Overdraft Opt-In Option

What You Need to Know about Overdrafts and Overdraft Fees

 

An overdraft occurs when you do not have enough available funds in your account to cover a transaction, but we pay it anyway. (For an explanation of how we compute the available funds in your account for overdraft purposes, see the “Overdrafts” section of Salisbury Bank and Trust Company’s Personal Deposit Account Agreement.) 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 another account or to an
    Overdraft 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 Salisbury Bank and Trust Company pays my overdraft?

Under our standard overdraft practices:

- We will charge you a fee of $35 each time we pay an overdraft transaction.
- We will not charge an overdraft fee for a transaction that overdraws your account
   by $5 or less.
- We will not charge you more than 6 overdraft fees per day.

 

What if I want Salisbury Bank and Trust Company to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on everyday debit card transactions, please click on the Opt-In link below.

- Click here to Opt-In your accounts.

- Click here to revoke prior Opt-In consent.

You can revoke your authorization for Salisbury Bank and Trust Company to pay overdrafts for ATM and everyday debit card transactions at any time.

Click here to view the Overdraft Coverage Options Disclosure.