Overdraft Options

While we do not encourage overdrafts, we understand that unanticipated expenses or unforeseen problems can leave you with not enough money in your checking account. Our goal is to assist you in avoiding unexpected Overdraft or Return Item fees as well as the inconvenience of having transactions declined or returned unpaid. The information below is aimed at helping you understand the Overdraft coverage options we provide and how they may benefit you.

We encourage you to view our Account Alerts options developed to help you stay on top of your finances, our Account Management Best Practices for advice on how to manage your account as well as the External Online Resources we provide for additional financial education.

First National Bank offers two layers of Overdraft coverage

Overdraft Protection

An optional account linked to your checking that can help secure your buying power and reduce bank fees and declined transactions. Money is advanced automatically in exact amounts when you need them, helping to keep your account from becoming overdrawn.

Overdraft Service1

Coverage for when your checking and linked Overdraft Protection account (if enrolled) does not have enough money available to cover a transaction. This tells us in advance how you would like us to consider paying transactions that will cause your account to become overdrawn.

Overdraft Protection Options

In the event your checking account doesn’t have enough money to cover a withdrawal, transfer or purchase, an optional linked Overdraft Protection account can advance funds automatically and in exact amounts to help keep your account from becoming overdrawn. This can help reduce Overdraft and Return Item fees while keeping buying disruptions to a minimum.

Line of Credit

Your eligible checking account can be linked to a First National Bank line of credit. Money is transferred automatically from your line of credit, up to your available credit limit, to your checking to cover the exact amount needed if a transaction were to exceed your available checking balance. This option has no set-up fee, no transfer fee and no annual fee*!

*Your APR will vary based on the Prime Rate (14.24% APR to 18.24% APR) depending on your creditworthiness. This LOC may receive a .25% relationship pricing discount if you have a related checking account. Or this LOC may receive a .50% relationship discount if you have a related checking account and an existing qualified retail lending product. If you receive a relationship pricing discount, a rate as low as 13.74% variable APR may be available, depending on your creditworthiness. For example, you would need to have at least one of the following qualified lending products: Home Equity, Auto Loan, Unsecured Loan, Secured Loan, additional Line of Credit or a Mortgage. Rates are accurate as of 06/01/2016. To find out if any APRs have changed, please stop by a branch or call Customer Service at 866-432-2310. Line of credit accounts have additional terms and conditions in place which will be mailed to you upon approval of the line of credit.

Savings Account

Your eligible checking account can be linked to a First National Bank savings or money market account. Money is transferred (if available) automatically from your savings account to your checking to cover the exact amount needed if a transaction were to exceed your available checking balance. This option has no set-up fee, no transfer fee and no annual fee! Your checking account and linked savings account must have the same ownership (i.e. Single vs. Joint Ownership). Fees may apply on the related savings or money market account if the number of transactions goes over the withdrawal limits. See your account opening disclosures for more details.

Overdraft Service1 Options

In the event your checking account and linked Overdraft Protection account doesn't have enough money to cover a withdrawal, transfer or purchase, we may still honor your transaction, for a fee. Overdraft Service, available on eligible checking accounts, tells us in advance how you would like us to consider paying transactions that will cause your account to be overdrawn. Our consideration is based on the type of Overdraft Service you select and the manner in which you keep your account.

Standard Overdraft Service

This service comes standard with all eligible checking accounts. We will consider checks, automatic bill payments and other transactions using your account number for payment. You may be charged an Overdraft Item Fee of $33 for transactions that overdraw your checking account. If we return an item unpaid, we may charge a Return Item Fee of $33. This option does not include ATM or everyday non-recurring debit transactions, such as grocery store or one-time online purchases. If you would like us to consider these types of transactions for payment, please review the "Standard Overdraft Service Plus Debit Coverage" option.

Standard Overdraft Service Plus Debit Coverage

In addition to the transactions we will consider for payment with our Standard Overdraft Service, we will also consider for payment ATM transactions and everyday non-recurring debit card transactions such as grocery store or one-time online purchases. You must enroll in this coverage for us to consider these transactions for payment into overdraft. You may be charged an Overdraft Item Fee of $33 for transactions that overdraw your checking account. If we return an item unpaid, we may charge a Return Item Fee of $33.

