First Liberty National Bank has several plans to help with possible overdraft situations you may encounter. Check out the method that best suits your need!
Money can be transferred from a related account to prevent an overdraft and the related insufficient service charge. The cost of this service is $2.00 per daily transfer. If your related deposit account is an interest bearing account, you may make no more that six (6) preauthorized withdrawals, automatic or telephone transfers, checks, drafts, debit cards or other similar transactions from your account per month or statement cycle.
Money can be transferred from a pre-arranged personal line of credit (loan) to prevent an overdraft and the related insufficient service charge. There is no charge for the FLNB Overdraft Loan Account until you use it. There is no cost for the transfer of funds; however, the line of credit (loan) will accrue interest per the terms of the loan. You pay interest only on the exact amount you use. Payments are automatically deducted from your checking account each month or you may repay by check the full amount outstanding. If the installment (automatic payment) method is used, the amount of monthly payment will be 5% of the unpaid balance or a minimum of $25.00, whichever is greater.
The Line of Credit is subject to credit approval.
If you inadvertently overdraw your account, First Liberty National Bank will have the discretion to pay the overdraft, subject to the limit of your overdraft privilege and the amount of the overdraft fee. This payment by the bank is a discretionary courtesy and not a right of the accountholder or an obligation of First Liberty National Bank. This privilege for consumer checking accounts will generally be limited to a maximum of $500 overdraft (negative) balance and for commercial accounts will generally be limited to a maximum of $750 overdraft (negative) balance. Any and all fees and charges, including without limitation the non-sufficient funds fees (as set forth in our fee schedules and deposit account agreement and disclosure), will be included as part of this maximum amount. It may be possible that your account will become overdrawn in excess of the overdraft privilege amount as a result of the assessment of a fee.
Please read our Discretionary Overdraft Privilege Policy for further explanation of the product.