Frequently Asked Questions

Debit/ATM Card Overdraft Service

What is the Debit/ATM Card Overdraft Service?
Is there a cost?
Do I have a choice? Can I change my mind?
Are there other options?
Why would I want both Debit/ATM Card Overdraft Service and the Overdraft Protection Transfer Service?
Will these changes have any effect on my checks or automatic bill payments?
Will you always pay my overdrafts?
If I do not request the Debit/ATM Card Overdraft Service, can I be assured that no debit card or ATM transactions could overdraw my account?
What if I don’t want this service?
I’m not sure I should have the Debit/ATM Card Overdraft Service. What should I do?
Does this affect any automatic or recurring payments from my Debit Card?
What can I do to avoid overdrawing my account?
Important Disclosure

What is the Debit/ATM Card Overdraft Service?
It is a feature that you may choose to have on your checking account that may allow you to make one-time purchases using your Debit Card or withdraw cash at an ATM when you don’t have enough available funds in your checking account. An overdraft occurs when you do not have enough available money in your checking account to cover a transaction, but we pay it anyway to help you avoid additional fees or late charges from other companies.

Is there a cost?
Only if you use the service. If you do access the Debit/ATM Card Overdraft Service and have us authorize a one-time debit card or ATM transaction when you don’t have available funds, there will be a $35 overdraft/NSF fee for each transaction. We will not charge you for more than 4 overdraft/NSF transactions in any one business day. If your account remains at a negative balance for more than 5 consecutive business days, a continuous overdraft fee of $7 per day would also be applied. Please remember that if you do overdraw your account during the day but make a sufficient deposit* or transfer the same business day, there would not be an overdraft fee for that day’s transactions.

Do I have a choice? Can I change my mind?
Yes. We are providing customers with this information so they can make an informed choice. Regardless of your choice, you can always change your mind and reverse your decision by contacting us by phone, mail, at a branch office, or through the Self Service tab in Online Banking.

Are there other options?
Yes. You can also sign up for our Overdraft Protection Transfer service. This option links your checking account with any number of your other accounts at Associated: savings account, money market account, credit card, checking Reserve Line of Credit, or Home Equity Line of Credit. There is a fee in the event a transfer is needed to cover your overdraft. Loan products are subject to credit approval and involve interest and other costs. Please ask about details on fees, terms and conditions of these products.

Why would I want both Debit/ATM Card Overdraft Service and the Overdraft Protection Transfer Service?
If you do not have sufficient money in your savings account or you have exceeded your line of credit, your debit card or ATM transactions could still be denied. By adding the Debit/ATM Card Overdraft Service, you might have an additional cushion to help protect you in emergency situations. Please note that we have discretion to deny the transaction.

Will these changes have any effect on my checks or automatic bill payments?
No. The changes only affect one-time debit card transactions and ATM withdrawals.

Will you always pay my overdrafts?
Although we do pay many overdraft transactions with the Debit/ATM Card Overdraft Service, we cannot guarantee that every transaction will be authorized and paid. Whether your overdraft will be paid is discretionary and we reserve the right not to pay.

If I do not request the Debit/ATM Card Overdraft Service, can I be assured that no debit card or ATM transactions could overdraw my account?
In cases where the merchant requests an authorization, we would not pay or authorize those transactions if they would overdraw your account. Keep in mind that there are a growing number of merchants that automatically process small-dollar transactions (often under $25) and never request an authorization from the bank. In those cases, we do not have the opportunity to deny the transaction and it could overdraw your account. In those instances, we would not charge you an overdraft fee related to the debit card transaction, but these transactions could cause overdraft fees on other transactions, including checks.

What if I don’t want this service?
If you don’t request the Debit/ATM Card Overdraft Service, everyday debit card or ATM transactions that would overdraw your account will be denied.

I’m not sure I should have the Debit/ATM Card Overdraft Service. What should I do?
Call Associated Bank 24/7 at 888-290-2265 or stop by your neighborhood Associated branch. Regardless of your choice, you can always change your mind and reverse your decision.

Does this affect any automatic or recurring payments from my Debit Card?
Not at all. Many customers have insurance premiums, club dues or other automatic payments paid from their checking account via their Debit Card number. Those recurring payments are not affected by any of these changes and overdrafts would be authorized at our discretion, similar to checks, even if you do not add the Debit/ATM Card Overdraft Service.

What can I do to avoid overdrawing my account?
There are a number of steps you can take to reduce the likelihood of overdrawing your account, which include:

  • Always keep track of your transactions and account balance using a checkbook register and/or personal finance software. It’s easy to forget about debit card, ATM or automated transactions, so be sure you write them down. You should always know how much money you have in your account.
  • Verify your account balance 24/7 by using online banking, our automated telephone banking at 800-236-7160, or at the ATM.
  • Use direct deposit for your paycheck – you’ll have immediate access to your funds.
  • Add email alerts from online banking. It’s an easy way to be aware when the balance in your account falls below a level you determine.
  • Keep a “cushion” of extra money in your account just to be safe.
  • Set up our Overdraft Protection Transfer service that links your account to another savings, money market, or other account. There is a fee in the event a transfer is needed to cover your overdraft. Loan products are subject to credit approval and involve interest and other costs. Please ask about details on fees, terms and conditions of these products.
  • Consider adding a small line of credit that will help cover you if you overdraw your account. Just be sure to pay it back as soon as you can. Loans are subject to credit approval and involve interest and other costs. Please ask for details.

Important Disclosure:
A fee may be imposed for covering overdrafts created by check, in-person withdrawal, ATM withdrawal, debit card transactions, or other electronic means. An overdraft or NSF (unavailable funds) fee of $35 per item applies. A continuous overdraft fee of $7 per business day applies when an account is overdrawn for more than five consecutive business days. Whether your overdraft will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts. This is not an overdraft line of credit and you must make a deposit immediately to bring your account back to a positive balance. Please refer to the "What You Need to Know about Overdrafts and Overdraft Fees" disclosure for more details. *Please refer to the Funds Availability Policy disclosure within the Deposit Account Agreement for details on funds availability.

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