Peoples Bank Protection Plus Opt-In
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 will pay it anyway. We can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We have overdraft protection plans, such as a link to a savings account, which may be less expensive than 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 other transactions made using your checking account number
- Automatic bill payments and recurring debit card transactions
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to do so:
- ATM transactions
- Daily 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 Peoples Bank pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of $30 each time we pay an overdraft
- The maximum number of overdrafts we charge any customer is capped at 6 per business day ($180)
What are the overdraft protection services that can be added to my account?
- Peoples Bank Protection Sweep allows you to set up an automatic transfer to your checking account from another Peoples Bank deposit account. If you conduct transactions that overdraw your checking account, the linked account makes automatic transfers to the checking account in increments of $10 to cover the transactions. Overdraft Transfer is available for a $5 per daily transfer fee.
What if I want Peoples Bank to authorize and pay overdrafts on ATM and daily debit card transactions?
If you want us to authorize and pay overdrafts on ATM and daily debit card transactions, submit the form below or call (931) 676-3311 or (877) 656-3311.