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It is Gladewater National Bank’s policy to comply with applicable laws and regulations, and to conduct business in accordance with strict safety and soundness standards. A non-sufficient funds (overdraft/negative balance) may result from: (a) The payment of checks, electronic funds transfers, or other withdrawal requests you initiate; (b) Payments authorized by you; (c) The return, unpaid, of items deposited by you; (d) Charging your account for our applicable service charges and fees; and (e) The deposit of items to your account which, according to our Funds Availability Policy, are treated as not yet "available" or "finally paid."
OverdraftPRIVILEGE is available to accounts in good standing. If your account has been open for at least thirty (30) days, and thereafter you maintain your account in good standing which includes at least: (a) making regular deposits consistent with your practices; (b) depositing an amount equal to your overdraft amount or more into your account within each thirty day period ; (c) you are not in default on any loan obligation to Gladewater National Bank ; and (d) you are not subject to any legal or administrative order or levy, the bank will consider, as a discretionary courtesy and not a right or obligation, approving your reasonable overdrafts up to your pre-approved OverdraftPRIVILEGE limit. Of course, any and all bank fees and charges, including without limitation, the insufficient fund/overdraft fees (as set forth in our fee schedules and our depositor’s account agreement) will be included in this limit. What is OverdraftPRIVILEGE? OverdraftPRIVILEGE is a special feature for your checking account. The bank will honor drafts, in most cases, to the amount approved by the bank.
OverdraftPRIVILEGE will save you time, embarrassment and money when you make a mistake in maintaining you account balance or experience and unexpected emergency. Plus you don’t have to pay merchant and retailer fees for returned checks!
OverdraftPRIVILEGE works for you when you need it. It’s so easy! When you write a check and you’re short … OverdraftPRIVILEGE kicks in and allows up to $ 500 for qualifying accounts. Checks are automatically paid up to your OverdraftPRIVLEGE limit, saving you from any additional fees from the merchant.
No, this feature is one of the services provide by the bank.
OverdraftPRIVILEGE is automatically activated, after your account has been opened a minimum of 30 days, provided you make regular monthly deposits and your account is in good standing.
If you exceed your OverdraftPRIVILEGE limit, checks may be returned when presented for payment.
No, BUT, your account will be charged the bank’s standard insufficient and overdraft item fees as outlined in the service and fees disclosure.
You will be mailed a notice. Reminder letters will be sent until your balance is positive.
You have 30 days to bring your account to a positive balance. After that, your OverdraftPRIVILEGE may be suspended or revoked.
Your existing overdraft protection accounts will be assessed before
OverdraftPRIVILEGE kicks in. If all other overdraft protection
accounts are fully drawn, OverdraftPRIVILEGE will cover your
drafts, in most cases, to the amount approved by the bank.
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