Overdraft Protection

Gain peace of mind with Overdraft Defender

Has it been awhile since you’ve balanced your checkbook or have you had an unanticipated expense? These things can result in an overdraft of your account, meaning bounced checks or declined transactions. Luckily, State Bank has a solution to prevent this situation: Overdraft Defender.

How does Overdraft Defender work?

Overdraft Defender is linked with your checking account. When you overdraw your account with a covered transaction, the amount is covered by State Bank. We will then send you a notice reflecting the items paid as well as the bank’s standard overdraft charge of $30.00.

Transactions covered under this overdraft protection include:

• Checks and other debits at teller windows
• ACH debit transactions
• Automatic loan payments
• Checks written to a third party
• ATM transactions (if authorized by you)*
• Debit card transactions (if authorized by you)*

There may be circumstances under which the bank will not pay an overdraft.**

What limits are in place for Overdraft Defender?

The following limits exist for the use of overdraft protection:

• Personal checking- $300
• Interest checking- $500
• Small business checking- $1,500

If these limits are exceeded, your check may be returned to you in addition to a $30.00 returned items fee being charged to your account.

For more information about Overdraft Defender, contact the State Bank office nearest you today!

Automatic Transfer from Another Account

You may initiate an automatic transfer authorization to have funds transferred from another account at the Bank to cover an overdraft.

How long do I have to repay the bank?

We require you to bring your account into a positive balance within 15 calendar days of the overdraft. If your account is still in a negative position, State Bank may close your account and take steps to recover the funds and fees incurred by the bank.

*If you authorized the Bank to pay overdrafts on ATM and everyday debit card transactions, Overdraft Defender may extend to these transactions.

**Normally, we will not approve an overdraft for you in excess of our limit, including any overdraft handling charges.  We may refuse to pay an overdraft for you at any time even though we may have previously paid overdrafts for you.  You will be notified by mail of any non-sufficient funds items paid or returned; however, we have no obligation to notify you before we pay or return any item.

If the overdraft checking service is suspended on three occasions in a 12 month period, the overdraft checking service will be revoked for a period of at least 6 months.  The fees charged for the items paid into overdraft, as well as the amount of the overdraft item(s), will be subtracted from the disclosed overdraft protection dollar limit.