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 ways:

  • We have Bounce Protection that comes with your account (WAC).
  • We also offer Sweep or Dynamic Transfer which is a link to a savings, checking or money market account and is considered to be a less expensive option to Bounce Protection.

This notice explains our Bounce Protection practices.

What are the standard bounce protection practices that come with my account effective August 15, 2010?
With Approved Credit, we will authorize and pay overdrafts for the following types of transactions up to a preapproved limit:


  • Checks and other transactions made using your checking account number
  • Automatic bill payments

We will not authorize and pay overdrafts for the following types of transaction 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 Exchange Bank pays my overdrafts?


  • We will charge you a fee of up to $25 each time we pay an overdraft.
  • There is no limit on the total fees we can charge you for overdrawing your account.

How to Opt-In

Click here to send an email to "Opt-In" with the following information:

  • The name on the account
  • The last three digits of the account number.

NOTE: For joint accounts, consent from only ONE account owner is necessary.

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