Overdraft Protection
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An overdraft occurs when you don't have enough money in your account to pay for a transaction but we pay it anyway. For a fee, Firstrust may in its discretion, pay a transaction that overdraw your account. This fee applies each time you overdraft your account.

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Standard overdraft practices

  • Covers your transaction for a flat fee of $36 per item each time you overdraw your eligible account.
  • There is a five item daily limit on the total fees we can charge you for overdrawing your account.

Overdraft Protection plans

  • Covers overdraft through a link to your line of credit or savings account.
  • Firstrust typically charges a fee each time you overdraw your account, but these Overdraft Protection plans may be less expensive than standard overdraft practices.

The new rules for consumer accounts

  • It’s your choice.

    In the past, some banks automatically applied their standard overdraft practice to accounts for all types of transactions that covered checks, in-branch withdrawals, ACH transactions, automatic payments, ATM withdrawals and purchases using a debit card. Under the new rules for consumer accounts, Firstrust must receive your consent (opt in) to authorize and pay overdrafts for everyday debit card and ATM transactions before you can be charged overdraft fees.

  • Existing accounts.

    If you do not opt in, Firstrust’s standard overdraft practices will not apply to your everyday debit card and ATM transactions. If you do not opt in to authorize payment of ATM and everyday debit card transactions that would overdraw your account, these transactions will be declined.

  • New accounts.

    If you open a new account on or after July 1, 2010, Firstrust will not authorize and pay overdrafts for everyday debit card and ATM transactions unless you opt in.

  • Flexibility.

    Whatever your decision, the new overdraft rules give you flexibility. If you opt in, you can cancel at any time. If you do not opt in, you can do so later.

  • Checks and automatic bill payments.

    The new rules do not apply to checks, in-person withdrawals, ACH transactions or automatic bill payments that you may have set up for paying recurring bills such as your mortgage, rent, or utilities. Firstrust may still automatically apply its standard overdraft practices to your eligible account for these types of transactions. If you do not want standard overdraft practices in these instances, talk to a Banking Specialist about your ability to decline these services.

Disclosures

*The $36 overdraft fee applies to overdrafts resulting from checks, in-person withdrawals, ATM withdrawals and other electronic means. You must bring your account balance to a positive balance as soon as possible after each overdraft. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we do not pay overdrafts if your account is not in good standing, you are not making regular deposits, you have too many overdrafts, you are in default on any loan or other obligation to Firstrust or your account is subject to a legal order or levy.

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