Return All

We will attempt to return checks, automatic bill payments and other transactions using your account number that would overdraw your account and we may charge a Return Item Fee of $33. We will decline ATM transactions and everyday non-recurring debit transactions, such as grocery store or one-time online purchases, for payment and you will not be charged a Return Item Fee of $33. If you have set-up recurring debit card transactions (such as gym membership, insurance premiums, etc.), these transactions may still be paid and you may be charged an Overdraft Item Fee of $33 if your checking account becomes overdrawn. With this service it is important to note that additional fees may be charged by the merchants who have items returned to them unpaid.

How to Set-Up, Change or Cancel your Overdraft Coverage

You can set-up, change or cancel your Overdraft coverage at any time by logging in to your Online Banking account, visiting a branch or calling 866-432-2310 to speak with a Customer Care Specialist.

Best Practices for Managing your Account

Tips for managing your account and avoiding fees

  • Carefully review the Overdraft coverage options we provide while considering how you use and plan to use your checking account.
  • Keep track of spending by keeping a check register up-to-date. Enter each check, debit card purchase, transfer and ATM withdrawal as it is made and keep track of automatic payments such as utilities and insurance.
  • Review your statement regularly.
  • Register your account for Online Banking and download our Mobile Banking application, they’re both free! Then set up Online Account Alerts to receive email updates on the status of your First National Bank checking, savings, money market, line of credit, CD/IRA and credit card accounts.
  • Try to keep a little cushion in your accounts and do not rely on check clearing time. With mobile payments and electronic transfers, there is very little time between when you write a check and when it clears your account. Many point-of-sale systems can scan your check and withdraw the money instantly – just like a debit card.
  • If you would like assistance managing your accounts, stop by any of our convenient locations and a banker will be happy to help you.

External Online Resources

FAQ's

What is Overdraft Protection?

Overdraft Protection can help you avoid fees and keep your buying disruptions to a minimum. In the event your checking account doesn’t have enough money to cover a withdrawal, transfer or purchase, a linked First National Bank line of credit or savings account will automatically transfer money (if available) to your account in the exact amount needed if a transaction were to exceed your available balance. This helps keep your checking account balance from becoming overdrawn which can reduce Overdraft and Return Item fees and help you avoid the hassle of having items returned unpaid.

What if I don't set up an Overdraft Protection Account?

Overdraft Protection is optional. If you wish to decline Overdraft Protection, we will handle your transactions based on the Overdraft Service you have selected. Please review our Overdraft Service options above.

How do I sign up for Overdraft Protection?

You can add or change an Overdraft Protection account at any time by logging in to your Online Banking account. From there you can follow our simple step-by-step guide. You may also visit a branch or call 866-432-2310 to speak with a Customer Care Specialist.

Can I still overdraw my account if I have Overdraft Protection?

Yes. If there is not enough money in your checking account and linked Overdraft Protection account to cover a transaction, we will review the Overdraft Service on your checking account to determine how we should handle the transaction. If we decide to pay the transaction, and your account becomes overdrawn, you may be charged an Overdraft Fee of $33. If we decide not to pay the transaction, the transaction will be declined and you may be charged a Return Item Fee of $33.

What is your Overdraft Fee?

Our Overdraft Item Fee is $33 per item (max 4 per day). We will not charge you this fee if your balance is overdrawn by $20 or less or the transaction overdrawing the account is $20 or less.

What is your Return Item Fee?

Our Return Item Fee is $33 per item (max 4 per day). We will not charge you this fee if the amount of the transaction being returned is $20 or less.

Do You Offer Overdraft or Return Item Forgiveness?

Yes. If you have First National Checking or First National Premier Checking, you will automatically receive one free Overdraft or Return Item forgiveness every 12 months from the date of the last automatic refund. For example, if an Overdraft or Return Item fee is automatically waived on January 1st of this year, the next time one will be eligible to be automatically waived would be January 1st of the following year. If you are eligible to receive an Overdraft Forgiveness at the time of your occurrence, the fee will be automatically waived.

What is Overdraft Service?

In the event your checking account and linked Overdraft Protection account doesn't have enough money to cover a withdrawal, transfer or purchase, we may still honor your transaction, for a fee. Overdraft Service, available on eligible checking accounts, tells us in advance how you would like us to consider paying transactions that will cause your account to be overdrawn.

How do I review my Overdraft Service?

You can review your Overdraft Service at any time, make changes or opt-out by logging in to your online banking account. From there you can follow our simple step-by-step process. Please be sure to review all of your options carefully and make a selection that best suits your needs. To learn more you can visit a branch or call 866-432-2310 to speak with a Customer Care Specialist.

