What you need to know about overdrafts
Learn more about the ways overdrafts may affect your account.

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. To learn more about overdrafts, the fees that are associated with them, and how you can protect yourself, please review the information provided below to assist you.

Standard Overdraft Practices

Transaction type

Do we pay overdrafts?

Overdraft fees

Additional fees

Authorizing First Tennessee to pay overdrafts

Checks and other transactions made using your checking account number

Yes, at our discretion

$37

(limited to four per day, for paying overdrafts that result in an overdrawn balance of $5 or more)

$25

(charged on the 15th day and 35th day that your account remains continuously overdrawn)

No authorization needed

Automatic bill payments

Yes, at our discretion

$37

(limited to four per day, for paying overdrafts that result in an overdrawn balance of $5 or more)

$25

(charged on the 15th day and 35th day that your account remains continuously overdrawn)

ATM transactions

No, unless you authorize us to do so

$37

(limited to four per day, for paying overdrafts that result in an overdrawn balance of $5 or more)

$25

(charged on the 15th day and 35th day that your account remains continuously overdrawn)

Complete one of the following:

Changes will take effect within five business days.

Everyday debit card transactions

No, unless you authorize us to do so

$37

(limited to four per day, for paying overdrafts that result in an overdrawn balance of $5 or more)

$25

(charged on the 15th day and 35th day that your account remains continuously overdrawn)

We pay certain types of 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. Additionally, 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.


Overdraft Protection Plans

With overdraft protection plans from First Tennessee, you're covered in those moments when you fall a little short in your account. We help to fill in the gaps, so you can keep up with your responsibilities.


The Savings Account Link

  • Each day that items post and overdraw your account, the amount needed to cover any overdraft items is automatically transferred from your First Tennessee savings account to your checking account.
  • A once-per-day $15 overdraft transfer fee is assessed to your checking account each time that a transfer is made.
  • This fee will not be charged if the overdrawn amount on any one day is $5 or less.

What you need to know:

Although the funds transfer is automatic, please remember that federal law requires that we convert a savings account to a checking account if you exceed six preauthorized or automatic transfers per month. Transfers for overdraft protection purposes count toward this limit.

You'll also need to make transfers back into your savings (if you wish to replenish your savings) as you make other deposits since this is not done automatically. You can initiate this action through any of our normal transfer methods, including telephone and Digital Banking.

Overdraft protection transactions are subject to the terms of your Overdraft Services Agreement and Depositor Agreement with First Tennessee. To link your savings account to your checking account, see a Financial Services Representative or call us toll-free at 800-382-5465.


The Credit Card Link

  • The entire available credit limit on your First Tennessee credit card may be used for overdraft protection.
  • Specifically, each day that items post and overdraw your checking account, a cash advance is made equal to the amount needed to cover any overdraft items.
  • A once-per-day $15 overdraft transfer fee is assessed to your checking account each time that a cash advance is made from your credit card.
  • This fee will not be charged if the overdrawn amount on any one day is $5 or less.

What you need to know:

Overdraft protection transactions using your First Tennessee credit card account will be subject to the terms of your Cardholder Agreement (including terms governing accrual of interest on cash advances) and Overdraft Services Agreement with First Tennessee. When you receive your credit card statement, the cash advance will appear in your outstanding balance. To link your existing First Tennessee credit card, or to apply for a card, see a Financial Services Representative or call us toll-free at 800-234-2840. Credit cards are subject to credit approval.


The HELOC Link

  • The entire available line on your First Tennessee Home Equity Line of Credit may be used to protect you from overdrafts.
  • Each day items post and overdraw your checking account, you will get an automatic cash advance equal to the amount needed to cover any overdraft items.
  • A once-per-day $15 overdraft transfer fee is assessed to your checking account following each cash advance.
  • This fee will not be charged if the overdrawn amount on any one day is $5 or less.

What you need to know:

When you receive your statement, the cash advance will appear in your HELOC outstanding balance. Please note that the terms of your HELOC agreement, including terms providing for interest accrual on cash advances, will apply. Overdraft protection transactions are also subject to the terms of your Overdraft Services Agreement with First Tennessee.

If you already have a First Tennessee HELOC, you can speak with a Financial Services Representative or call us at 800-382-5465 to establish this link. If you would like to apply for a HELOC*, please visit a financial center, call us toll-free at 800-609-3092, or click here to begin.


Protecting yourself from overdrafts

The best way to avoid or reduce overdraft and returned-check fees is to manage your account so you don't overdraw it. Here are some tips to help you:

  • Keep track of how much money you have in your checking account by keeping your account register up-to-date. Record all checks when you write them. And don't forget to subtract any fees such as monthly service charges or check orders.
  • Pay special attention to your electronic transactions. Immediately record your ATM withdrawals and any fees, debit card purchases, and online payments.
  • Don't forget about automatic bill payments you may have set up.
  • Keep an eye on your account balance. Remember that some checks and automatic payments may not have cleared yet.
  • Review your account statements each month. Between statements, you can find out which payments have cleared and check your balance by using Digital Banking, calling First Tennessee or at an ATM.
  • For additional information on service fees that may apply to your account, please visit our Account and Service Fee Summary page.

 

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