Overdrafts happen.

Unanticipated expenses pop up—and sometimes you don’t realize that there’s not enough cash in your checking account to cover a transaction or clear a check. As you know, having a check returned due to insufficient funds is costly and inconvenient.


Here's 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 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, Money Market or Checking Account or to a line of credit, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.


What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments
  • ACH 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 Equity Bank pays my overdraft? 

Under our standard overdraft practices the following fees are imposed:

  • We will charge you a fee of $33.98 each time we pay an overdraft.
  • The maximum number of overdraft fees that we can assess is limited to $169.90 per day.
  • If your end-of-day balance, according to our records, is $5 or less overdrawn, you will not incur an overdraft charge.
  • If your account is overdrawn any amount for more than 7 consecutive business days, we will charge a fee of $5.00 for each business day your account is overdrawn. Business days do not include Saturday, Sunday or Bank Holidays.


CUSTOMER OPT-OUT:  Equity Bank standard Courtesy Pay is completely optional. If you would like to decline standard coverage, request a lower limit on your account, or request standard coverage be reinstated if previously removed, please contact a Customer Service Representative at (888) 733-5041.

Overdrafts should never be used to finance ordinary or routine expenses, and you should not rely on overdrafts to cover these expenses. If at any time you feel you need help with your financial obligation, please contact our Customer Care Team here.


Download the full brochure here.


What if I want Equity Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you have standard Courtesy Pay coverage and also want to extend or remove your Courtesy Pay coverage for authorization and payment of overdrafts on ATM and everyday debit card transactions, do one of the following:

  • Call us at 888-733-5041.
  • Contact our Customer Care Team here .
  • Complete the form below.

 

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