How do I know if my checking account has Overdraft Service and/or Overdraft Protection?

You can log in to your Online Banking account to find out what overdraft options you currently have set. Of course, you can always speak with a banker at a convenient branch location or call us at 866-432-2310 to speak with a Customer Care Specialist.

Can I change my Overdraft Protection and/or Overdraft Service?

Yes. You can view, add, make changes or remove your Overdraft Protection and Overdraft Service at any time by logging in to your online account, visiting a branch or by calling us at 866-432-2310 to speak with a Customer Care Specialist.

What Overdraft Service Is Available When I Use My Debit Card?

With our Standard Overdraft Service Plus Debit Coverage, in addition to checks, automatic bill payments and other transactions using your account number that are considered with our Standard Overdraft Service, we will also consider for payment ATM transactions and everyday non-recurring debit card transactions such as grocery store or one-time online purchases.

You must enroll in this service for us to consider these transactions for payment. You may be charged an Overdraft Item fee of $33 for transactions that overdraw your checking account.

What if I Don’t Want A Transaction Paid That Will Overdraw My Account?

With our Return All Overdraft Service, we will attempt to return checks, automatic bill payments and other transactions using your checking account number that would overdraw your account and we may charge a Return Item fee of $33. We will decline ATM transactions and everyday non-recurring debit transaction, such as grocery store or one-time online purchases, for payment but you will not be charged a Return Item fee of $33. If you have set-up recurring debit card transactions (such as gym membership, insurance premiums etc.) these transactions may still be paid and you may be charged an Overdraft Item fee of $33 if your checking account becomes overdrawn. It is important to note that additional fees may be charged by the merchants who have items returned to them unpaid.

Can I have Overdraft Protection if I select Return All Overdraft Service?

Yes. In the event your checking account doesn’t have enough money to cover a transaction, money will be transferred from your Overdraft Protection account to your checking account in the exact amount needed. If the transaction exceeds the balance in your checking account plus the money available in your Overdraft Protection account, we will then attempt to return the transaction. Please read the information about our Return All Overdraft Service for more information about fees that may apply.

What is the posting order of transactions on my account?

Generally, we process transactions received by the close of our business day in the following order: deposits or credits first, then withdrawals or debits. Transactions received after our business day cutoff times will be processed on the next business day. Generally, after we have processed all deposits to your account, we process withdrawals.

Deposits or credits are transactions that increase the balance in your account. Withdrawals or debits are transactions that reduce the balance in your account.

We generally process withdrawals in the following categories and order:

  1. Electronic payment transactions and items such as purchases for cashier's checks, certificates of deposit or foreign currency;
  2. Debit card transactions (non ATM transactions);
  3. ATM withdrawals and checks cashed from your account at one of our branches;
  4. Transactions created by you through our BillPay system;
  5. Checks processed as received that day in check number order; and
  6. Miscellaneous adjustments

The posting order of deposits and withdrawals may change from time to time based upon regulatory requirements, technology or industry standards.

Transactions may not be processed in the order in which they occur. The order in which the transaction is processed may affect the total amount of overdraft fees incurred.

We recommend that at all times you maintain an accurate record of balances and transactions that you authorize for deposit or withdrawal from your account so sufficient funds are always available. We realize that unanticipated expenses may happen, but overdrafts should never be routine or intentional.

1The payment of transactions into overdraft is discretionary and we reserve the right to not pay. Generally, we do not pay overdrafts if you are not making regular deposits, or you have excessive overdrafts, or based on your account history and how you maintain your account. We may change your overdraft privileges due to poor account management. Our Overdraft Item Fee is $33 per item (max 4 per day). We will not charge you this fee if your balance is overdrawn by $20 or less, or the transaction overdrawing the account is $20 or less. Our Return Item Fee is $33 per item (max 4 per day). We will not charge you this fee if the amount of the transaction being returned is $20 or less. We may pay overdrafts for checks and other transactions using your account number and for automatic bill payments (ACH and recurring debit transactions), and if you give us permission, we may authorize and pay overdrafts for ATM transactions and everyday non-recurring debit transactions (individual debit card purchases such as grocery store or one-time online purchases). Our expectation is your bring your account to a positive balance immediately (including payment of all bank fees and charges).