We are all busy and it’s easy to forget to check the balance in our accounts. When there are not enough available funds in your account to cover a transaction, an overdraft occurs. Most of us have been there and we understand it can cause a big inconvenience and embarrassment. River City Bank offers overdraft protection coverage options to help avoid a declined transaction and provide the coverage you need.
Standard Overdraft Practice
It will be our Standard Overdraft Practice to only pay a check, ATM withdrawal, everyday purchase made with a debit card, Online Bill Pay or other electronic transaction when we determine there’s enough money available in your account at the time of transaction. When there aren’t enough funds, and you haven’t opted-in to an overdraft coverage option, the bank handles it as follows:
- For checks and other debit transactions, including ACH and recurring debit card transactions, written off of your account, we may return the item, and assess a Returned Item Fee of $35 per item. A consumer account will only be charged an Overdraft Fee if the item(s) are paid causing the account to be overdrawn for $5 or more. The Overdraft Fee amount per item is $35.00.
- For ATM transactions and everyday debit card transactions our standard practice is to decline the transaction and not charge a fee.
Courtesy Overdraft Program1
This service will be offered to all customers with an eligible5 checking account in good standing. This service will generally pay overdrafts up to a maximum overdraft limit and standard Overdraft Fees will apply to items paid that causes the account to go into a negative balance. If you choose to opt-in to this program, you will be given the additional option to opt-in to the same coverage on any electronic transactions such as, ATM transactions and everyday debit card transactions. A checking account will only be charged an Overdraft Fee if the item(s) are paid causing the account to be overdrawn for $35 or more.
- Opt-in required
- Each occurrence is $35 per item. Overdraft charges are limited to a maximum of five (5) per day, per account, or a total of $175 per day, per account.
- Types of transactions covered:
- Checks
- Recurring debit card transactions
- Other debit payments such as ACH
- Types of transactions NOT covered:
- ATM withdrawals
- Non-recurring debit card transactions
Courtesy Overdraft Program for ATM & Debit Card Transactions2
In addition to the Courtesy Overdraft Program, this additional, optional coverage on consumer accounts allows River City Bank to authorize and pay ATM transfers and withdrawals and everyday debit card transactions2 up to a maximum overdraft limit. Standard Overdraft Fees will apply to items paid that cause the account to go into a negative balance. We will not pay overdrafts on your ATM and everyday debit card transactions unless you ask us to. If you do not ask us, or “opt-in”, the ATM and everyday debit card transactions will not be paid, and no fee will be imposed.
- Opt-in required
- Each occurrence is $35 per item. Overdraft charges are limited to a maximum of five (5) per day, per account, or a total of $175 per day, per account.
- Types of transactions covered:
- Checks
- Recurring and non-recurring debit card transactions
- Other debit payments such as ACH
- ATM withdrawals
Overdraft Transfer Protection Plan
This optional coverage allows you to link your account to another River City Bank checking, money market or savings account3, or a line of credit4 that will be used to cover overdrafts.
- Enrollment required
- The Courtesy Overdraft Coverage applies for overdrawn payments beyond your available balance in linked account(s).1
- Types of transactions covered:
- Checks
- Recurring and non-recurring debit card transactions
- Other debit payments such as ACH
- ATM withdrawals
FAQs
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An Overdraft Fee is the cost incurred when the bank allows transactions to go through even though you don’t have enough money in your account to cover the transaction. The bank is choosing to temporarily cover, or pay, the item on your behalf. This fee applies to transactions created by check, in-person withdrawals, ATM withdrawals, or other electronic means. If you overdraw your balance by $35 or less, you will not be charged an overdraft fee.
1 We pay overdrafts based on our standard overdraft practice. We do not guarantee that we will pay any overdraft transaction. We offer a Courtesy Overdraft Program, a service offered to all eligible5 checking accounts in good standing, with the expectation that you will be making a deposit immediately to bring your account to a positive balance. 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 excessive overdrafts.
2 The additional “opt-in” for ATM & Debit Card transactions is available for customers with consumer accounts in good standing. Customers must opt-in to authorize River City Bank to pay overdrafts on ATM and one-time debit card transactions (non-recurring) at account opening, or by contacting your local branch. Customers may choose to discontinue the use of any overdraft coverage or the Courtesy Overdraft Program at any time by contacting any local branch.
3 Transaction restrictions may apply. See account agreement disclosures for details.
4 Subject to credit approval. Other restrictions may apply.
5 Eligible checking accounts are accounts opened at least 70 days and have maintained in good standing, defined as a) making regular deposits sufficient to cover transactions; b) keeping a positive balance for the first seventy days; c) the account isn’t overdrawn for ten or more consecutive days; d) there are no legal orders outstanding on your account, and; e) you have not defaulted on a loan payment. We may limit the number of accounts eligible for Courtesy Overdraft to one account per household.