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We understand that overdrafts occasionally happen. Overdraft Privilege is a discretionary, non-contractual service provided to our customers. If you make an error in your account register, or overspend by mistake; Overdraft Privilege is there to provide a convenient cushion to cover the unexpected. Overdraft Privilege may be available to you at ATMs for cash withdrawals and may also be available when you use your FirstCard Check Card for purchases at retail merchants; however fees may be charged. |
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FEATURES |
- Must maintain a good standing account *.
- First United Bank will consider, as a courtesy and not a right or obligation, approving your reasonable overdrafts.
- Overdraft limits vary.
- With Overdraft Privilege, there is no monthly fee. You only pay for it when and if you need it.
- If we choose to pay an overdraft item on your behalf, your account will be charged an insufficient fund fee, currently $25, but the overdrawing check will be paid rather than returned unpaid.
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OVERDRAFT PRIVILEGE LIMITS |
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Overdraft Privilege Limits are assigned by product type. The limits are as follows: |
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FUB Club
First Choice Checking
Value Plus Checking
Platinum Club
Total Package 55
Advantage NOW
Business Checking
Analysis Checking
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$300
$500
$500
$500
$700
$700
$1,000
$1,000 |
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In addition, any account with Direct Deposit (including FUB Club) is eligible for up to a $700 limit. The limit assigned to a particular customer may also be increased upon officer approval. The maximum for personal checking accounts is $700 and the maximum for business checking accounts is $1,000.
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*Good standing with the bank includes: (1) Making regular deposits consistent with your past practices (2) Depositing an amount equal to the amount of discretionary courtesy overdraft extended to you or more in your account within each thirty (30) day period. (3) You are not in default on any loan or other obligation to First United Bank (4) You are not subject to any legal or administrative order or levy.
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** Each checking account is eligible for Overdraft Privilege following the first thirty (30) days for individual, or sixty (60) days for business, that the account is open, if during that time the account is handled in a satisfactory manner. Overdraft Privilege can be increased up to $1,000 on business accounts with Direct Deposit. A fee may be imposed for covering overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic means as applicable. A $25 per item fee will be imposed for NSF and overdrawn items. An interest rate of 18% will be assessed daily on the overdrawn balance (negative balance) on the account. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or if you have too many overdrafts.
You may opt out of the Overdraft Privilege Program at any time by contacting a customer service representative at First United Bank.
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