How does overdraft coverage work?

With overdraft coverage, we may approve a charge, even if there’s not enough funds available in your deposit account. This may result in an Overdraft paid fee1.

If you decide not to have it, transactions may be declined, and you won’t be charged this fee.
See also: How do I opt into overdraft coverage and manage it?

Standard overdraft coverage

Most personal checking2, savings, and money market accounts automatically come with standard overdraft coverage. This authorizes us to approve the following items, at our discretion:

  • Checks and other transactions using your checking account number.
  • Automatic bill payments.
  • Recurring debit card transactions.

There isn’t a guarantee we’ll always authorize and pay any type of transaction. If we don’t approve a transaction that would cause an overdraft, it’ll be declined or returned. We won’t charge an Overdraft paid fee if this happens.

ATM & debit card overdraft coverage

ATM and debit card overdraft coverage authorizes us to pay overdrafts for ATM withdrawals and everyday debit card transactions, at our discretion.

You can opt in or out of ATM and debit card overdraft coverage by choosing ‘yes’ or ‘no’ for each personal deposit account. These elections can be changed at any time.

Refer to Your Deposit Account Agreement, section titled “Overdraft Protection Plans,” for more information.

1Overdraft paid fee
A $36 fee is charged when we pay an item on your behalf that is $5.01 or more, and when the negative available balance is $50.01 or more. This fee isn’t charged when items paid are $5 or less or if the available balance at the end of the business day is negative by $50 or less.

2Safe Debit accounts are not eligible for overdraft coverage.