Help Center: CARDS
What You Need to Know About Overdrafts and Overdraft Protection
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 different ways:
- We have standard overdraft practices (Courtesy Overdraft protection*) that are standard with your checking account.
- We also offer overdraft protection plans, such as a pre-approved line of credit or a link to a 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 (Courtesy Overdraft) 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 Bank Midwest pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $33 each time we pay an overdraft.
- There is a limit of six fees per day we can charge you for overdrawing your account.
What if I want Bank Midwest 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, call or stop by any of our locations or complete the opt-in form online and agree to electronic consent.