• Overdrafts - What you need to know


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 various overdraft protection plans, which may be less expensive than our standard overdraft practices. To learn more, ask us about our overdraft protection 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

Wedo notauthorize and pay overdrafts for the following types of transactions unless you ask us to:

  • 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 First Tennessee Bank pays my overdraft?

Under our standard overdraft practices:

  • A $35 fee may be assessed, limited to four per day, for paying overdrafts that result in an overdrawn balance of $5 or more.
  • Also, a $25 fee is charged on the 15th day and 35th day that your account remains continuously overdrawn.

What if I want First Tennessee Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, or if you want to change a previous decision, please do one of the following:

Changes will take effect within five business days.

New accounts will not be opted in unless you give us that specific consent. You may do so at account opening by completing a form at the financial center. If you open your account online, you will make your decision during the online account opening process.

Additional Important Information

We typically do not pay overdrafts if your account is not in good standing, if you are not making regular deposits, or if you have too many overdrafts.

When your account is overdrawn, you are obligated to bring it to a positive balance immediately.


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