Sometimes, all it takes is one unexpected expense to put a strain on your checking account. At Banterra, we know that mistakes happen and overdrawing on your checking account can happen to anyone. With Banterra Overdraft Protection services, you’re protected from the standard overdraft fees that would normally apply in these situations.
The simplest way to prevent overdrafts is to make sure you’re always aware of the balance of your account. We encourage you to utilize our convenient Digital Banking offerings to monitor balances, make deposits and even set up alerts for your accounts. These alerts will notify you if your balance falls below a certain level.
You can avoid being overdrawn in your checking account by signing up for Overdraft Protection. If your account does not have funds to cover items, this service will automatically transfer funds from your designated accounts, up to the available balance in the accounts. We can set up Overdraft Protection for your eligible personal and business accounts, as these transfers are not a loan.
These accounts include:
You can choose from one of the following options:
It’s easy to sign-up for Overdraft Protection. Simply fill out a form in Digital Banking or visit your local Banterra branch to enroll.
A small, one-time set-up fee of $4.50 is required to sign-up for Overdraft Protection. This fee is automatically charged to the protected checking account.1 A $10 daily fee will be assessed each day a transfer occurs. Without Overdraft Protection, our standard overdraft practice will apply which is $37 each time we pay an overdraft item in your account.
1 Customer signing up for Overdraft Protection must be the owner on all funding accounts and the protected checking account. Consumer accounts can only be funded by consumer accounts; business accounts can only be funded by business accounts. Some reasons why funds will not be transferred include these events: Not sufficient funds available in the funding account; account is pending closed status or is a debit post restricted account; loan is delinquent, at maturity, or bankruptcy.
As part of your Banterra checking service, you are charged $37 each time we pay an overdraft item in your account. With Overdraft Protection, a single Overdraft Protection transfer fee of $10 per day is charged to your account, regardless of the number of transactions presented for payment that day. This transfer fee will be waived if the overdraft amount is $5 or less or if the amount needed to maintain the target balance is $5 or less.
| Overdraft Options | Number Of Overdraft Items Per Day | Total Fees |
|---|---|---|
| Standard Overdraft Practice | 4 | $148 |
| Overdraft Protection | 4 | $10 |
