Checking

ATM and Debit Card Overdraft Coverage Opt-In

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 (see below).
  2. We also offer overdraft protection plans, such as a link to a savings account or 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
  • One-time 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 Lake City Bank pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of $37 each time we pay an overdraft.
  • Also, if you don’t bring your account to a positive balance, you will be charged an additional Overdrawn fee of $25 on the fifth day of continuous negative balance (up to and including four fees per occurrence).
  • Accounts are limited to six Overdraft/NSF Return Item fees per business day.

What if I want Lake City Bank to authorize and pay overdrafts on my ATM and one-time debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and one-time debit card transactions, call (888) 522-2265, complete the secure form below or change your account settings in Online Banking.

If you authorize the bank to pay overdrafts for ATM and one-time debit card transactions, you may revoke that authorization at any time.

Note: A separate opt-in form must be completed for each account you wish to cover.

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