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A.O.P - Banking / Checking / Personal Features / ASB home
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What could Automated Overdraft Privilege* mean for you?
No more charges from retailers for insufficient checks!
Make a mistake – you’re covered!
Write a check for more than you have in the bank – you’re covered!
Rather than returning a check unpaid, we will pay it and save you time and money!
If you account is an eligible personal checking account, automated overdraft privilege could mean that we would pay overdrafts up to $500.
We will charge our
usual overdraft fee of $29.75 per item, which overdraws your account.
This service requires no action on your part. You do not have to sign any
additional forms or documents. And it doesn’t cost you until you use it.
Eligibility Requirements:
You must maintain your account in good standing, defined as:
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Making regular deposits every thirty (30) days or less
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Bringing the account to a positive balance every thirty (30) days or less
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There are no garnishments, levies (whether legal or otherwise) outstanding currently or within a ninety (90) day period
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The account must have been opened at least sixty (60) days and a minimum of eight (8) debit transactions must have been completed on the account during the sixty(60) day period
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No more than four (4) checks drawn on insufficient funds during the sixty (60) day period referred to above
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The account holder or holders are not in default on any loan obligation to the bank
If all criteria are met the
limit for the overdraft protection is $500. These limit amounts include the
$29.75 per item overdraft fee.
*Available to American State Bank checking account customers in good
standing.
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