An overdraft occurs when there are not available funds in your account to cover a transaction, but we pay it anyway. River City Bank offers the following overdraft management options for our clients:
- Courtesy Overdraft Coverage
- Courtesy Overdraft with ATM & Debit Card Coverage
- Overdraft Transfer Protection
|Courtesy Overdraft Coverage¹||Courtesy Overdraft with ATM & Debit Card Coverage¹||Overdraft Transfer Protection|
|Description of Service||Standard service that may allow a transaction to be approved – at the Bank’s discretion – even if you don’t have enough money in your account to cover the transaction amount.||In addition to Courtesy Overdraft Coverage, this OPTIONAL coverage allows River City Bank to authorize and pay ATM and everyday debit card transactions² at the Bank’s discretion.||Optional coverage allowing 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.|
|Types of transactions covered:|
|Checks and other payments using your account number (such as ACH)||✔||✔||✔|
|Recurring debit card transactions||✔||✔||✔|
|Everday debit card transactions (non-recurring)||✔||✔|
|Cost||Each occurrence = $35 per item||Each occurrence = $35 per item||$5 per transfer|
¹ We pay overdrafts based on our standard overdraft policy. We do not guarantee that we will pay any overdraft transaction. We offer Courtesy Overdraft Coverage, a discretionary service, 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 too many overdrafts.
² Courtesy Overdraft with ATM & Debit Card Coverage is a discretionary service. 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, by contacting our branch, or through online banking available at www.rivercity.bank. Customers may choose to opt-out of Courtesy Overdraft Coverage with ATM & Debit Card Coverage at any time by contacting our branch, by phone, or through online banking available at www.rivercity.bank.
³ Transaction restrictions may apply. See account agreement disclosures for details.
⁴ Subject to credit approval. Other restrictions may apply.
|Overdraft Fee||$35 per item||Fee assessed if 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 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 $5 or less, you will not be charged an overdraft fee.|
|Returned Item Fee||$35 per item||Fee assessed when you don’t have enough money in your account and the bank chooses to return the item unpaid. For example, a “bounced” check. This fee applies to transactions created by check, in-person withdrawals, or other electronic means. If you overdraw your balance by $5 or less, you will not be charged an overdraft fee.|
|Overdraft Transfer Protection Fee – ODP Transfer Fee||$5 per transfer||Fee assessed when available funds are transferred from a linked checking account, money market or savings account, or Overdraft Line of Credit.|
|Maximum number of overdraft and returned item NSF fees per business day||6||Maximum number of overdraft and/or returned item fees that River City Bank will charge in any given business day (maximum total fees per customer per day of $210).|