What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. Available options:
We have standard overdraft practices that come with your account.
We offer Overdraft Line of Credit Cash Reserve: Subject to credit approval, please contact our Loan Department for details.
Current Balance alerts: Through our online banking product you can request e-mail alerts when your balance falls below an amount set by you.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
Checks and other transactions made using your checking account number
Automatic bill payments
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.
If we do not authorize and pay an overdraft, your transaction will be declined.
What fees will I be charged if O達annon Bank pays my overdraft?
Under our standard overdraft practices:
We will charge you an overdraft item fee(s) of $25.00 each time we pay an overdraft item if the overdraft balance on the account after daily posting is greater than $25.00.
The daily limit for overdraft item fee(s) is six (6).
What if I want O達annon Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 417-345-2251, visit www.obannonbank.com, complete the form below and present it at any O達annon Bank location, or mail it to the following address:
PO Box 890
Buffalo, MO 65622