The choice is yours when it comes to protecting against the costly and inconvenient problems associated with non-sufficient funds in your Peoples Bank Checking Account. Our overdraft protection options provide a safety net so you have coverage in case you find yourself with too little cash.
Overdraft Protection Transfer 1 |
Redi Advantage Line of Credit 4 |
Standard Overdraft Coverage 2 |
Standard Overdraft Coverage 2
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What's Covered? |
Checks, automatic bill payments, and recurring debit card transactions. |
Checks, automatic bill payments, and recurring debit card transactions–plus, everyday debit card transactions and ATM withdrawals. |
Checks, automatic bill payments, and recurring debit card transactions. |
Checks, automatic bill payments, and recurring debit card transactions–plus, everyday debit card transactions and ATM withdrawals. 3 |
How Does it Work? |
Link an eligible account to cover overdrafts. Each time a transaction is presented against insufficient funds, your linked account will transfer the money necessary to bring your balance to zero. |
Links your checking account to a line of credit (subject to approval.) Money is disbursed in $100 increments to the overdrawn account. The transfer takes place once daily as required to cover any overdrawn balances. |
If there isn't enough money in your account to cover a transaction, we may, at our discretion, cover that transaction for you. |
This extended standard overdraft coverage is for everyday debit card purchases and ATM withdrawals if you enroll. 3 |
Standard Overdraft Coverage is a service offered to eligible checking accounts and requires no action on your part. Payment of items is discretionary. You must keep your account in good standing by making regular deposits. Infrequent deposits or failure to bring your checking account in good standing may reduce or remove your Standard Overdraft Coverage. |
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What Does it Cost? |
17% Annual Percentage Rate on advances. |
$36 non-sufficient fund fee per item up to four (4) per business day. |
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How Do I Enroll? |
At your local business center. |
At your local business center. |
All eligible checking accounts come with standard overdraft coverage. |
Enroll by calling 828-466-1765 or toll-free at 877-802-1212, or at your local business center. |
1Link an eligible checking or savings account to cover overdrafts. An account is considered eligible if held by the same ownership. Each time a transaction is presented against insufficient funds, your linked account will transfer the money necessary to bring your balance to zero. This coverage will not authorize everyday debit card transactions and ATM withdrawals.
2Standard Overdraft Coverage is a service offered to eligible checking accounts and requires no action on your part. Payment of transactions is discretionary. You must keep your account in good standing by making regular deposits. Infrequent deposits or failure to bring your checking account in good standing may reduce or remove your Standard Overdraft Coverage. Click here to read the full standard overdraft policy disclosure.
3Banking regulations require that customers "opt-in" to this additional coverage before we can cover overdrafts for ATM and debit card transactions.
4The Annual Percentage Rate (APR) will be fixed at 17.00%. You will be charged interest from the transaction date. We will use a method called "average daily balance including current transactions" to compute the finance charge. The minimum monthly payment required is 3% of the outstanding balance including finance charges, or $25, whichever is greater, but not more than the outstanding balance.
11/1/2022
If you would like to discuss overdraft protection for your account or have a concern, contact us at 828-466-1765 or toll-free 877-802-1212, or visit a local North Carolina branch.
How you can avoid overdraft fees
Getting started managing your finances
