Excessive Overdrafts

What is an overdraft?

An overdraft occurs when you don’t have enough money in your account to cover a transactions, but the bank pays the transactions anyway. You can overdraw your account through check, ATM transactions, debit card purchases, automatic bill payments and electronic or in-person withdrawals.

How can you avoid or minimize overdraft fees?

  • Consider opting-out of enhanced Bounce Protection. If you find that everyday debit card and ATM transactions are difficult to manage, we can restrict them from accessing your Bounce Protection Limit.
  • Consider completely removing Bounce Protection from your account. We can easily remove Bounce Protection from your account if you would prefer. You may still be responsible for returned item fees when checks or other transactions on your account are returned.
  • Consider Sweeps. A sweep can be set up to transfer funds from a savings account to your checking account in the event of an accidental overdraft. A small sweep fee is assessed with each transfer. Stop by a branch or contact us to learn more about getting signed up for sweeps.
  • Tracking your spending daily. Use a check register to document your daily transactions so you know exactly the amount of funds you have. The balances given from Online Banking, ATM, mobile apps or over the phone may not be your exact balance. There could be outstanding items that haven’t been presented to the bank for payment so writing down each transaction will assist you in knowing exactly how much money you have so you can avoid overdrafts.

Consider signing up for these services to assist you in keeping track of your transactions and account balances.

  • Online Banking – Monitor your daily balance and keep track of your transactions and account activity, plus transfer funds between accounts. You can also set up email alerts to notify you regarding specific transactions, when a specific check number clears or balance thresholds through Online Banking.
  • Mobile Banking App – Check account balances, transfer money and more! Download the RCB Bank mobile banking app for your phone or tablet.
  • Text Alerts9 – set up text notifications to notify you of account transactions, and also check account balances.
  • Anytime Banker Line877-812-4663 –  This automated phone system is available for use 24 hours a day, 7 days a week. You can monitor your daily balance and keep track of your transactions and account activity. Transactions that you have initiated but have not been presented to the bank are not reflected in your current balance information. With this service, you will also have the ability to transfer funds between accounts.