Overdraft Protection Services
At First State Bank, we understand that sometimes mistakes or unforeseen events occur that may temporarily cause funds in your account to run short. To assist you, should this ever happen, we are pleased to offer our Courtesy Coverage discretionary overdraft services. These services are designed to provide you peace of mind and to avoid the embarrassment of a returned check or denied debit card or ATM transaction.
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Courtesy Coverage
Coverage
When a non-sufficient fund (NSF) item is presented against your account, instead of returning the item unpaid, First State Bank will strive to honor and pay the item.
Transactions
Courtesy Coverage applies to checks, pre-authorized automatic debit (ACH), or online bill pay transactions.
Eligibility
Your First State Bank checking account automatically provides you with Courtesy Coverage.*
Cost
First State Bank’s current OD/NSF fee of $33.00 will be charged to your account for each NSF transaction whether the NSF transaction is paid or returned. To be clear, First State Bank is under no obligation to pay items when your account has non-sufficient funds, even if previous NSF transactions were paid. However, with Courtesy Coverage, we will strive to pay your overdrafts whenever possible.
*If you do not wish to be included in the Courtesy Coverage service and would prefer to have all your non-sufficient fund items be returned or denied, please call 305-296-8535. Please know that an NSF fee of $33.00 will be assessed for each of the items that are returned.
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Courtesy Coverage Plus
Coverage
When there are non-sufficient funds in your account and an ATM or one-time debit transaction is conducted, instead of denying the transaction, First State Bank will strive to approve the item.
Transactions
Courtesy Coverage Plus applies to ATM and one-time debit card transactions.
Eligibility
A First State Bank debit card is required to add Courtesy Coverage Plus. Federal regulations require you to Opt-In to receive this additional coverage. Click on the Courtesy Coverage Plus Options button below to to read and choose the option that best fits your needs.
Cost
First State Bank’s current OD/NSF fee of $33.00 will be charged to your account for each NSF transaction. To be clear, First State Bank is under no obligation to approve items when your account has non-sufficient funds, even if previous NSF transactions were approved, however with Courtesy Coverage Plus we will strive to approve your ATM and one-time debit transactions that overdraft your account whenever possible.
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Courtesy Transfer
First State Bank offers our Courtesy Transfer service (also known as Overdraft Protection) which provides the ability to transfer money between accounts at no cost. If you are enrolled in Courtesy Transfer, that service will be accessed before the Courtesy Coverage or Courtesy Coverage Plus services in the event of an overdraft.
While we believe our Courtesy Coverage services are valuable options in the unlikely event you have an overdraft, we are not encouraging you to overdraw your account. Courtesy Coverage and Courtesy Coverage Plus are provided in anticipation that you will make a deposit as soon as possible to bring your account to a positive balance. Customers should not become dependent on this service to meet short-term cash needs and abuse of Courtesy Coverage services may result in suspension of service or account closure.
Courtesy Coverage/Courtesy Coverage Plus Suspension - You may be suspended from Courtesy Coverage services and/or your account may be closed if:
• You do not bring your account to a positive balance by the 34th day of continuous overdraft
• You fail to meet our eligibility criteria
• If you meet the eligibility criteria, we may still remove Courtesy Coverage service if we believe you are not managing your account in a responsible manner which may harm you or us