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 use the available balance method to determine whether your account is overdrawn, that is, whether there is enough money in your account to cover a transaction. Please see PointBank’s “Terms and Conditions: Overdraft and NonSufficient Funds (NSF) Fees” for more information and a further explanation of these services, which terms and conditions are expressly incorporated herein.
We can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your checking account. Please note that our standard overdraft practices are not available for Possibility Checking accounts.
- We may also offer overdraft protection plans, such as a link to another account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
This notice explains our standard overdraft practices.
What are the standard overdraft practices that come with my account?
We may authorize and pay overdrafts for the following types of transactions:
- Checks, in-person withdrawals and other transactions made using your checking account number
- Automatic bill payments [e.g., automated clearing house (ACH) and recurring debit card transactions]
For consumer accounts, we do not authorize and pay overdrafts for the following types of transactions unless you ask us to:
- Automated Teller Machine (ATM) transactions
- Everyday debit card transactions (such as one-time debit card and ATM cardpurchases)
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 or returned.
What fees will I be charged if PointBank pays my overdraft?
Under our standard overdraft practices:
- We may charge you a fee of up to $33.00 each time we pay an overdraft item.
- We may charge you a fee of up to $33.00 for each item that we return unpaid for nonsufficient funds (NSF).
- There is no limit on the total fees we can charge you for overdrawing your account.
- If the account is overdrawn by $1.00 or less you will not be charged an overdraft fee of $33.00.
What if I want PointBank 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, you may request a form by calling 940-686-7000 or 972-434-3200 or using the “Secure Email” button on the top of this page to send us a secure message.
If you choose to revoke your authorization, you may use any of the methods of contact listed above at any time.