Money Management Tools
Don’t let a small budget miscalculation leave you short of funds. Make sure you have ready access to funds if your checking account is overdrawn.
- Debt Reduction Strategies
- Your Guide to Preventing and Managing Overdraft Fees
- Money Management References
- Effective Strategies for Saving
- Seven Steps to Better Money Management
- Eight Simple Steps for Balancing your Checkbook
- Personal Budget Planner
Overdraft Opt In for ATM & Everyday Debit Card
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 can cover your overdrafts in two different ways:
1. We have standard overdraft practices that come with your account.
2. We also offer overdraft protection plans, such as a link to a savings account or a line of credit, 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 do authorize and pay overdrafts 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 Bank of the Sierra pays my overdraft?
Under our standard overdraft practices:
– We will charge you a fee of up to $35 each time we pay an overdraft.
– Also, if your account balance remains overdrawn for 10 consecutive calendar days, we will charge your account a continuous overdraft fee of $35 on the tenth day if your overdrawn balance exceeds $50.
– There is a daily limit of $175 in overdraft fees charged per day on your account.
What if I want Bank of the Sierra 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 1-888-454-2265, or complete the form below and click on the submit button. You can also complete the form, print it and present it at any Bank of the Sierra branch office or mail it to: Bank of the Sierra, PO Box 1930, Porterville, CA 93258-1930.
You can revoke your authorization for Bank of the Sierra to pay these overdrafts at any time by any of the above methods. Your revocation must include your name and account number so that we can properly identify your account.