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Overdraft Privilege Learning Center
0verdraft Privilege
It's important to keep your checking account in good standing - but even the most careful number crunchers need a hand at times. Overdraft Privilege can save you money, time, and the embarrassment that comes with high merchant fees due to insufficient funds in your account. This service is available on any eligible Sunmark checking accounts, and you are only charged if you use it.
When you pay for an item with a check or your debit card, and the funds are not available in your checking account or your overdraft protection sources (such as Funds Transfer or Overdraft Line of Credit), Sunmark will honor the transaction(s) you make through the Overdraft Privilege program.*
Sunmark will mail you a notice informing you that your account has been brought to a negative balance in order to pay the items. You must bring your account to a positive balance within 30 days of when the first overdraft is paid.
What accounts are eligible to use Overdraft Privilege?
Your checking account is eligible for Overdraft Privilege if your loans
are less than 30 days delinquent and if your checking account has not
been negative for 30 days or more. It's easy to sign up. If your account meets those conditions, Overdraft Privilege is
already a benefit you can use. Accounts in only a minor's name are not
eligible for Overdraft Privilege until the owner is 18 years old.
When is Overdraft Privilege available?
In addition to your check writing, Overdraft Privilege is available on
ATM withdrawals from your checking account, Electronic Funds Transfers
(ACH - automated clearing house payments) from your checking, and
Point-of-Sale (POS) transactions using your ATM/VISA® Check (Debit)
Card; subject to your overdraft privilege limit.* Overdraft Privilege
is not available on savings accounts.
Is there a fee for Overdraft Privilege?
There is a $30 fee for each paid overdraft. There is no limit to the
total number of fees we will charge for this service.
*The Overdraft Privilege limit is $800 on individual checking accounts and $1,000 on business checking accounts for eligible accounts. This limit includes any fees you incur by using this service.
What do I have to do?
To take advantage of this great service, call 866-SUNMARK, click here or visit any branch to opt in.
