Overdrafts & Overdraft Fees
BANK OF MOUNT HOPE
We will not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below).
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 the item anyway. We can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
We have standard overdraft practices that come with your account. 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:
- Checks and other transactions made using your checking account number
- Automatic bill payments
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below).
- ATM transactions
- Everyday (one-time) debit card transactions
We pay overdrafts at our discretion which means we do not guarantee that we will always authorize and pay any type of transaction.
If we do not authorize and pay an overdraft, your transaction will be declined.
What fees will I be charged if Bank of Mount Hope pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of $33.00 for each time we pay an overdraft. You will not be charged for more than 4 items per day. There is no overdraft fee when your account is overdrawn by $10.00 or less at the end of our business day.
What if I want Bank of Mount Hope to authorize and pay overdrafts on my ATM and one time debit card transactions?
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 304-877-5551, print this form and present it at a branch or mail to P O Box 751, Mount Hope, WV 25880.
