Overdraft Privilege

How does Overdraft Privilege work?

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 determination is made by your account history, deposits, and spending patterns. If you are eligible, the Overdraft Privilege minimum on your account will be $300.00. 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 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 protection may also be available using your Savings Account, Linked Deposit Account or from an Automatic Cash Reserve Account.

What are my Overdraft Privilege Options and what types of transactions are included in each?

Full Overdraft Privilege includes:

Point of Sale (POS) –also known as "Everyday Debit Card Transactions"
ATM transactions
ACH including Automatic Bill Payments
Checks and other transactions made using a checking account number
Recurring debit card transactions

Limited Overdraft Privilege includes:

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.

Do I need to choose one of the above three options at account opening?

Yes, you must advise us at account opening which option best meets your needs.

What if I decide later that another option is best for me?

If you change your mind, we've got you covered! Just contact our Telephone Banking Center or visit your local branch to make the desired change to your account.

How do I know when I use the overdraft limit?

You will receive an overdraft notice in the mail each time items are paid. The notice will show the check number, serial/EFT number, amount, and the NSF fee. You should subtract total fees from your checkbook.

What if I go beyond my Overdraft Privilege limit?

Overdrafts above and beyond your established Overdraft Privilege limit may result in a check(s) or ACH item(s) being returned to the payee. The normal NSF fee will be charged per item and assessed to your account. An NSF notice will be mailed to notify you of our actions.

How quickly must I repay my Overdraft Privilege?

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.

How do I retain my Overdraft Privilege?

To retain your Overdraft Privilege you must bring your account to a positive balance every 30 days.

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.

What does my Overdraft Privilege cost?

There is no cost associated with this privilege. As stated previously, you should keep in mind that you will be charged an NSF fee for each item presented within the Overdraft Privilege limit.