Overdraft Protection
Mistakes happen. It's good to know that Urban Trust Bank gives you the tools you need to avoid them--and the protection you need when you don't.
You can monitor your account through Online Banking, create Account Alerts, and establish Transfer Links for a cost of $5 for each transfer between checking and savings accounts to provide the added overdraft protection. If you don't have enough in your savings, Urban Trust Bank can cover your overdraft transaction through our Overdraft Privilege Service for you to ensure you aren't denied what you need up to a maximum of $550. Please follow this link to our Overdraft Privilege Disclosure to learn more about our Overdraft Privilege Services.
- Summary
- Gain peace of mind by monitoring your account through our Online Banking
- Create Account Alerts when your balance is low or when checks clear
- Establish Transfer Links from your savings account; $5 fee for each automatic transfer
- Cover Overdrafts through Urban Trust Bank's Overdraft Privilege Service; $34 fee per occurrence. Learn more about this service by following this link to our Overdraft Privilege Service Disclosure.
*Overdraft services are provided at the discretion of Urban Trust Bank. We do not guarantee that we will authorize and pay any and all types of transactions.
- Understanding Overdrafts
Avoiding Overdrafts
Use the following steps to avoid overdraft or non-sufficient funds (NSF) fees:
- Keep a checkbook ledger and include your check, debit card, and online bill pay transactions daily
- Monitor your account daily through Online Banking to review and reconcile your daily balance
- Use Account Alerts through online banking to alert you when your balance is low or when your checks clear
- Use our automated telephone banking center to assist in reconciling your checking account
- Establish Transfer Links from your savings account to your checking account to provide the lowest cost overdraft protection ($5 per automatic transfer)
Your Available Balance
Consider the following when checking your current available balance:
- Deposits made at a banking center or ATM may not be available immediately.
- ATM withdrawals are deducted from your account immediately. (Point-of-sale purchases show as pending in online banking and generally will be deducted the next business day.)
- Available balances do not include upcoming automatic payments or checks you have written but have not yet been cashed.
Paid Overdraft Fees vs. Return Non-Sufficient Funds (NSF) fees
During each business day your transactions including checks, debit card transactions, and online payments are presented to Urban Trust Bank to be paid.
Paid Overdraft fees occur when items presented for clearing or payment exceed the available balance in your account, but the bank pays the item(s) as a courtesy. There is a $34 fee per occurrence for this overdraft courtesy.*
There is a limit of four (04) total Paid Overdraft fees per day we can charge you for overdrawing your account, provided the total fees are commensurate with the total number of paid overdrafts on your account. You will not be assessed overdraft fees for a transaction(s) that overdraws your account balance for $5 or less.
Return Non-Sufficient Funds (NSF) fees occur when items presented for clearing or payment exceeds your available balance, but the bank does not pay the item(s). Instead, they are returned unpaid and a non-sufficient funds fee of $34 per occurrence is charged to the account.*
For more information regarding overdraft protection, please contact customer service at 800-584-0015 or sign into online banking and access the Opt-In Form.
*When your account is overdrawn, Urban Trust Bank will generate a notice of your account status the same business day. This notice will be mailed. You have 10 days to bring your account current. If your account balance is not restored in 30 days, your overdraft privileges may be suspended.
