Funds Transfer

Overdraft Privileges

Funds Availability

ACH Disclosure


Overdraft Privilege Disclosure

It is important for you to use your checking account responsibly and to never intentionally overdraw your account. However, we realize that financial shortfalls happen from time to time and we have several options available for you. As a benefit to our customers, we offer these useful services to cover you in the event that you overdraw your checking account.


TRANSFER FROM ANOTHER ACCOUNT - If you have other accounts with us, you can authorize us to transfer the funds needed to cover your overdraft. Contact any of our branches for applicable terms and conditions.

OVERDRAFT PRIVILEGE - Overdraft Privilege is a service we add to your checking account to cover inadventent overdrafts, subject to the eligibility criteria as explained below. With Overdraft Privilege we will generally pay your overdraft items up to $500, however, whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts. You will be charged our normal overdraft or return item fee currently $32.50, for each item that is presented. Both the amount of the overdraft items and all applicable fees, including but not limited to the overdraft fees, are included in this limit. All deposits to overdrawn accounts are applied to the negative balance.

ELIGIBILITY - No application is required for the ODP. Eligibility is based on the criteria below. All of the following criteria must be met before approval can be given:

  • Account must not be open for less than 30 days
  • The average balance must be $300.00 or above
  • No defaulted loans with the Bank of Harlan.
  • Have no outstanding balance on an OD repayment plan
  • Must be 18 years old or older


ODP may be suspended or permanently removed from the customer's account based on any of the following:

  • Account is not brought to a positive balance within 30 days of becoming overdrawn
  • Account type becomes ineligible
  • Defaults on current loan obligations with the Bank of Harlan
  • Incurs an outstanding balance on an Overdraft Repayment Plan
  • Account is being reviewed for fraudulent activity or transactions
  • Account is classified as inactive
  • Address becomes invalid
  • The Bank determines that the customer is not managing their account in a responsible manner which may harm them or the Bank

TRANSACTIONS ELIGIBLE FOR OVERDRAFT PRIVILEGE - Overdraft Privilege will be available for all checks written, in-person withdrawals, ACH transactions, preauthorized automatic transfer, internet banking and telephone banking. Overdraft Privilege will not be available for ATM and everyday debit card transactions unless you authorize the bank by completing an ATM/Debit Card Consent Form.

NOTE: If you have consented to Overdraft Privilege for ATM transactions,Please verify your balance before initiating an ATM cash withdrawal. All overdrafts will be subject to our $32.50 overdraft fee for each withdrawal until the account returns to a positive balance.

OVERDRAFT PRIVILEGE OPT OUT - If you do not want to have Overdraft Privilege, simply contact us and we will provide you an opt out form to remove this benefit from your account. It is important for you to consider that there is no additional cost for Overdraft Privilege and that opting out you are instructing us to return unpaid all items presented against insufficient funds. If you opt-out, you will still be charged our $32.50 returned item fee. Customer's who receive Social Security, federal direct deposit, or any other entitlement benefit must opt-out if they do not want the Bank to apply those funds to pay overdraft.

PAYMENT ORDER OF ITEMS - The order in which items are presented may affect the total fees assessed to your account. The first items that we pay are ATM withdrawals, debit card transaction, and any checks cashed by our employees or that you have written to us. We then pay any items that were submitted electronically, such as ACH items, preauthorized automatic transfers, telephone-initiated transfers and any other electronic transfers. Finally, we pay the remaining items based smallest to largest dollar amount.

NOTE: Please be aware that holds placed on your account for pending electronic transaction, such as hotel or rental car deposits, reduce your available balance and may cause your account to become overdrawn.

EXCESSIVE USE - We monitor consumer accounts for chronic or excessive use. If you overdraw your account more than six times in a rolling twelve month period you will be contacted to discuss alternatives and/or continued use of Overdraft Privilege.

FINANCIAL EDUCATION - The Bank belives that financial literacy and education helps consumers make informed decisions. Heightened awareness of personal financial responsibility helps consumers realize the benefits of responsible money management, understanding the credit process and the availability of help if problems occur. www.MyMoney.gov is the federal government's website that serves as the one-stop shop for financial literacy and education programs, grants and other information. To request a personal financial toolkit, call 1-888-MyMoney.

ACCOUNT AGREEMENT - Your account agreement describes the duties, obligations, and rights of depositors, authorized signatories and the Bank with regard to your deposit accounts. That account agreement is incorporated herein for all purposes as if it were set forth verbatim as to matters not directly addressed by this disclosure. Your account agreement and this disclosure shall be construed as to minimize conflicts between them.

WAVIER: The Bank’s forbearance from, or delay in, exercising any of the Bank’s rights, remedies, privileges, or right to insist on your strict performance of any provisions of your account agreement, this Overdraft Privilege Disclosure, or any other provision, related to your account, shall not be construed to be a current or future waiver of the Bank’s rights, remedies or privileges.

REMEDY: You and the Bank agree that the exclusive remedy and forum for all disputes arising out of the Overdraft Privilege or your or Bank’s performance there under, except for matters you or Bank take to small claims court, is arbitration by an independent arbitrator pursuant to the applicable rules of the American Arbitration Association, except as prohibited by law.

EFFECTIVE DATE – All information listed in this disclosure is effective as of October, 2015.

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