Overdraft Privilege

Here's what you need to know about overdrafts for ATM/everyday debit card transactions

An overdraft occurs when you do not have enough money¹ in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

1. We follow standard overdraft practices when processing overdraft occurrences for all accounts as part of our Overdraft Privilege Service.
2. We also offer overdraft protection plans, such as a link to a savings account or line of credit, which may be less expensive than our standard Overdraft Privilege Service. To learn more, ask us about these plans.

We may authorize and pay overdrafts for the following types of transactions as part of our Overdraft Privilege Service:

• Checks and other one-time automated transfers made using your checking account number.
• Automated and pre-authorized recurring bill payments.
• Recurring debit card transactions, such as subscriptions or gym memberships.

We may not authorize and pay overdrafts for the following types of transactions unless you opt-in (see below):

• ATM cash withdrawals and similar payment transactions at a terminal.
• Everyday debit card transactions, such as groceries, gasoline purchases, or dining out, and shared ride services.

However, 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 ATM or everyday debit card transactions will be declined.

Applying our standard overdraft practices under our Overdraft Privilege Service:

• We will charge you a fee of $39.50 each time we pay an overdraft that overdraws your account by more than $10.
• The maximum number of fees assessed on paid overdraft items is limited to six per day.
• A $5 daily fee will be charged starting three business days after the account is first overdrawn.

• You can call our Bank by Phone service at (833) 716-5600 or you can visit one of our branches to "Opt-In" and extend our Overdraft Privilege Service to ATM and everyday debit card transactions.
• You may also revoke this extension at any time by visiting a First American Bank branch or by calling our Bank by Phone service at (833) 716-5600.

• Online and Mobile Banking – Check your account balance, transfer funds, locate First American Bank branches and ATMs, and more 24 hours a day, 7 days a week.
• Account Alerts – Set alerts in Online and Mobile Banking to get notified if you’ve reached your specific balance limit.
• Bank-by-Phone – Call (833) 716-5600 to check your balance, verify your ATM withdrawals, and more.