What You Need To Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We have standard overdraft practices that come with your account.
This notice explains our standard overdraft practices.
To opt-in by email to have your Debit Card & ATM transactions covered by Overdraft Privilege, Click Here.
What are the standard overdraft practices 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
After August 15, 2010 we will 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 Basile State Bank pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $20 each time we pay an overdraft
- Also, if your account is overdrawn for 2 or more consecutive business days, we will charge an additional $3 per day.
- There is a $200 daily limit on the total fees we can charge you for overdrawing your account
What if I want Basile State Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions after August 15, 2010, call 337-432-6646, or complete this form and bring it to one of our offices or mail it to: PO Box 697, Basile, LA 70515.