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Overdraft Defender

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Save the Embarrassment of an Overdrawn Account

Declined transactions and returned checks are not only embarrassing, but also damaging to your finances. Overdraft Defender from Titonka Savings Bank provides support in the event you overdraw your account.

How Overdraft Defender Works

There is no charge for Overdraft Defender unless you use it. As long as your checking account is in good standing, Titonka Savings Bank will honor overdrafts up to the pre-established limit.

When your account is overdrawn, Overdraft Defender covers the transaction. You will then be notified by mail of the $25.00 standard fee per item, plus the amount that was covered by Overdraft Defender.

Overdraft Defender Limits:

  • Regular Checking: $300
  • Interest Checking: $500

You will required to bring your checking account balance above zero within 15 days of your overdraft. If your account is still negative, Titonka Savings Bank may close your account and take steps to recover the funds used to cover your overdrafts and bank fees.

Going Over Your Overdraft Defender Limit

If you write a check that puts you over the pre-established limit for Overdraft Defender, Titonka Savings Bank will return your check(s). Your account will be assessed a $25.00 insufficient funds fee and a notice will be sent to you. If you have a check returned:

  1. The merchant may charge you a fee when your check is returned unpaid and may be unwilling to accept checks from you in the future.
  2. The person who accepted your check as payment may be charged a fee by his/her bank where he/she deposited your check.
  3. Your credit rating may be adversely affected.

Transactions and Accounts Covered by Overdraft Defender

The following transactions may be covered under Overdraft Defender’s privileges (may change at the bank’s discretion):

  • Checks and other debits cashed at teller windows
  • ACH debit transactions (automatic payments)
  • Automatic loan payments
  • Checks issued to a third party

Overdraft Defender also may cover debit cards and ATM transactions when you sign the opt-in authorization. Overdraft Defender covers all eligible personal checking accounts in good standing, but does not cover commercial and/or business checking accounts.

Contact Titonka Savings Bankfor Questions About Overdraft Defender

For any questions regarding your privileges with Overdraft Defender, or to opt out of the service please contact Titonka Savings Bank in Titonka, Forest City and Thompson.

Overdraft Defender Policy

An insufficient balance could result in several ways, such as: a) the payment of checks, electronic funds transfers, or other withdrawal requests; b) payments authorized by you; c) the return of unpaid items deposited by you; d) the assessment of bank service charges; or e) the deposit of items which, according to the bank’s Funds Availability Policy, are treated as not yet available or finally paid. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds. Rather than automatically returning, unpaid, any non-sufficient funds items that you have, if your eligible account is in good standing, which includes at least: a) you are not in default on any loan obligation to TSB Bank, b) you bring your account to a positive balance (not overdrawn) at least once every fifteen (15) calendar days, and c) your account is not the subject of any legal or administrative order or levy, we will consider – as a discretionary courtesy or service and not a right of yours nor an obligation on our part – approving your reasonable overdrafts. As an alternative, you may wish to apply for a Ready Reserve Account and pay an annual fee of $20.00 plus 18.0% interest when the credit line is used or you may initiate an automatic transfer authorization to have funds transferred from another account at the Bank to cover an overdraft. Normally, we will not approve an overdraft for you in excess of your limit including any overdraft handling charge(s). 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 that you have; however, we have no obligation to notify you before we pay or return any item. The amount of any overdraft plus our overdraft or non-sufficient funds charge(s) of $25.00 per item that you owe us shall be due and payable upon demand. If there is an overdraft paid by us on an account with more than one (1) owner on the signature card, each owner, and agent if applicable, drawing/creating the item creating the overdraft, shall be jointly and severally liable for such overdraft, plus our overdraft or non-sufficient funds handling charge(s) of $25.00 per item. You may be able to access your overdraft checking limit through a teller, ATM, ACH, check, debit card purchase or online banking.

LIMITATIONS: Available to individually owned accounts in good standing for personal or household use. 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 six months. The fees charged for the items paid into overdraft or returned, as well as the amount of the overdraft item(s), will be subtracted from the disclosed overdraft protection dollar limit. The order in which transactions are received and processed can affect the total amount of overdraft fees incurred by a customer. TSB Bank reserves the right to limit participation to one account per household and to discontinue this product at any time with prior notice.

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