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We understand that overdrafts occasionally happen. We will take care of you if they do. Overdraft Privilege is a discretionary, non-contractual service provided to our customers and our way of saying "thank you" for being a First United Bank checking account customer. If you need to write a check, but are a little short of funds, make an error in your account register, or overspend by mistake; Overdraft Privilege is there to provide a convenient cushion to cover the unexpected. In addition to potentially avoiding embarrassment, Overdraft Privilege may save you money as well, by eliminating the fee normally charged by merchants for checks returned to them. Since the amount of discretionary Overdraft Privilege will be included in your balance, it 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.
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| BENEFITS: |
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- Peace of mind
- Convenience
- No more returned checks
- Varying overdraft limits (depending on account type) **
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| FEATURES: |
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Offered on personal
accounts open for at least thirty
(30) days and
sixty (60) days for business accounts.
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Must maintain
a good standing account*.
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First United Bank will consider, as a courtesy and not a right or obligation, approving your reasonable overdrafts.
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Overdrafts are covered up to $700 on personal accounts and $1,000 on business accounts.
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With Overdraft Privilege, there is no monthly fee. You only pay for it when and if you need it.
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If we choose to pay an overdraft item on your behalf, your account will be charged an insufficient fund fee, currently $20, but the overdrawing check will be paid rather than returned unpaid.
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| OVERDRAFT
PRIVILEGE LIMITS* |
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ODP Limits
are assigned by product type. The limits
are as follows: |
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| FUB
Club Checking |
$300 |
| First Choice Checking |
$500 |
| Value Plus Checking |
$500 |
| Platinum
Club Checking |
$500 |
| Total
Package 55 Checking |
$700 |
| Advantage
NOW Checking |
$700 |
| Business Checking |
$1,000 |
| Analysis Checking |
$1,000 |
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The maximum overdraft privilege amount 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 up to the account limit following
the first thirty (30) days the account
is open for personal accounts and sixty
(60) days the account is open for business
accounts. If during that time the account
is handled in a satisfactory manner,
Overdraft Privilege can be increased
up to $700 with Direct Deposit for
personal accounts and $1000 for business
accounts. A fee may be imposed for
covering overdrafts created by check,
in-person withdrawal, ATM withdrawal,
or other electronic means as applicable. A
$20 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. You
should promptly return the overdrawn
deposit account to a positive balance
to avoid the 18% daily overdrawn account
charge. 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
First United Bank Customer Service
Representative. |
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