Overdraft Protection

OVERDRAFT PROTECTION

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 standard overdraft practices that come with your account.
  • We also offer overdraft protection plans, such as a link to your savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:

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

We do not authorize and pay overdrafts for the following types of transactions 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 First Basin pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30 each time we pay an overdraft
  • We will not charge you if you have an overdraft protection link that transfers funds from your savings account
  • There is no limit on the total fees we can charge you for overdrawing your account.

 

What if I want First Basin to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, you can call a service representative at 432-333-5600, you can log onto Online Banking and go to Other Options, Overdraft Protection, you can fill out the form received in your monthly statement and present it to any branch location, or mail it to FBCU, 2740 N County Rd W, Odessa, TX 79764. You may also visit any branch location for more information or to make your choice.