Overdraft Fee Information

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Important Information Regarding ATM and One-Time Debit Card Transactions

What do I 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 or a line of credit, which may be less expensive than our standard overdraft practices.

To learn more, ask us about these plans.

What are your standard Overdraft practices?

Currently:

We do authorize and pay overdrafts for the following transactions:

  • Checks and other transactions made using your checking account number.
  • Automatic bill payments.
  • 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.

As of August 15th for Existing Customers:

As of July 1st for New Customers:

We do authorize and pay overdrafts for the following transactions:

  • Checks and other transactions made using your checking account number.
  • Automatic bill payments.

We will not authorize and pay overdrafts for the following transactions unless you ask us to:

  • 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 you pay my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30 each time we pay an overdraft.

What if I want you to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you would like Bank of Stanly to authorize and pay overdrafts on your ATM and everyday debit card transactions, call us or visit one of our locations for more information.