Online Banking

Home Personal Checking Overdraft Defender

Overdraft Defender

Overdraft Defender ®

It's A Privilege For Our Checking Account Clients

Unanticipated expenses or mathematical errors can leave your checking account short of cash.  In addition, having a check returned due to insufficient funds is terribly embarrassing.

We have created Overdraft Defender as a special privilege specifically for The Farmers State Bank checking account clients whose accounts are in good standing.  There is absolutely no charge for this service unless you use it.


  How Does It Work?

As long as you maintain your Farmers State Bank checking account in good standing, we may, at our discretion, honor your overdrafts up to the limit assigned.  If you use Overdraft Defender, the Bank will deduct its normal overdraft charge of $25.00 per item.  We will notify you when an overdraft occurs.  The notice will reflect the item(s) paid, as well as the bank™s charge for the overdraft item(s).  It is important to subtract the fees from the balance in your checkbook.


  Going Over Your Overdraft Defender Limit

Should you write checks that put you over your Overdraft Defender limit, the Bank may, at our discretion, return the check or checks to the payee(s).  In addition, the normal insufficient funds fee of $25.00 per item will be charged to your account.  An insufficient funds notice will be sent to you.

If your checks are 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 or vendor 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 Covered By Overdraft Defender

Transactions which may, at our discretion, be honored under the Overdraft Defender privilege include:

  1. Checks and other debits cashed at teller windows
  2. ACH debit transactions (automatic payments)
  3. Automatic loan payments
  4. Checks issued to a third party


Overdraft Defender May Cover ATM and Debit Card Transactions

If you select the do option on the debit and ATM card authorization, your Overdraft Defender privilege may extend to transactions made at an ATM or with your Debit Card.  In the case of an ATM, the balance shown on your receipt will reflect your actual balance, not including your Overdraft Defender limit.


Overdraft Defender Covers All Existing Eligible Accounts

Overdraft Defender privileges may be granted on all checking accounts in good standing.


Repaying Overdrafts And Fees

You will be required to bring your checking account into a positive balance within 15 calendar days of your overdraft.  If, after 15 days your account remains in a negative position, we may close your account and take appropriate steps to recover funds advanced to cover your overdrafts, as well as the Bank™s fees.


  Overdraft Defender Is In Force Today

Overdraft Defender privileges may start the moment you open your personal checking account.


Overdraft Checking Customer Overdraft 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 Farmers State 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 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, ACH, check or automatic payment.  In addition, if you select the do option on the debit and ATM card authorization, you may be able to access your overdraft checking limit through an ATM or debit card purchase.

LIMITATIONS:  Available to 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.  We pay checks received from other customers or other financial institutions in check number sequence when the check number is provided.  Farmers State Bank reserves the right to limit participation to one account per customer and to discontinue this product at any time with prior notice.  Please advise a Customer Service Representative if you do not wish to have this service available on your account.