Overdraft Services
Overdrawing your account can be costly. To help minimize the financial and emotional impact that often occurs as the result of overdrawing your account, we offer overdraft protection services through our Overdraft Privilege service, or by using your Linked Deposit Account or from an Automatic Cash Reserve (ACR) Line of Credit.
Overdraft Privilege
After your account has been open for at least 60 days, and you qualify for this service, an Overdraft Privilege limit may be assigned to your account. The amount of Overdraft Privilege coverage you receive will vary, and is based on your account history, deposits, and spending patterns. As long as you maintain your account in good standing, we may honor overdrafts up to the assigned limit (and there are no legal orders outstanding) we may approve your reasonable overdrafts as a non-contractual courtesy. Normally, we will not approve an overdraft for you in excess of the pre-determined limit assigned to your account, plus our applicable Non-sufficient Funds (NSF) handling fee(s). You will be notified by mail of any NSF items we have paid or returned; however, we have no obligation to notify you before we pay or return any item(s). There is no monthly maintenance fee associated with Overdraft Privilege and no interest or daily fee will be charged on the overdraft balance.
Overdraft Privilege Options
Full Overdraft Privilege includes:
- Point of Sale (POS) – also known as "Everyday Debit Card Transactions"
- Automatic Teller Machine (ATM) transactions
- Automatic Clearing House (ACH) including Automatic Bill Payments
- Checks and other transactions made using a checking account number
- Recurring debit card transactions
Limited Overdraft Privilege includes:
- Automatic Clearing House (ACH) including Automatic Bill Payments
- Checks and other transactions made using a checking account number
- Recurring debit card transactions
- You may also choose to decline Overdraft Privilege.
You must advise us at account opening which option best meets your needs.
You may at anytime choose to decline Overdraft Privilege.
Linked Deposit Accounts
Linked accounts are a great method of overdraft protection for your checking account. You may link any eligible Tri Counties Bank checking, savings and/or money market accounts directly to your checking account, so that in the event of an overdraft, available funds are easily transferred between accounts. Certain account types are subject to a limited number of transfers per month or statement cycle (please refer to our Deposit Agreement and Disclosure for further information).
Automatic Cash Reserve (ACR)
An Automatic Cash Reserve account (ACR) is a line of credit attached to your checking account that can be used for overdraft protection. You must apply for an ACR, and you will be subject to credit approval. To apply please contact our Call Center by calling 1-800-922-8742 or visit a Tri Counties Bank office.
Frequently Asked Questions
Q: How do I get overdraft protection?
A: You can set up Overdraft Protection by calling us at 1-800-922-8742. Our Call Center hours are Monday-Friday 7:00am-8:00pm, Saturday 9am-4:00pm, and Sunday 11:00am-5:00pm. You can also stop by any local Tri Counties Bank branch.
Q: Can I link to more than one account for overdraft protection?
A: Yes, your checking account can be linked to multiple deposit accounts for overdraft protection. If you have more than one eligible account that could serve as overdraft protection for your checking account, you will need to designate the access order for each account. You can always change the order of the linked accounts for overdraft protection by contacting our Call Center at 1-800-922-8742, or by visiting your local Tri Counties Bank office.
Q: Can I change my overdraft protection linked account(s)?
A: Yes. You can change the linked account for overdraft protection by contacting us or visiting your local Tri Counties Bank branch.
Tri Counties Bank Call Center: 1-800-922-8742
Monday – Friday: 7:00am-8:00pm
Saturday: 9:00am-7:00pm
Sunday: 11:00am-5:00pm
Q: What’s the difference between “Current” and “Available” balance?
A: Current Balance
The balance in your account at the close of the previous business day.
Available Balance
Amount of funds available for withdrawal and authorizing transactions. Your Available Balance may be different than your personal Register balance sometimes called Ledger Balance. The Available Balance is reduced by 1) the amount of pending transactions, such as a point-of-sale transaction; 2) funds on hold in accordance with our funds availability policy; 3) our receipt of notice that a transaction will be presented or returned; 4) our receipt of a legal process relating to your account; or 5) your use of your account as security for a loan.
Q: How do I know when I use the overdraft limit?
A: If you have Overdraft Privilege in place on your account, you will receive an overdraft notice in the mail each time an item (s) are paid. The notice will show the check number, serial/Electronic Funds Transfer (EFT) number, amount, and the Non-sufficient Funds (NSF) fee. You should subtract total fees from your check register.
If you have an Automatic Cash Reserve (ACR) account in place, you will receive a Transfer Notice once funds have been transferred to cover an account. Be sure to add this transfer to your check register, and any fees that also apply.
If you use a Linked Deposit Account to serve as your overdraft protection, you will not receive a notice when funds are pulled from this account in order to cover an overdraft. The amount pulled from your Linked account to cover the overdraft will show up as an OD TRF FROM DDA, which means Overdraft Transfer from Demand Deposit Account on your Linked account statement and OD TRF TO DDA, which means Overdraft Transfer to Demand Deposit Account on the statement for the account that was overdrawn. If you are also signed up for Online Banking, the Overdraft Transfer will also be listed as a line item in your account activity.
Overdraft Privilege
Q: What does my Overdraft Privilege cost?
A: There is no cost associated with this privilege. As stated previously, you should keep in mind that you will be charged a Non-sufficient Funds (NSF) fee for each item presented within the Overdraft Privilege limit.
Q: If I decide on Overdraft Privilege, do I need to put this in place at account opening?
A: Yes, you must advise us at account opening which option best meets your needs.
Q: What if I decide later that another overdraft protection option is best for me?
A: If you change your mind, we've got you covered! Just contact our Call Center or visit your local branch to make the desired change to your account.
Q: How quickly must I repay my Overdraft Privilege?
A: You should make every attempt to bring your account to a positive balance as quickly as possible. If you are not able to do so, you will receive a letter from Tri Counties Bank informing you of the situation and your options. If, after a period of time, your account has not been brought to a positive balance, we will have no option but to close your account and take other steps to recover funds.
Q: How do I retain my Overdraft Privilege?
A: To retain your Overdraft Privilege you must bring your account to a positive balance at least once every 30 days.
Q: When I call Tri Counties Bank 24-hour Telephone Banking to get my balance, is my Overdraft Privilege limit included?
A: No, it will not be reflected in the "available balance."
Q: What if I go beyond my Overdraft Privilege limit?
A: Overdrafts above and beyond your established Overdraft Privilege limit may result in a check(s) or Automatic Clearing House (ACH) item(s) being returned to the payee. The normal Non-sufficient Funds (NSF) fee will be charged per item and assessed to your account. A Non-sufficient Funds (NSF) notice will be mailed to notify you of our actions.
Q: What tools do you have to help me avoid overdrafts all together?
A: We are here to help! We have compiled some additional resources that are available on our website in our Money Management Tips section.
