Overdraft Services

Overdraft Services offer you protection when an unexpected overdraft occurs. It is initiated when funds withdrawn from your account meet the criteria of the service (or services) that you’ve chosen. SNBT offers many options to protect your accounts, including Overdraft Protection, Debit Card Overdraft Consent Service, and Overdraft Consideration.

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Overdraft Protection

Overdraft Protection is sometimes referred to as a “sweep” because it sweeps money from a chosen account, like your savings account, to your checking account to cover an overdraft. This is a simple backup-plan option! The charge for an Overdraft Protection transfer ($7) is significantly lower than that of a standard overdraft charge ($30), and your account will automatically be back in good standing.

Debit Card Overdraft Consent Service

Debit Card Overdraft Consent Service can prevent your Debit Card from being declined due to a lack of funds. It may temporarily allow your account to be overdrawn, but it does charge a fee for that allowance. Debit Card Overdraft Consent Service may allow a transaction to process at the register (instead of being declined) and your account would receive the standard $30 overdraft charge.

Overdraft Consideration

Did you know merchants can attempt to take a payment multiple times if it’s declined? With Overdraft Consideration, the bank may cover your inadvertent overdraft so you can avoid merchant charges from declined transactions or returned checks. For example, let’s say the auto-payment for your utilities is set to come out of your checking account, but you don’t have enough money to cover the bill. Overdraft Consideration may allow the payment to go through for the full amount. Your account would receive the standard $30 overdraft charge, but having Overdraft Consideration cover that payment right away means the utility company won’t attempt to re-run that same payment multiple times (which could lead to duplicate merchant charges and overdraft charges).

How the bank might charge if you don't have enough funds in your account to cover your items

An item is a check or an ACH automatic payment from a purchase you make or a bill you pay. (This does not include possible charges for multiple items that may be trying to post for payment).   

EXAMPLE:  

  1. If you don’t ensure you have enough money in your account to cover the amount of the item you have initiated, the bank may return the item and charge a non-sufficient fund fee of $30.
  2. The store or place where your purchase was made or where your bill was paid may try to put the item through a second time to get their payment, and if there is still not enough funds in your account to cover it, the bank may return it again and charge another non-sufficient fund fee of $30.
  3. There could be a third attempt by the place where your purchase was made or where you paid your bill to re-present the item to the bank so they can get their payment. If you still don’t have enough funds in your account to cover the item, the bank may return the item and charge an additional $30 for non-sufficient funds. At this point the charges are $90 for this one item.

(Keep in mind this is only the possible bank charges, not what merchants/billers may charge in fees)

Keep An Eye On Your Account Balance to Avoid Overdrafts

  • Monitor your balance using: Bank Online, eAlerts, Mobile Banking, Bankline, and eStatements.
  • Keep your check register up-to-date and be sure to deduct all withdrawals — including reoccurring automatic bill payments, ATM transactions, bank charges, Debit Card purchases, & online payments.
  • Remember that the balance on your ATM receipt, Bank Online, or Bankline may not reflect some outstanding transactions.
  • Promptly compare your check register and your bank statement to look for errors or unauthorized transactions.
  • Remember PIN-based Debit Card transactions will be immediately deducted from your checking account.

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