Monday, 19 December 2011 00:00
Information You Need to Know About Courtesy Overdraft
Courtesy overdraft is a service that may allow an everyday ATM Check Card transaction to be approved at our discretion, even if you don’t have enough money in your account to cover the transaction amount. Many of our customers enjoy having the convenience of this service. To approve your everyday ATM Check Card overdraft transactions, we must get your authorization.
Click here to enroll today.
Questions and Answers
What is an overdraft? An overdraft occurs when you do not have enough money in your account to cover a transaction.
What is Courtesy Overdraft? Courtesy overdraft is a service that may allow an everyday ATM Check Card transaction, like getting gas or buying a cup of coffee, to be approved at the bank’s discretion - even if you don’t have enough money in your account to cover the debit amount. How do I request this service?
Click here to enroll today.
What are the advantages of this service? Many customers find this service very convenient since every day debit card transactions may be approved even when you don’t have enough money in your account. You may also be able to make purchases if you have a pending deposit that won’t post until later in the day. Additionally, customers like having the security and peace of mind to know that if they have an unexpected emergency expense, they may be able to use their debit card for emergency transactions.
Most customers might never use this service, but they like to know they have it. It’s especially appealing since there is no fee to keeping the service.
Does this service cost anything? There is no fee to have this service and you will only be charged an overdraft fee if your account is overdrawn. What fees will I be charged if I use the courtesy overdraft service? We will only charge you if you use the courtesy overdraft service – meaning that you have a debit card transaction that we approve which causes your account to be overdrawn. The fee is $35 for each overdraft.
If your account is overdrawn after 8 calendar days, we may also charge you an additional $5 per day for each day that your account remains overdrawn. If I have this service, does that mean that all of my debit card transactions will be approved? Not necessarily – reasonable transactions and overdrafts are paid at our discretion. This service is based on your account status, deposits and spending history. For example, we typically do not pay overdrafts if your account is not in good standing or if you have too many overdrafts. We may refuse to pay an overdraft for you at any time, even though your account is in good standing and even though we may have previously paid overdrafts for you. We have no obligation to notify you before we pay or return any item. What if I decide that I don’t want this service? You have the right to revoke your authorization to participate in the overdraft service at any time. Simply call 1-800-848-1088 or call your local branch. Where can I get more information? Click here to read about Westamerica’s standard overdraft practices.
Courtesy Overdraft coverage is not an actual or implied agreement between you and the bank. This service represents a purely discretionary courtesy that the bank may provide to you from time-to-time and which may be withdrawn or withheld by the bank at any time without prior notice, reason or cause.
(date rev. 4/12)