Additional Terms Disclosure - What you need to know about overdrafts

We use a standard overdraft process called Courtesy Pay to determine transactions we will strive to pay if they exceed account balances. Courtesy Pay authorizes checks, automatic bill payments, recurring debit card payments or other transactions using your checking account number. We offer an additional overdraft program called Courtesy Pay Plus that allows you to authorize us to strive to pay ATM transactions and everyday debit card transactions as well. We also offer overdraft protection plans which include overdraft line of credits and setting up automatic transfers from your other account with available balances. These options may be less expensive than our standard overdraft practices.

An overdraft occurs when your current balance in your account is not sufficient to cover a transaction that you authorized but we allow the transaction to be processed. This results in a negative balance or overdrawn account. Your current balance, otherwise known as ledger balance, is the balance in your account at the close of the current business day. The current balance does not include outstanding transactions still outstanding such as checks that have not yet cleared or electronic transactions that have been authorized with a future effective date.

 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.

If a transaction is authorized and paid on your behalf by us, we will charge our standard $32.00 Overdraft Fee each time we pay an overdraft. On consumer accounts, we limit the number of Overdraft Fees that can be accumulated in a day to six (6). This limits maximum Overdraft Fees to $192.00 per day. This limit is not applicable for Simple Business and Business Analysis Checking accounts.

If you would like to change your Courtesy Pay Plus election at any time, please contact us at 1–866–210–0460 or update your election at YourFriendlyBank.com/RegE. For more information on our overdraft protections plans please contact your local branch or call 1-866-210-0460.

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