Overdraft FAQs

What is an overdraft?

An overdraft occurs when you do not have enough money in your account to cover a transaction.

Will AllSouth authorize and pay transactions presented if I don't have enough money in my account?

If you have funds in your savings or personal line of credit and have authorized AllSouth to consider those funds as part of your available balance in your checking account, there would be a nominal charge for the transfer of funds.

Or

If you have been enrolled in our Overdraft Privilege Program which allows your account to be overdrawn for up to 45 days up to a specified limit, we may consider authorizing and paying certain items.

AllSouth will consider authorizing and paying overdrafts for the following types of transactions:

  • Checks and withdrawals made using your checking account number
  • Automatic bill payments
  • Everyday ATM/debit card transactions (if you have asked us to do so)

What is an everyday or one time ATM/debit card transaction?

An everyday or one time debit card transaction is a single authorized, non-recurring purchase or payment made with your card.  Examples of this include purchasing gas, groceries, or restaurant purchases.

What will happen if I don't ask AllSouth to consider paying everyday ATM/debit card transactions even if I am enrolled in the Overdraft Privilege Program?

Beginning August 15, 2010, if you have not authorized AllSouth to consider authorizing this type of transaction, the transaction will be declined if you do not have sufficient funds in your account and/or available overdraft protection from other accounts and you will not be able to complete your card transaction.

How can I avoid overdraft fees?

The best way to avoid overdraft fees is to closely monitor your account and keep accurate records of your transactions.  You can do this by keeping a check register and listing all transactions to include deposits, withdrawals, checks written, ATM and debit card transactions.

AllSouth also provides a variety of free resources to help you monitor your spending including Online Banking, Mobile Banking, and Respond 24 Telephone Teller.

 

Locations & Hours|Contact Us|Privacy Policy|Site Map
Equal Housing LenderNational Credit Union Administration
NCUA - Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government agency. Equal Housing Lender - We do business in accordance with the Fair Housing Law and Equal Opportunity Credit Act