Everybody makes mistakes now and then. But with overdraft protection, you can avoid the costly fees and hassle of overdrafts and returned checks. We offer several overdraft protection options for our customers:
Transfer - Have a savings account with us? You can easily authorize us to automatically transfer the funds needed to cover your overdraft from your savings to your checking. Transfers are only $3 each.
Line of Credit – You can apply for an overdraft line of credit. If approved, funds from the line would be transferred to your checking account to cover overdrafts. Any The Murray Bank lender can help you start an application and provide more information about this option. There is a $20 annual fee for an overdraft line of credit.
Hometown Protection – With Hometown Protection, overdrafts up to $300 will be paid if your account is in good standing, you make regular deposits, and you do not have overdrafts on a regular basis. This service is subject to eligibility requirements and items are paid at the bank’s discretion. You will be charged $30 for each overdraft.*
*Hometown Protection is a service we add to your checking account to cover inadvertent overdrafts, subject to eligibility requirements. With Hometown Protection we will generally pay your overdraft items up to $300; 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 $30) 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 the limit. All deposits to overdrawn accounts are applied to the negative balance.