Sometimes, accidentally overdrawing your account may happen. At FOCUS Bank, we have provided some information below to help you understand the Overdraft Privilege service and tools to help you manage your account/budget.
Please feel free to review our Overdraft Privilege Disclosure (PDF) at any time.
Overdraft Privilege is not a line of credit. However, with Overdraft Privilege, if you inadvertently, overdraw your account, FOCUS Bank has the discretion to cover your overdrafts for a fee up to the amount of your Overdraft Privilege limit. When your items are paid, this service may help save you the embarrassment of an ATM or everyday debit card transaction being declined or the inconvenience of a check or ACH item being returned, as well as the fee normally charged to you by merchants for items returned to them.
Keep in mind that we also offer overdraft protection plans, such a link to a savings account, which may be less costly than overdrawing your account. If you already have other forms of overdraft protection, Overdraft Privilege will only be used after these resources are exhausted.
Please review the following important information about Overdraft Privilege:
- Should an overdraft occur, your account will be charged the standard NSF Paid Handling Fee of $32 for each item that is paid by the discretionary Overdraft Privilege. This includes overdrafts created by checks, ACH, ATM withdrawals, everyday debit card transactions, in-person withdrawals, or by other electronic means. This is the same fee that we charge for items drawn against insufficient funds and returned to the payee.
- If multiple items are presented against your account on the same day, each item will be assessed an appropriate NSF Paid Handling Fee or NSF Returned Handling Fee of $32 up to a limit of 4 fees per day or $128. For consumer accounts, we will not charge an NSF Paid Handling fee if your account is overdrawn by $10 or less. If your account remains overdrawn for longer than 3 days, we will charge your account a daily overdraft fee of $5 every three consecutive business days the account remains overdrawn, beginning with day 3.
- FOCUS Bank has the discretion, but is not agreeing and does not have an obligation to pay your overdrafts and we may withdraw or reduce the amount of this privilege at any time. An overdrawn balance must be repaid within 35 days or your Overdraft Privilege limit may be reduced to $100 or removed.
- FOCUS Bank ordinarily will not pay an item above the Overdraft Privilege limit and may return items if you do not maintain your account in good standing by bringing your account to a positive balance within every thirty-five (35) day period for a minimum of one business day, if you default on any loan or other obligation to FOCUS Bank or if your account is subject to any legal or administrative order or levy.
- Fees charged for covering overdrafts, as well as the amount of the overdraft item, will be subtracted from this Overdraft Privilege amount as items are paid. It may be possible that your account will become overdrawn in excess of the Overdraft Privilege amount as a result of the assessment of a fee. Balances at an ATM or other point of inquiry will not include the Overdraft Privilege limit; however, items may be paid in excess of the balance provided.
- Transactions may not be processed in the order in which they occurred and the order in which transactions are received and processed may impact the total amount of fees assessed.
From time to time, people have trouble managing their money, so we have some information to help provide some guidance in this area: