Q. What is Overdraft Courtesy?
A. Overdraft Courtesy is a service that we offer for times when you may inadvertently overdraw your account. We will have the discretion to pay the overdraft, subject to the limit of your Overdraft Courtesy and the amount of the overdraft fee. Overdraft Courtesy is not a line of credit. Read the Discretionary Overdraft Courtesy Disclosure for more details.
Q. What is the amount of Overdraft Courtesy on my account, if applicable?
A. The Courtesy for consumer checking accounts will generally be limited to a maximum $700 overdraft (negative) balance. This Courtesy for commercial accounts will generally be limited to a maximum $1,000 overdraft (negative) balance.
Q. Do overdraft fees count against the Overdraft Courtesy amount above?
A. Yes, 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 Courtesy amount as a result of the assessment of a fee.
Q. If I Opt-In to Overdraft Courtesy for everyday Debit Card and ATM transactions, will my transactions always be paid?
A. Payment of an overdraft is at our discretion, and the amount of Overdraft Courtesy we may extend is based on your account history. We reserve the right not to pay an overdraft; for example, if the account is not in good standing, if deposits are not being made regularly, or if there have been excessive overdrafts.
Q. What is an everyday debit card transaction?
A. It’s a one-time, non-recurring purchase. It is not a recurring payment that you’ve set up to charge automatically to your debit card, such as a monthly payment for a gym membership.
Q. Are there fees for Overdraft Courtesy?
A. There is no cost to keep Overdraft Courtesy in place on your account as a safety net. If you use the protection and we advance funds to cover your transaction, our standard overdraft item fee of $38 will be charged to your account.
Q. Can I be charged more than one overdraft fee per day?
A. Yes, you will be charged an overdraft fee for each item that creates an overdraft on your account. For example, if you have an available balance of $20, and you have three items presented to your account on the same day for $30 each, you will be charged three overdraft fees.
Q. Is there a limit on the number of overdraft fees I may be charged in one day?
A. Yes, for consumer accounts there is a daily limit of 6 overdraft fees per day we can charge you for overdrawing your account. There is no daily limit for business accounts.
Q. How does the bank’s check clearing policy impact overdraft fees?
A. Transactions may not be processed in the order in which they occurred, and the order in which transactions are received and processed may impact the total amount of fees incurred.
Q. When do I need to repay an overdraft?
A. An overdraft should be repaid promptly, but you must bring your account to a positive balance within thirty (30) days for a minimum of 24 hours.
Q. If I don’t Opt-In to Overdraft Courtesy for everyday Debit Card and ATM transactions will you continue to approve other transactions?
A. Opting-In pertains to everyday debit card and ATM transactions covered by a bank’s standard overdraft practices such as Overdraft Courtesy. If you do not Opt-In, we may continue to extend Overdraft Courtesy to cover your checks, transfers and recurring payments.
Q. What if I Opt-In to Overdraft Courtesy for everyday Debit Card and ATM transactions now and change my mind later?
A. You can always change your mind and revoke your Opt-In at any time at your branch, by calling 1-888-238-3330, or by visiting www.vistbank.com/revoke or by printing and mailing the completed revocation form to
PO Box 460
Ithaca, NY 14851
Q. We have a joint account and we each have debit cards. Do we both need to Opt-In to Overdraft Courtesy for everyday Debit Card and ATM transactions ?
A. No, either one of you can Opt-In to give authorization for the joint account and either of you can revoke the Opt-In for the account at a later time. We will use the most recent instructions on file.
Q. I have more than one checking account. Does my Opt-In to Overdraft Courtesy for everyday Debit Card and ATM transactions cover all my accounts?
A. No, the regulation requires that an Opt-In be on file for each account.
Q. Do I need to Opt-In to Overdraft Courtesy if I have Savings Overdraft Protection or an Overdraft Line of Credit?
A. Overdraft Courtesy may supplement your overdraft protection services:
Both Savings Overdraft Protection and an Overdraft Line of Credit are overdraft protection services to prevent overdrafts. When there aren’t enough funds available in your checking account to cover a transaction, funds are transferred from your savings account or credit line to prevent an overdraft, and there is a $5 transfer fee per transfer. If you Opt-In and there aren’t enough funds in your savings account or Overdraft Line of Credit to cover the transaction, we may, at our discretion, extend Overdraft Courtesy to pay it, and our standard $38 overdraft fee per item would be charged. If we don’t have your Opt-In on file, we will no longer be able to extend Overdraft Courtesy to approve an everyday debit card or ATM transaction when you don’t have enough funds available in checking, Savings Overdraft Protection, or an Overdraft Line of Credit to cover it. Regretfully, your transaction will be declined.
Q. What other overdraft protection services do you offer?
A. We offer two overdraft protection plan alternatives for checking accounts. The first is an Overdraft Protection Line of Credit – funds are transferred from your available credit line to prevent an overdraft in checking (requires credit approval). The second is Savings Overdraft Protection – funds are transferred from your linked savings account to prevent an overdraft in checking. Transfer fees apply for both services.
Ask for details.
IMPORTANT TERMS AND CONDITIONS FOR OVERDRAFT COURTESY
An overdraft item fee of $38 is charged each time we cover an overdraft that results in a negative end-of-day available balance.
Overdrafts may be created by check, recurring payment, transfer, withdrawal, Debit or ATM Bankcard transaction, or other electronic means.
Once an overdraft has occurred, you must bring your account to a positive balance within thirty (30) days for a minimum of 24 hours.
Whether your overdraft will be paid is at VIST Bank’s discretion, and we reserve the right not to pay. For example, we typically do not pay overdrafts if:
- You do not bring your account to a positive balance within every thirty (30) day period for a minimum of 24 hours
- You are in default on any loan or other obligation to VIST Bank
- You are subject to any legal or administrative order or levy
- Your use of the Overdraft Courtesy has been excessive or abusive