Deposit services

Overdraft Information

What you need to know about overdrafts and overdraft fees.

What is an overdraft?

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in different ways:

  • We have standard overdraft practices that come with your account.
  • We also offer other overdraft protection plans which may be less expensive than our standard overdraft practices. To learn more, ask us about an advance from a line of credit.

This notice explains our standard overdraft practices.

Standard overdraft practices

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

Accounts opened before July 1, 2010

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

Accounts opened July 1, 2010 or after

After July 1, 2010, we do 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.

Overdraft fees

What fees will be charged if Bank of Ohio County pays my overdraft?

Under our standard overdraft practices:

Up to $27.50

We will charge you a fee of up to $27.50 each time we pay an overdraft.

$5.00 / day

If your account is overdrawn for 3 or more consecutive business days, we can charge an additional $5.00 every day.

No limit

There is no limit on the total fees we can charge you for overdrawing your account.

What if I want Bank of Ohio County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call us at (270) 274-5678 or complete the OPT IN NOTICE form and present it at any of our offices. You may also mail it to Bank of Ohio County, P.O. Box 307, Beaver Dam, Kentucky 42320.