Overdrafts

What You Need to Know About Debit Card and ATM Overdrafts

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway.  We can cover your overdraft in two different ways:

  1. We have standard overdraft practices that come with your account.
  2. We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices.  To learn more, ask us about these plans.

Q:What are the standard overdraft practices that come with my account?
A:We DO authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments.

We DO NOT authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • ATM transactions
  • Everyday debit card transactions

Q:Does Taylor County Bank always pay overdrafts?
A:We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

Q:What fees will I be charged if Taylor County Bank pays my overdraft?
A:Under our standard overdraft practices:

  • We will charge you a fee of $29.00 each time we pay an overdraft.
  • Also, if your account is overdrawn for 3 or more consecutive business days, we will charge an additional $2 per day.
  • There is a maximum daily limit of $110 on the total fees we can charge you for overdrawing your account.

Q:What if I want Taylor County Bank to authorize and pay overdrafts on ATM and everyday debit card transactions?
A:If you want us to authorize and pay overdrafts on ATM and everyday debit transactions, call 270-465-4196 or check the box below and click Next to inform us of your option online.  If you do not opt in to everyday debit card and ATM transaction coverage, if such transactions will overdraw your account, they will be rejected.

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