How to Avoid Overdrafts
What is an overdraft?
An overdraft occurs when you do not have enough money in your account to cover a purchase or payment. If this happens, your bank or financial institution may charge an overdraft or a non-sufficient funds (NSF) fee. Below are tips to help you avoid overdrafts.
How to prevent overdrafts?
- Track Your Balance Carefully - Always track your balance carefully to know what you have outstanding and how much you have available to pay or spend.
- Set Up Online Banking Alerts – Set up transaction and low balance alerts in our online banking system to stay informed about your account.
- Know Your Scheduled Payments – Know when your pre-scheduled electronic payments such as your mortgage, rent, or utilities will be paid and how much they will be.
- Link Your Accounts for Overdraft Protection - Consider linking your savings account to your checking account for overdraft transfers. Funds will be transferred from your linked account automatically if your checking account runs low. There is a small transfer fee, but no overdraft fee will be charged.
- Opting Out of Debit and ATM Overdraft Coverage – Without overdraft coverage, if you do not have enough money to cover a purchase or ATM withdrawal, your transaction will be declined, and you will avoid overdraft fees.
- Call us with any questions – 936-639-3201.
