BankFive Overdraft Privilege applies to overdrafts caused by checks, in-person withdrawals, ACH transactions, preauthorized automatic transfers, internet banking, mobile banking and telephone banking transactions. When an account has insufficient funds to cover a check presented for payment, Overdraft Privilege allows the check to clear, the account to have a negative balance, and a $35 fee is charged for each item presented. No application is required for our BankFive Overdraft Privilege; eligibility is at the sole discretion of BankFive and is based on you managing your checking account in a responsible manner. Must be 18 or older to be eligible. If the account does not have Overdraft Privilege, the item is rejected and a $35 fee is assessed.
ATM and one-time debit card transactions will not be covered by this service unless you have elected to OPT IN to this service. You must call our Customer Contact Center, complete a form in a branch or through secure message in online banking to opt-in to ATM and one-time debit card transactions.
For the full Overdraft Privilege Disclosure,
click here.