It happens to the best of us: a simple error in your math, you forget about a certain check, you forgot about that debit card charge. For one reason or another, everyone has overdrawn their account.
No one likes having their card declined, and merchant NSF charges can be costly. At BankFirst Financial Services, we do not encourage overdrafts. In every respect, we encourage you to manage your finances responsibly. However, we want to help you avoid financial pitfalls and get peace of mind every time you pull out your debit card or write a check with one of our Overdraft Options.
Transfer from another account
With the BankFirst Transfer service, you link another BankFirst account--checking or savings--to your checking account and we will automatically transfer funds when your account balance falls below zero.
Funds will be transferred in increments of $10.00 once daily when your account falls below zero. A $2.00 automatic transfer fee will be charged for each automatic transfer that occurs. Transfers from savings accounts are limited to six automatic transfers per statement cycle. Any additional transfers from savings over the six will be made at an additional $2.00 service charge per transfer.
Overdraft Protection Line of Credit
With BankFirst's Overdraft Protection Line of Credit, sufficient funds will be transferred to pay any overdrawn amount up to your Overdraft Protection Line of Credit limit. Subject to credit approval, a limit of $500 or $1,000 will be available to cover any items that overdraw your account.
Funds will be transferred in increments of $100.00 once daily when your account falls below zero. A $6.00 cash advance fee will be charged for each advance. Interest will be charged on the line of credit's outstanding balance and repayment terms will be as specified in the overdraft protection agreement.
Overdraft Privilege Service
As long as you maintain your account in good standing, rather than automatically returning unpaid any non-sufficient items that you may have, BankFirst will consider, without obligation, payment of your reasonable overdrafts up to $500 per personal checking account, except Kasasa Tunes, which is eligible for $100, and FIRSTOpportunity, which is not eligible for OD Privilege Service. A $36.00 Non-Sufficient Fund fee will be charged for each item that overdraws your account. The maximum daily NSF charge will be $216, and if any item overdraws your account $30.00 or less, a NSF will not be charged for that item.
Overdrafts should not be used to pay ordinary or routine expenses and you should not rely on overdrafts as a means to cover these expenses. If at any time you feel you need help with your financial obligations, visit one of these recommended resources:
Federal Trade Commission (FTC) publication – "Choosing a Credit Counselor"
FTC website – Money Matters
You have the right to revoke your Overdraft Privilege Service. To revoke your opt-in for recurring debits, checks, and ACH transactions, log in to Online Banking and complete the Opt In/Out form (which is located under the "Account Changes" tab) or use one of these alternative ways to opt out.
- ATM & Debit Cards
Overdraft Rules for ATM & Debit Cards
An overdraft occurs when you make a debit card purchase or ATM transaction and do not have enough money in your account to pay for it. BankFirst will not authorize and pay overdrafts, nor charge you NSF fees, for everyday debit card and ATM transactions unless you opt in. Whatever your decision, our overdraft rules give you flexibility. If you opt in, you can cancel at any time. If you do not opt in, you can change this option at any time by logging in to Online Banking and completing the Opt In/Out form (which is located under the "Account Changes" tab) or use one of these alternative ways. To learn more about the overdraft rules for ATM and debit cards, read this brochure.