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 as a courtesy we pay it.

We can cover your overdrafts in two different ways:

  • We have standard overdraft practices that come with your account.
  • We also offer courtesy transfer service which links your checking account to a secondary account, such as a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about this service.

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

  • We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.
  • We do authorize and pay overdrafts for the following types of transactions:
    • Checks and other transactions made using your checking or money market account number
    • Automatic bill payments
  • We will not authorize and pay overdrafts for the following types of transactions unless you "opt in" (see below):
    • ATM transactions
    • Everyday debit card transactions

If you do not "opt in" for us to pay an overdraft through your debit card, your transaction will be declined.

What fees will I be charged if Maple City Savings Bank pays my overdraft?

Under our standard overdraft practices:

  • An overdraft fee of $35.00 will apply to any transaction that overdraws your account including, but not limited to, payments authorized by Check, ACH/Electronic Items and, if you have "opted-in", ATM withdrawals/Debit Card purchases.
  • There is a 5 per day limit on the total number of insufficient funds fees we will charge you for overdrawing your account.
  • Once an overdraft has occurred, you are obligated to bring your account to a positive balance within 14 calendar days.
  • Whether your overdraft will be paid is at the discretion of Maple City Savings Bank, and we reserve the right not to pay. Typically we do not pay overdrafts if your account is not in good standing, you are not making regular deposits or you have had excessive overdrafts.
  • Maple City Savings Bank Overdraft Privilege is different from Courtesy Transfer in that it does not transfer money from a secondary account.
  • There are monetary limits set per account type for the amount of Overdraft Privilege permitted.

What if I want Maple City Savings Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions complete this form (PDF) or call 607-324-1822, or visit us at 145 Main Street, Hornell, NY.