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Overdraft Coverage Options
 
First National Bank

Life happens! First National Bank understands that unexpected overdrafts occur from time to time – Overdraft Coverage can help.

 

Overdraft Coverage Options

The choice is yours. Consider these ways to cover overdrafts:

Service

Cost

Link to another deposit account you have at First National Bank1

$5.00 fee per transfer

Overdraft line of credit1, 2

$50.00 Line of Credit Annual fee + 18% APR3

Overdraft Privilege

$30.00 overdraft fee per item. Daily fees may apply.

1Contact us toll free at (888) 647-4500 or Email Address, or come by a branch to sign up or apply for these services; 2Subject to credit approval; 3Annual Percentage Rate (subject to 12 C.F.R. § 1026.16(b)).

 

Overdraft Protection services apply to all types of transactions and allow you to link other sources, such as another account or line of credit, at First National Bank to your checking account to pay an overdraft transaction for a fee or finance charge. Please note that overdraft lines of credit are subject to credit approval.

 

Overdraft Privilege allows you to overdraw your account for a fee in order to pay a transaction.

 

 

Transactions Covered with Overdraft Privilege

Standard Coverage
(No action required)

Extended Coverage

(Your consent required)*

Checks

X

X

ACH - Auto Debits

X

X

Recurring Debit Card Payments

X

X

Online Bill Pay Items

X

X

Internet Banking Transfers

X

X

Telephone Banking

X

X

Teller Window Transactions

X

X

ATM Withdrawals

 

X*

Everyday Debit Card Purchases

 

X*

 

*If you choose Extended Coverage, all the transaction types listed in Standard Coverage are included, along with ATM withdrawals and everyday debit card transactions. Business accounts automatically have

 

Extended Coverage.

You can discontinue the Overdraft Privilege in its entirety by contacting us at (888) 647-4500. If you already have Extended Overdraft Privilege coverage, it is not necessary to request it again.


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:

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.

 

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 ACH 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 First National Bank pays my overdraft?

 

Under our standard overdraft practices:

    We will charge you a fee of up to $30.00 each time we pay an overdraft. We charge an overdraft fee of $15.00 if an account is overdrawn by less than $10.00. A fee will not be assessed if the overdraft is $5.00 or under.

    The maximum Overdraft or Returned fees we charge in a day is six fees or $180.00.

 

What if I want First National Bank 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 online form below and submit, or download the printable version of the form and present at a branch location or mail to the bank address at:

First National Bank

PO Box 457

Ronceverte, WV 24970

  

Download Printable Version of the Form


Today's Date 02/27/2015
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