Overdraft Protection

A Special Service for Checking

At times, unanticipated expenses or unforeseen problems can leave you with too little cash in your checking account. Having a check returned due to insufficient funds can be a costly, inconvenient and potentially embarrassing experience.

At Alpine Bank, we do not encourage overdrafts. As always, we encourage you to manage your finances responsibly. However, we want to save you from the additional merchant fees and possible damage to your credit history that might result if a check is returned.

That's why we provide Overdraft Privilege, a special overdraft service for Alpine Bank's checking customers.

What is Overdraft Privilege?

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.

Your Overdraft Privilege limit may be available for checks and other transactions made using your checking account number or automatic bill payment and recurring debit card payment. Also, at your request, we may authorize and pay ATM transfers or withdrawals and everyday debit card purchases using your limit.[3]

How does Overdraft Privilege work?[1]

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 demonstrate responsible account management - such as (1) making regular deposits to bring your account to a positive balance at least once every 30 calendar days (including the payment of all bank fees and charges) and (2) there are no legal orders, garnishments, levies or liens against your account. In addition, based upon our review of your account management, if we determine you may be using Overdraft Privilege as a regular line of credit by creating excessive overdrafts, we may suspend the privilege without any prior notice. Please note that the amount of the overdraft plus our standard non-sufficient funds(NSF) paid item[2] for each item will be deducted from your overdraft limit. No interest will be charged on the overdraft balance.

How do I know when I use the overdraft limit?

You will receive an overdraft notice each time items are paid, including fees. You will need to subtract the total fees when balancing your checkbook.

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, it may be possible to have a limit on each eligible account[1].

Liberty Checking $600.00
ACCESS PLUS Checking $1,200.00
Elite Checking $1,200.00
Golden Edge Checking $1,200.00
Dollar Saver Checking $600.00
Triple-E Checking $600.00
Premium Checking $1,200.00
Alpine High Yield Checking $1,200.00
Preferred Checking $1,200.00
Personal Checking $1,200.00
Pioneer Club Checking $1,200.00
Business Checking $1,200.00
Business Checking with Interest $1,200.00
Saver's Choice Money Market $1,200.00
Investor's Choice Money Market $1,200.00
Phoenix Checking $100.00

What if I go beyond my Overdraft Privilege limit?

Overdrafts above and beyond your established Overdraft Privilege limit may result in checks or other items being returned to the payee. The standard NSF fee[2] will be charged per item (paid/returned) and assessed to your account. An NSF notice will be sent to the most current address we have on file, notifying you of our action(s).

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. However, in order to avoid the possible suspension of your Overdraft Privilege, you must bring your account to a positive end-of-day balance, for at least 1 business day, once every 30 calendar days. If you bring your account to a positive end-of-day balance within this time, your limit may be made available again the first business day after the positive balance. If you are not able to bring your account to a positive balance within 30 calendar days after the creation of the overdraft, 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 Overdraft Privilege and additional items may be returned.

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 paid item fee[2] for each NSF item paid that was by check or through in-person withdrawals, an automatic payment (ACH transaction), or a recurring debit card payment. Also, if you have requested us to do so, we may authorize and cover ATM transfers or withdrawals and everyday debit card purchases[3]. 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.

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.

Access Points Is My Overdraft Privilege Limit Available? Does The Balance Provided Reflect My Overdraft Privilege Limit?
Standard Overdraft Privilege
Teller Yes No
Writing a Check Yes N/A
Debit Card (recurring) Yes N/A
ACH Auto Debit Yes N/A
Alpine Online Yes No
Alpine Info-Line Yes No
 
Enhanced Overdraft Privilege
Debit Card (everyday) Yes[3] N/A
ATM Withdrawal Yes[3] No

 

How soon can I use my Overdraft Privilege?

If this is a new account with Alpine Bank, the use of the Overdraft Privilege service may be available to use after a 30 calendar day period. Your Overdraft Privilege service may be available on the first business day following the 30 calendar day waiting period,assuming your account is in good standing[1].

