OVERDRAFT PROTECTION
When
you open a checking account with FSNB, you are automatically pre-approved for
Overdraft Protection (ODP). The amount
of your ODP is dependent upon your deposit activity. Accounts receiving direct deposit will have
their ODP limit adjusted within 30 days of receipt of the first direct
deposit. Accounts without direct deposit
will be monitored for deposit activity to determine the appropriate ODP limit. Once regular and recurring deposit activity
is established, you will be notified of the amount of your ODP.
If you
do not want ODP, you may decline ODP at the time of account opening or by
contacting us at the number or address listed below, at any time. Your cancellation of your participation in
ODP does not affect the Bank’s rights to collect any outstanding amounts owed
for any currently outstanding overdrafts or charges.
FSNB
believes in recognizing customers that maintain their accounts in good
standing. In doing so, the bank may
periodically offer you ODP, if you don’t have it, or offer an increase in the
amount of your existing ODP. You will be notified in advance of increases in
your Overdraft Protection amount. You
may decline the increase by contacting us at the number or address listed
below. Unless notified of your intention to decline, the increase will become
effective on the date in the notice.
Once
your ODP limit is set, you agree to maintain direct deposit or an adequate
checking account deposit relationship with FSNB during the entire period that
the ODP is in effect. The automatic ODP will be immediately terminated by the
Bank upon your cancellation of direct deposit or failure to maintain a
sufficient checking account deposit relationship with the Bank. The direct
deposit customer is obligated to give the Bank thirty (30) days notification
prior to the cancellation of direct deposit to the Bank. Whether your overdrafts will be paid is
discretionary and we reserve the right not to pay. For example, we typically do not pay
overdrafts if your account is not in good standing, or you are not making
regular deposits, or you have too many overdrafts.
However,
if you maintain your account in good standing (making regular deposits,
bringing your account to a positive balance and paying all bank fees charged to
your account) the Bank, while this authorization is in effect, will not return
overdrafts to the payee, but will honor and pay overdraft checks and allow
checking overdraft withdrawals in person, from ACH debits, or other electronic
transactions, and if you have previously authorized, ATMs and one-time debit
card transactions, which in the aggregate are within the agreed upon ODP
amount. If you have previously authorized, ODP is available for ATM and other
withdrawals, however the ODP amount IS NOT included in the balance shown on ATM
receipts. Therefore, if you withdraw
more than is shown as your balance on your ATM receipt, you will incur the
current Non-Sufficient Funds/OverDraft (NSF/OD) item fee of $18 by using your
ODP.
Each
overdraft item paid or returned will be subject to the Bank’s current NSF/OD
item fee of $18, and the fees will be included in the maximum ODP limit. Any
overdraft items above the maximum ODP limit will be paid or returned at the
Bank’s discretion and assessed the Bank’s current NSF/OD item fee for each paid
or returned item.
In the
normal course of business, we generally pay electronic transactions first and
then checks from smallest to largest. We reserve the right to change the order
of payment without notice to you if we suspect fraud or possible illegal
activity affecting your account.
Contact us:
(800) 749-4583
FSNB,