An overdraft occurs when you do not have enough money
in your account to cover a transaction, but we pay it anyway.
We can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans,
such as a link to a savings account, which may be less
expensive than our standard overdraft practices. To learn
more, ask us about these plans.
This notice explains our standard overdraft practices
on and after July 1, 2010.
» What are the standard overdraft practices
that come with my account?
We do authorize and pay overdrafts for the following
types of transactions, if your account qualifies:
- Checks and other transactions made using your checking account number
- Automatic bill payments
We do not authorize and pay overdrafts for the
following types of transactions unless you ask us to (see
- ATM transactions
- Everyday debit card transactions
We pay overdrafts at our discretion, which means we do
not guarantee that we will always authorize and pay any
type of transaction. If we do not authorize and pay an
overdraft, your transaction will be declined.
» What fees will I be charged if Bank of
Bolivar pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of $29.00 each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
» What if I want Bank of Bolivar to
authorize and pay overdrafts on my ATM and everyday debit card
If you also want us to authorize and pay overdrafts on ATM
and everyday debit card transactions, complete the form herein
and submit it electronically. (Forms are also available in
each of our branches.) Once we receive your form, it will be
considered and you will receive an acknowledgement indicating
whether your account is eligible for this type of overdraft
protection. ATM and everyday debit card transaction overdrafts
will not be covered until this acknowledgement is
» What if I want to revoke my decision to
have Bank of Bolivar authorize and pay overdrafts on my ATM and
everyday debit card transactions?
You have the right to revoke your opt-in consent allowing
Bank of Bolivar to authorize and pay overdrafts on ATM and
everyday debit card transactions. To revoke your consent, call
or stop by any branch office.