What You Need to Know about Overdrafts and Overdraft Fees


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:

  1. We have standard overdraft practices that come with your account.
  2. 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 below):

  • 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 transactions?

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 delivered.

» 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.



Bank of Bolivar's Opt In Consent Form

*Name (First M. Last)
*Last 4 digits of your SSN
*E-mail
*Daytime Phone Number
*Account Number
Account Number
Account Number
*Today's Date
*I have fully read the overdraft services listed above.