Overdraft Protection and Overdraft Privilege

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

¹Call us at (866) 319-4093, email us through online banking, or come by a branch to sign up or apply for these services; ²Subject to credit approval.

Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account, or line of credit you may have at First Bank 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 up to the disclosed limit for a fee to pay a transaction. Even if you have Overdraft Protection from another account, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Please review What Else You Should Know for other important information.

*If you choose Extended Coverage on your consumer account, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Overdraft Privilege Extended Coverage, it is not necessary to request it again. Business accounts automatically have Extended Coverage.

You can discontinue Overdraft Privilege in its entirety by contacting us at (866) 319-4093 or sending us an email through online banking.

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• A link to another account or line of credit may be less expensive than an overdraft. A single larger overdraft will result in one fee, instead of multiple smaller overdrafts. Use our mobile, online, and telephone banking services to track your balance. For financial education resources, please visit www.mymoney.gov.
• The $30 Overdraft Fee that is charged if you overdraw your account is the same fee that is charged if an item is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft Fee or a Returned Item Fee of $30. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn more than the Overdraft Privilege limit amount because of a fee.
• Accounts will be charged the standard Overdraft fee of $30 for handling each overdraft created by check, ACH, Point-of-Sale, ATM withdrawal, in-person withdrawal, or other electronic item that is paid and $30 Fee for items returned. An overdrawn balance must be repaid within 32 days.  We may not pay items under your Overdraft Privilege if you do not maintain your account in good standing by bringing your account to a positive balance within every 32 days for a minimum of 24 hours, if you default on any loan or other obligation to First Bank, or if your account is subject to any legal or administrative order or levy.
• Recipients of federal or state benefits payments who do not wish us to deduct the amount overdrawn and the Overdraft Fee from funds that you deposit or that are deposited into your account may call us at (866) 319-4093 to opt out of the service.
• If an item is returned because the available balance (as defined below) in your account is not sufficient to cover the item and the item is presented for payment again, First Bank (“We”) will charge a Returned Item Fee each time it returns the item because it exceeds the available balance in your account. Because we may charge a Returned Item Fee each time an item is presented, we may charge you more than one fee for any given item as a result of a returned item and representment of the item. When we charge a Returned Item Fee, the charge reduces the Available Balance in your account and may put your account into (or further into) overdraft. If, on representment of the item, the Available Balance in your account is sufficient to cover the item we may pay the item, and, if payment causes an overdraft, charge an Overdraft Fee.
• For consumer and business accounts, there is a limit of 5 Overdraft Fees ($150) per day that we will charge. We will not charge an Overdraft Fee if a consumer or business account is overdrawn by $5 or less or if the amount of the item is $5 or less. 
• Our general policy is to post items throughout the day and to post ACH credits before debits. We process ATM/Debit Card transactions first by dollar amount - smallest to largest. We process cash withdrawals and internal debits second, by dollar amount - smallest to largest on the day they are processed. We process ACH payments/debit transactions, checks and account transfers third, by dollar amount - smallest to largest on the day they are processed. However, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies. Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of Overdraft Fees or Returned Item Fees assessed. 
• Although under payment system rules, First Bank may be obligated to pay some unauthorized debit card transactions, First Bank will not authorize debit card or ATM transactions unless your account’s available balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any fee(s). 
• Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring Overdraft Fees for transactions that we would otherwise be required to pay without assessing an Overdraft Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may also help you avoid overdrafts in excess of your available balance. If you consent to Extended Coverage on your consumer account, it will remain on your account until it is otherwise withdrawn. 
  Understanding your Available Balance: Your account has two kinds of balances: the Ledger Balance and the Available Balance.
• We authorize and pay transactions using the Available Balance. 
• Your Ledger Balance reflects the full amount of all deposits to your account as well as payment transactions that have been posted to your account. It does not reflect checks you have written and are still outstanding or transactions that have been authorized but are still pending. 
• Your Available Balance is the amount available to you to use for purchases, withdrawals, or to cover transactions. The Available Balance is your Ledger Balance, less any holds due to pending debit card transactions and holds on deposited funds. 
• The balance used for authorizing checks, ACH items, and recurring debit card transactions is your Available Balance plus the amount of the Overdraft Privilege limit and any available Overdraft Protection. 
• As Standard Coverage does not include ATM transactions or everyday debit card transactions, the Overdraft Privilege limit is not included in the available balance when authorizing ATM and everyday debit card transactions on accounts with Standard coverage. However, any available Overdraft Protection plans would be included in the available balance when authorizing ATM transactions and everyday debit card transactions. 
• The balance used for authorizing ATM and everyday debit card transactions on accounts with Extended Coverage is your Available Balance plus any available Overdraft Protection and includes the Overdraft Privilege limit. 
• Because your Available Balance reflects pending transactions and debit holds, your balance may appear to cover a transaction but later upon settlement it may not be sufficient to cover such transaction.  In such cases, the transaction may further overdraw your account and be subject to additional overdraft fees. You should assume that any item which would overdraw your account based on your Available Balance may create an overdraft.  Note that we may place a hold on deposited funds in accordance with our All About Your Deposit Account Agreement and Disclosure, which will reduce the amount in your Available Balance. 
• Please be aware that the Overdraft Privilege amount is not included in your available balance provided through online banking, mobile banking or First Bank’s ATMs.
• We will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules.  In some cases, the hold may exceed the amount of the transaction.  When the hold ends, the funds will be added to the available balance in your account.  If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Overdraft Fee may be assessed.
• Except as described herein, we will not pay items if the available balance in your account (including the Overdraft Privilege limit, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).
• New consumer checking accounts will receive a $100 introductory Overdraft Privilege limit at account opening that will be increased to $500 ($750 with an average of $1,500 or more in ACH credits posted to the account) after 30 calendar days and in good standing. 
• New business checking accounts will receive a $100 introductory Overdraft Privilege limit at account opening that will be increased to $750 ($1,000 with an average of $1,500 or more in ACH credits posted to the account) after 60 calendar days and in good standing. 
• Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice. 
• Overdraft Privilege may be reduced if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within 32 consecutive calendar days for a minimum of one business day. You must bring your account balance positive for at least one business day to have the full Overdraft Privilege limit reinstated.
• Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the All About Your Deposit Account Agreement and Disclosure. The total (negative) balance, including all fees and charges, is due and payable upon demand.

If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at (866) 319-4093 or visit one of our branch locations.