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 it doesn't become overdrawn. However, if mistakes occur, Alpine Bank offers other solutions to help cover overdrafts in addition to Overdraft Privilege. Please contact your nearest location to inquire about these additional options:

Ways to Cover Overdrafts Example of Associated Fees
Good account management $0.00
Automatic "sweep" from your Alpine Bank savings or money market account $10.00 per transfer
Ready Reserve Line of Credit $10.00 Annual Fee and 18.00% APR[4]
Transfer of funds from your Alpine Bank Home Equity Line of Credit Automatic advances in $1,000.00 increments. See your local Alpine Bank for loan terms and rates.
Overdraft Privilege NSF paid item fee[2] for each item.

 

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 at 888-4ALPINE or 800-551-6098.

Overdraft Privilege Customer Agreement

An insufficient balance can result from several events, such as (1) the payment of checks, electronic funds transfers or other withdrawal requests; (2) payments authorized by you; (3) the return of unpaid items deposited by you; (4) bank service charges as disclosed in your Truth in Savings disclosure and the Fee Schedule; or (5) the deposit of items which, according to the bank’s Funds Availability Policy, are treated as not yet available or finally paid. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds. However, if you maintain your account in good standing, we may approve your overdraft items within your current available Overdraft Privilege limit as a non-contractual courtesy. For Overdraft Privilege consideration, your account is in good standing if you demonstrate responsible account management such as (1) making regular deposits to bring your account to a positive balance, for at least 1 business day, at least once every 30 calendar days (including the payment of all bank fees and charges) (2) there are no legal orders, garnishments, levies or liens against your account. In addition, based upon our review of your account management, if we determine you may be using Overdraft Privilege as a regular line of credit by creating excessive overdrafts, we may suspend the privilege without any prior notice. In the normal course of business, our practice is to pay electronic transactions first and then checks in serial number order. We reserve the right to change the order of payment without notice to you if we suspect fraud or possible illegal activity affecting your account. Also, please be aware that the order of item payment may create multiple overdrafts during a single banking day for which you will be charged our standard NSF item fee[2] for each overdraft (paid or returned). You may opt out of the privilege at any time, but you are responsible for any overdrawn balances at the time of opting out. Normally, we will not approve an overdraft for you in excess of the predetermined amount assigned to your account type. So as not to exceed your limit, please note that the amount of the overdraft plus the bank’s standard NSF paid item fee[2] will be deducted from the overdraft limit. We may refuse for any reason, at our sole discretion, to cover your overdrafts, even though we may have previously paid items for you at other times. You will be notified by mail of any non-sufficient funds items paid or returned that you may have; however, we have no obligation to notify you before we pay or return any item. The amount of any overdraft plus our standard NSF paid/returned item fee[2] that you owe us shall be due and payable upon demand, but if no demand is made, no later than 30 calendar days after the creation of the overdraft. If there is an overdraft paid by us on an account with more than one owner on the signature card, each owner and agent, if applicable, drawing/presenting the item(s) creating the overdraft, shall be jointly and severally liable for such overdraft plus our standard NSF paid item fee[2].

Overdraft Privilege should not be viewed as an encouragement to overdraw your account. As always, we encourage you to manage your finances responsibly by reviewing all your account notices and periodic statements as soon as you receive them, enter all items in your check register and reconcile your account(s) regularly.

Please note that your Overdraft Privilege limit may be available for each item paid under the limit created by checks and other transactions made using your checking account number such as a teller withdrawal, an automatic payment (ACH) transaction, or automatic bill payment and recurring debit card payment. Also, at your request, we may authorize and pay ATM transfers or withdrawals and everyday debit card purchases using your limit.[3] The Overdraft Privilege limit will not be included in the balance provided during an inquiry.

LIMITATIONS: Overdraft Privilege is a non-contractual courtesy that is available to individually/jointly owned accounts in good standing for personal or business use. Alpine Bank reserves the right to limit participation to one account per household or business and to discontinue this service without prior notice.

 


[1] Please refer to the Overdraft Privilege Customer Agreement for additional details.

[2] $15.00 for overdraft items of $15.00 or less, and $38.00 for overdraft items exceeding $15.00.

[3] FOR CONSUMER ACCOUNTS ONLY: Overdraft Privilege service will be made available for ATM or everyday debit card transactions upon your request. Call 800-551-6098, visit one of our branches, or drop off/mail in a completed opt-in/opt-out form to arrange for your ATM and debit card coverage. Click here for an opt-in/opt-out form.

[4] These costs are provided only as examples. Please ask us about our specific products and fees.

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