Premier Bank offers several options to protect your checking account in the event a transaction results in an overdrawn balance.
Premier Bank may authorize overdrafts and assess an overdraft fee on transactions made by check, ACH, and other automatic payments.
Premier Bank will not authorize any ATM and debit card transactions that will overdraw your account without first receiving your affirmative written consent to do so by opting-in to the bank’s Overdraft Privilege Program (see below for details).
Below is a list of Premier Bank’s overdraft protection options.
1. OVERDRAFT PRIVILEGE PROGRAM
Cost: free enrollment; current overdraft fees apply
Premier Bank will authorize and assess an overdraft fee on transactions made by ATM and debit card transactions that will overdraw your account up to a pre-determined limit for eligible consumers. Overdraft fees will be added to any outstanding overdrafts you may have and will be applied against your overdraft limit. Your account will be charged the current fee for each item whether paid or returned unpaid.
This service is offered at the discretion of Premier Bank and may be revoked at the discretion of Premier Bank.
This overdraft option requires your affirmative written consent by opting-in to the program. To sign-up for this overdraft option, contact a bank representative at 563-588-1000.
2. AUTOMATIC TRANSFER AGREEMENT
Cost: $10.00 per transfer
Transfers from your checking, savings or money market account will be made in multiples of $100 to cover each overdraft in your checking account. ATM and debit card transactions will only be authorized based on an available balance in your transfer account.
To sign-up for this overdraft option, contact a bank representative at 563-588-1000.
3. OVERDRAFT LINE OF CREDIT
Cost: $20.00 annual fee
Advances in increments of $100 on an eligible line of credit can be made to cover each overdraft on your checking account up to your credit limit. ATM and debit card transactions will only be authorized based on an available balance in your line of credit. Interest will be charged per your loan agreement on the outstanding balance on your line of credit.
To apply for this overdraft option, contact a bank representative at 563-588-1000.