Keep Your Overdraft Privilege
What You Need to Know about Overdraft Practices and Fees
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 two different ways:
- We have standard overdraft practices that may come with your account.
- We also offer overdraft protection plans, such as a link to another checking account, which may be less expensive than our standard overdraft privilege. To learn more, ask us about your options.
This notice explains our standard overdraft practices.
What are the standard overdraft practices that may come with my account?
We do authorize and pay overdrafts for customers in good standing that do not have excessive account abuse for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
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.
What fees will I be charged if Legend Bank pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of $30.00* each time we pay an overdraft. (Fee amount is subject to change).
- There is no limit on the total fees we can charge you for overdrawing your account.
What if I want Legend Bank 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 800-873-5604 (Mon - Fri 8-5 or Sat 8-12 CST) or click the Opt In/Opt Out button to complete the electronic form.
If we don't receive your authorization by August 15th, 2010 and there is not enough money available in your checking or designated overdraft protection account to cover an ATM or everyday debit card transaction, your transaction will be declined.
*Please note: the amount of this fee may change at any time. If it does change, you will receive a notice of that change at least 30 days prior to the change. You may call any of our locations to verify the current fee.
Opt in/Out Online Form
Alternative Ways to Make Your Choice
If your prefer to Opt In/Opt Out by phone please contact our Customer Care agents at 800-873-5604 Mon – Fri 8-5 or Sat 8–12 CST.
If you prefer to Opt In or Revoke Earlier Request by mail, please print this form and send it to your branch. You can find your specific branch address on our locations page.
Sometimes it's easier to talk about things in person. Please visit any of our locations and ask a personal banker to help you decide which plan is best for you.