What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in different ways:
- We have standard overdraft practices that come with your account.
- We also offer other overdraft protection plans which may be less expensive than our standard overdraft practices. To learn more, ask us about:
- funds transfer via link to another deposit account
- advance from a line of credit
This notice explains our standard overdraft practices.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
- Checks and other transactions made using your checking account number
- Automatic bill payments
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.
- ATM Transactions
- Everyday debit card transactions
If we do not authorize and pay an overdraft, your transaction will be declined.
What fees will I be charged if Farmers Bank and Trust Company pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $25 each time we pay an overdraft.
- We have a daily overdraft limit of $100.00.
What if I want Farmers Bank and Trust Company to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 270-365-5526 or complete the form below.
You have the right to revoke the consent at any time.