If you overdraw your account by a check, ACH electronic payment, online bill payment, ATM withdrawal or point-of-sale debit card transaction, Overdraft Protection may cover your transaction even though you do not have sufficient funds in your account. If Overdraft Protection is activated, your account will have a negative balance. You may incur a fee for each paid or approved transaction; however, you will not incur any merchant fees.
If your account is set up to with overdraft protection from a share or loan with Firstmark, we will access available funds from these sources before using your Overdraft Protection overdraw tolerance, up to the maximum allowed limit.
All members enrolled in the Overdraft Protection service will have a daily limit. While the limit is accurate to pay today’s overdraft items, it may change up or down the following day. For that reason, member limits are not disclosed. Limits are based on a number of factors including the age of the account, frequency and amount of deposits and other related account information. The account must also be in good standing, meaning the member is not in default on any share or loan with us or overdrawn on their checking account.
You do not have to sign up for Overdraft Protection to work for your paper checks, BillPay or electronic (ACH) items you originated from your checking account. However, you do have to "Opt-In" if you want the Overdraft Protection to apply to your everyday debit card transactions and ATM withdrawals by completing the Overdraft Protection Service Form.