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Overdraft Protection

LIMITATIONS: Overdraft Privilege is a non-contractual courtesy that is available to individually/jointly owned accounts in good standing for personal or household use. First Jackson Bank reserves the right to limit participation to one account per household and to discontinue this service without prior notice.

At times, unanticipated expenses or unforeseen problems can leave you with too little cash in your checking account. Having a check returned due to insufficient funds can be a costly, inconvenient, and potentially embarrassing experience.

First Jackson Bank does not encourage overdrafts and we encourage you to manage your finances responsibly. However we want to save you from the additional merchant fees and possible damage to your credit history that might result if a check is returned. That's why we provide Overdraft Privilege, a special overdraft service for First Jackson Bank checking customers.

First Jackson Bank protects you from overdrafting your account with an Overdraft Privilege. The Overdraft Privilege is a service requiring no action on your part. You don't have to sign anything. Your Overdraft Privilege will automatically be assigned when you open an account.

How does Overdraft Privilege work?*
As long as you maintain your account in good standing, First Jackson Bank may approve your overdrafts within your current available Overdraft Privilege limit. Whether your overdraft will be paid is discretionary and we reserve the right not to pay. for example, we typically do not pay overdrafts if your account is not in good standing. Your account is in good standing if you (1) demonstrate responsible account management - such as making regular deposits to bring your account to a positive balance at least once every 30 days (including the payment of all bank fees and charges); (2) avoid excessive overdrafts suggesting the use of Overdraft Privilege as a continuing line of credit, and (3) there are no legal orders, levies or liens against your account. Please note that the amount of the overdraft plus our standard NSF fee of $30 for each item will be deducted from your overdraft limit. No interest will be charged on the overdraft balance.

*Please refer to the customer policy for additional details.

How do I know when I use the overdraft limit?

You will receive an overdraft notice in the mail each time items are paid. The notice will show the check number, amount and the NSF fee. You will need to subtract the total fees when balancing your checkbook.

What is my Overdraft Privilege limit? If I have two checking accounts, can I get Overdraft Privilege on both?

Your Overdraft Privilege limit is $400. If you have multiple accounts for your household, you may have a limit on all eligible accounts.

What if I go beyond my Overdraft Privilege limit?

Overdrafts above and beyond your established Overdraft Privilege limit may result in a check or checks being returned to the payee. The standard NSF fee will be charged per item and assessed to your account. An NSF notice will be sent to notify you of our actions.

How quickly must I repay my Overdraft Privilege?

You should make every attempt to bring your account to a positive balance as soon as possible, and must do so within 30 days. If you are not able to bring your account to a positive balance within 30 days you will receive a letter from First Jackson Bank informing you of the situation and your options. If, thereafter, your account has not been brought to a positive balance, we may suspend your account and take other steps to recover the funds.

What does my Overdraft Privilege cost?

There is no additional cost associated with this privilege unless you use it. You will be charged our standard NSF fee of $30 for each overdrawn item created by check or through in-person withdrawals. (For example, three paid items in one day will result in $90 in NSF fees.) To help you manage your account, the total fees you have paid for NSF items (both paid and returned) during the current month and for the year-to-date, will be reflected on your monthly checking statement.

What are some of the ways I can access my Overdraft Privilege limit? Will my limit be reflected in the balance I receive?

The chart below shows the different ways you can access your Overdraft Privilege limit and indicates whether or not this limit will be reflected in the balance provided.

ACCESS POINTS IS MY OVERDRAFT PRIVILEGE LIMIT AVAILABLE? DOES THS BALANCE PROVIDED REFLECT MY OVERDRAFT PRIVILEGE LIMIT?
Teller Yes Yes
Writing A Check Yes -NA-
Debit Card No -NA-
ATM Withdrawal No No
ACH-Auto Debit Yes -NA-
NetTeller Yes Yes
Voice Response Yes No
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