Overdraft Privilege

Have peace of mind knowing that you have an extra layer of protection on your Personal Checking Account. With Planters Bank’s Overdraft Privilege, you can guard against costs associated with account reconciliation errors, unanticipated cash flow emergencies or other unintended overdrafts.

Overdrafts can be created by having insufficient funds in your Planters Bank Checking Account(s). Examples of banking activities that could trigger an Overdraft: Checks, ACH transactions, in-person withdrawals, online banking, preauthorized automatic transfers, telephone banking, ATM or everyday debit card transactions. If you overdraft your deposit account, you will incur:

• A fee of $37 per item paid or returned.
• An overdraft per day fee of $5 after the account has been negative for 4 days.

Overdraft Privilege is a non-contractual courtesy available on Personal Checking Accounts in good standing at Planters Bank.¹ To utilize this service, you are simply required to “opt-in” by visiting any Planters Bank office or contacting a customer service representative (in person or via phone). However, Planters Bank does not encourage overdrawing your Checking Account.²

Tips to Help Avoid Overdrafts:

• Be aware of your account balance prior to writing a check or using your Planters Visa® Debit Card.
• Review transactions on an ongoing basis.
• Enroll in Online Banking to help keep up-to-date with your balance.
• Record payments and deposits – Remember to record and deduct checks, automatic recurring payments and debit card transactions as well as add any deposits that have not yet been posted to your account.
• Talk to your community banker about the best overdraft service for you.

Additional Types of Overdraft Services

Ask a Planters Bank customer service representative about various types of overdraft service, including:

• Overdraft Lines of Credit charge interest but provide a safety net. They may also have an annual fee. If needed, disbursements can be repaid over a period of time. (This service requires you to complete an application, and approval is based on your credit worthiness.)
• Transfer or Sweep Arrangements allow customers to cover overdrafts using their own funds for a small transaction fee.

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¹ Overdraft Protection is not available on PaySound Checking Accounts.
² Overdraft Privilege is subject to approval. Overdraft Privilege is available for all checks written, in-person withdrawals, ACH transactions, preauthorized automatic transfers, online banking and telephone banking. Overdraft Privilege is available for ATM and everyday debit card transaction only if you authorize the Bank to pay these transaction types (see ATM/Debit Card Consent Form available at any Planters Bank office). When we pay overdraft items, you will be charged our normal NSF-Item Paid fee, currently $37, for each item that is presented. You will also be charged an overdraft per day fee of $5 after the account has been negative for 4 days. You must bring your account to a positive balance within a 30 day period. Whether overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if the account is not in good standing, if you are not making regular deposits, or if you have too many overdrafts. Fees apply thereafter, Planters Bank reserves the right to pay or return the check.