| What is Overdraft Privilege? |
| Overdraft Privilege is a service that will provide you a safety net for unexpected incidents or for emergencies when the funds in your checking account are not adequate to cover transactions. Overdraft Privilege is an overdraft service requiring no action on your part. You don't have to sign anything. Your Overdraft Privilege limit amount will be automatically assigned. |
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| How does Overdraft Privilege work?* |
As long as you maintain your account in good standing, Alpine Bank may approve your overdrafts within your current available Overdraft Privilege limit. Whether your overdraft 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. Your account is in good standing if you (1) demonstrate responsible account management—such as making regular deposits to bring your account to a positive balance at least once every 30 days (including the payment of all bank fees and charges) and (2) there are no legal orders, levies or liens against your account. Please note that the amount of the overdraft plus our standard non-sufficient funds (NSF) fee of $40 for each item will be deducted from your overdraft limit. We no longer charge a daily overdraft fee of $5.00 per day and no interest will be charged on the overdraft balance.
*Please refer to the customer policy for additional details.
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| How do I know when I use the overdraft limit? |
| You will receive an overdraft notice in the mail each time items are paid. The notice will show the check number, amount and the NSF fee. You will need to subtract the total fees when balancing your checkbook. |
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| What is my Overdraft Privilege limit? I have two checking accounts. Can I get Overdraft Privilege on both? |
Locate your account type below and make note of the corresponding limit. If you have multiple accounts for your household, you may have a limit on all eligible accounts.
| Dollar Saver |
$ |
500 |
| Preferred Checking |
$ |
1,000 |
| Premium Checking |
$ |
1,000 |
| High Yield Checking |
$ |
1,000 |
| Personal Checking |
$ |
1,000 |
| Pioneer Club Checking |
$ |
1,000 |
| Business Checking |
$ |
1,000 |
| Interest Bearing Business Checking |
$ |
1,000 |
| Money Fund |
$ |
1,000 |
| Money Market Plus |
$ |
1,000 |
| Investors Choice Money Market |
$ |
1,000 |
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| What if I go beyond my Overdraft Privilege limit? |
| Overdrafts above and beyond your established Overdraft Privilege limit may result in a check or checks being returned to the payee. The standard NSF fee will be charged per item and assessed to your account. An NSF notice will be sent to notify you of our actions. |
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| How quickly must I repay my Overdraft Privilege? |
| You should make every attempt to bring your account to a positive balance as soon as possible, and must do so within 30 days. If you are not able to bring your account to a positive balance within 30 days you will receive a letter from Alpine Bank informing you of the situation and your options. If, thereafter your account has not been brought to a positive balance, we may suspend your account and take other steps to recover the funds. |
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| What does my Overdraft Privilege cost? |
There is no additional cost associated with this privilege unless you use it. You will be charged our standard NSF fee of $40 for each item created by check or through in-person withdrawals, ATM withdrawals or other electronic means paid under the limit. (For example, three paid items in one day will result in $120 in NSF fees.) To help you manage your account, the total fees you have paid for NSF items (both paid and returned) during the current month and for the year-to-date, will be reflected on your monthly checking statement in accordance with Federal regulations.
Alpine Bank will no longer charge a daily overdraft fee of $5. |
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| What are some of the ways I can access my Overdraft Privilege limit? Will my limit be reflected in the balance I receive? |
The chart below shows the different ways you can access your Overdraft Privilege limit and indicates whether or not this limit will be reflected in the balance provided.
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Access Points
|
Is My
Overdraft
Privilege Limit
Available?
|
Does The Balance
Provided Reflect
My Overdraft
Privilege Limit?
|
| Teller |
Yes
|
No
|
| Writing a Check |
Yes
|
-NA-
|
| Debit Card |
Yes
|
-NA-
|
| ATM Withdrawal |
Yes
|
No
|
| ACH-Auto Debit |
Yes
|
-NA-
|
| Alpine Online |
No
|
No
|
| Alpine Info-Line |
Yes
|
No
|
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| How soon can I use my Overdraft Privilege? |
| If you are a new account holder, you may be able to use the overdraft privilege service immediately after the account is opened, assuming you demonstrate responsible account management by making regular deposits to maintain your account with a positive balance, and there are no legal orders, levies or liens against your account. |
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| What are some other ways I can cover overdrafts at Alpine Bank? |
The best way to avoid overdrafts and NSF fees is to manage your account so you don’t overdraw it.
However, if a mistake occurs, Alpine Bank offers other solutions to cover overdrafts in addition to Overdraft Privilege. Please contact your nearest location to inquire about these additional options:- Ready Reserve Line of Credit
- Transfer of funds from your other Alpine Bank accounts
- Transfer of funds from your Alpine Bank Home Equity Line of Credit
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| What if I do not want to have Overdraft Privilege on my checking account? |
| Overdraft Privilege costs you nothing unless you use it. However, if you would like to have this service removed from your account, please contact your local Alpine Bank, call 1-888-4ALPINE (1-888-425-7463), or complete our online opt-out form. |
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