Overdraft Services
Having insufficient funds in your account can put you at risk for bouncing checks or having your ATM/Debit Card transactions denied at a gas station or store. Farmers Bank has several options for making smart decisions about managing your overdrafts.
Courtesy Select & Courtesy Select PLUS
Rather than returning your checks or electronic transactions when you have insufficient funds, Farmers Bank will strive to pay overdrafts for you. We only offer this service to customers who keep their accounts in good standing. 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 you are not making regular deposits, or you have too many overdrafts.
- Overdraft fee applies
- Opt in required to include your one time ATM/POS transactions
Transfer from Other Farmers Bank Accounts
You designate a back-up checking or savings account to cover overdrafts. In the event your checking account does not have funds available to pay a transaction presented, funds will be transferred from the designated account to your checking account. The transfer will be in increments of $100. The amount of the overdraft transfer is limited by the available balance in your designated account.
- Automatically transfers funds
- Our most economical overdraft service
Chequeline Overdraft Protection
Our Chequeline Overdraft Protection, a Line of Credit, provides funds, in increments of $100, that automatically transfers into your checking account when needed. Chequelines are subject to credit approval and interest rates apply.
Please contact your local branch for additional details or to sign up for any of our overdraft products.
| Features | Courtesy Select & Courtesy Select PLUS | Transfer From Another Farmers Bank Checking or Savings Account | Chequeline Overdraft Protection | No Overdraft Protection |
| How does it work? | Bank may pay overdraft transaction(s) on your behalf. | Funds are transferred from an account you designate to cover overdraft transactions. | Line of credit that covers overdraft transactions. | Checks may be returned and retailer returned check fees may apply. When you do not have enough money in your account, ATM and Debit Card transactions will be declined. |
| Associated Fee* | $35 per item | no fee | no fee | $35 per item. |
| Limitations | Courtesy Select is subject to bank approval. Courtesy Select PLUS requires Opt In for personal accounts. | Transfer amount is limited by amount available in your account (s). | Transfer amount is limited by amount available on your line of credit. | No overdraft protection. |
| Benefits | Reduces the cost of returned check fees. | Overdrafts are paid with funds from your account(s). | Overdrafts are paid from your line of credit, covering one or several transactions. | |
| Repayment Terms | Repay the overdraft balance including fees by making an immediate deposit. | None | Payments due monthly based on balance owed on the Chequeline. Contact us to learn more. | Repay the overdraft balance including fees by making an immediate deposit. |
* All fees associated with consumer accounts are subject to change with proper notice.
Personal accounts
Overdraft fees are $35.00 per item daily.
Overdraft fees are capped at 5 items per day and may be created by check, in-person withdrawal, automatic bill payments or other transactions made using your checking account number.
Overdraft fees will not apply until one or more items cause your final daily balance to be overdrawn by $50.00 or more.
Business Accounts
Non-sufficient funds fees and Overdraft fees are $35.00 per item daily.
Non-sufficient funds fees and Overdraft fees will be capped at 5 items per day and may be created by check, in-person withdrawal, automatic bill payments or other transactions made using your checking account number.
Non-sufficient funds fees and Overdraft fees will not apply until one or more items cause your final daily balance to be overdrawn by $5.00 or more.
The daily overdraft fee is charged the 5th business day the account is overdrawn. The daily overdraft fee will be charged each business day after that until your account returns to a positive balance or the daily overdraft fee has been charged for 30 days. The daily overdraft fee is in addition to any other applicable overdraft or non-sufficient funds fees. You can avoid this fee by depositing funds into your account to cover the current overdrawn balance.
