Overdraft Protection

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 it 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 another checking or savings account which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans. 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 and 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 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 Peoples Bank & Trust Company pays my overdraft?

Under our standard overdraft practices:

We charge you a fee of $30 per item paid on overdraft. There is a limit of five (5) fees per day ($150) on the total fees we can charge you for overdrawing your account.

If you also would like to learn more about our Overdraft Protection program (606) 436-2161