Overdraft Protection

 Overdraft Protection for Checking Account Customers

It’s A Privilege For Our Checking Account Clients
Unanticipated expenses or mathematical errors can leave your checking account short of cash. In addition, having a check returned due to insufficient funds is terribly embarrassing. We have created Overdraft Privilege as a special privilege specifically for The Rawlins National Bank checking account clients whose accounts are in good standing. There is absolutely no charge for this service unless you use it.

How Does It Work?
As long as you maintain your Bank checking account in good standing, we may, at our discretion, honor your overdrafts up to the limit assigned. If you use Overdraft Privilege, the Bank will deduct its normal overdraft charge of $28.00 per item. Any deposit account that is continually overdrawn for 15 consecutive calendar days, a $5.00 per day fee will be assessed beginning the 16th day, for as long as the account is overdrawn.

We will notify you by mail when an overdraft occurs. The notice will reflect the item(s) paid, as well as the Bank’s charge for the overdraft item(s). It is important to subtract the fees from the balance in your checkbook.

Overdraft Privilege Is In Force Today
Overdraft Privilege will be available if your eligible account type has been open for at least sixty (60) days and thereafter you maintain your account in good standing, which includes at least continuing to make deposits consistent with your past practices, and depositing at least $400 or more in your account within a thirty (30) day period.

Repaying Overdrafts and Fees
You will be required to bring your checking account into a positive balance within 15 calendar days of your overdraft. If, after 15 days, your account remains in a negative position, we may close your account and take appropriate steps to recover funds advanced to cover your overdrafts, as well as the Bank’s fees.

Overdraft Privilege Limits

Free Personal Checking:               $300

Personal Regular Checking:         $300

Personal Interest Checking:        $600

You can check your account balances at any time 24/7/365 by using either our Online Banking or TeleBank services! Visit www.rnbonline.com for more information.

The balance reflected through these services will not include your Overdraft Privilege Limit. If you have questions or do not wish to have this service available, please stop by one of our convenient locations, or call us at (307)324-1100 / (800)788-9479.

Transactions Covered By Overdraft Privilege
Transactions which may, at our discretion, be honored under the Overdraft Privilege include:

  • Checks and other debits cashed at teller windows.
  • ACH debit transactions (automatic payments).
  • Automatic loan payments.
  • Checks issued to a third party.

Overdraft Privilege May Cover ATM and Debit Card Transactions
If you sign the Opt-in authorization, your Overdraft Privilege may extend to transactions made at an ATM or with your Debit Card. In the case of an ATM, the balance shown on your receipt will reflect your actual balance, not including your Overdraft Privilege limit.

Overdraft Privilege Covers All Existing Eligible Accounts
Overdraft Privilege may be granted on all checking accounts in good standing.

Going Over Your Overdraft Privilege Limit
Should you write checks that put you over your Overdraft Privilege limit, the Bank may, at our discretion, return the check or checks to the payee(s). In addition, the normal insufficient funds fee of $28.00 per item will be charged to your account. An insufficient funds notice will be mailed to you. Any deposit account that is continually overdrawn for 15 consecutive calendar days, a $5.00 per day fee will be assessed beginning the 16th day, for as long as the account is overdrawn.

If your checks are returned:

  • The merchant may charge you a fee when your check is returned unpaid and may be unwilling to accept checks from you in the future.
  • The person or vendor who accepted your check as payment may be charged a fee by his/her bank where he/she deposited your check.
  • Your credit rating may be adversely affected.

Payment Order Of Items
The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. The payment order can affect the number of items overdrawn or returned unpaid and the amount of the fees you may have to pay. To assist you in managing your account, we are providing you with the following information regarding how we process those items.

Our policy is to process on us checks first – according to the dollar amount with the smallest items being processed first for the day on which they are processed. We process electronic transactions second – according to the dollar amount with the smallest items being processed. We process checks and similar items third – in numerical order for the day on which they are processed.

If a check, item or transaction (other than an ATM or everyday debit card transaction) is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item for insufficient funds (NSF). The amounts of the overdraft and NSF fees are disclosed elsewhere, as are your rights to opt in to overdraft services for ATM and everyday debit card transactions, if applicable. We encourage you to make careful records and practice good account management. This will help you avoid creating items without sufficient funds and potentially incurring the resulting fees.

Overdraft Checking Customer Overdraft Policy

An insufficient balance could result in several ways, such as: a) the payment of checks, electronic funds transfers, or other withdrawal requests; b) payments authorized by you; c) the return of unpaid items deposited by you; d) the assessment of bank service charges; or e) the deposit of items which, according to the Bank’s Funds Availability Policy, are treated as not yet available or finally paid. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds. Rather than automatically returning, unpaid, any non-sufficient funds items that you have, if your eligible account is in good standing, which includes at least: a) you are not in default on any loan obligation to The Rawlins National Bank, b) you bring your account to a positive balance (not overdrawn) at least once every fifteen (15) calendar days, and c) your account is not the subject of any legal or administrative order or levy, we will consider – as a discretionary courtesy or service and not a right of yours nor an obligation on our part – approving your reasonable overdrafts.

As an alternative, you may wish to apply for a Demand Deposit Loan Account and pay interest when the credit line is used or you may initiate an automatic transfer authorization to have funds transferred from another account at the Bank to cover an overdraft. Normally, we will not approve an overdraft for you in excess of your limit including any overdraft handling charges(s). We may refuse to pay an overdraft for you at any time, even though we may have previously paid overdrafts for you. You will be notified by mail of any non-sufficient funds items paid or returned that you have; however, we have no obligation to notify you before we pay or return any item. The amount of any overdraft plus our overdraft or non-sufficient funds charge(s) of $28.00 per item that you owe us shall be due and payable upon demand. Any deposit account that is continually overdrawn for 15 consecutive calendar days, a $5.00 per day fee will be assessed beginning the 16th day, for as long as the account is overdrawn.

If there is an overdraft paid by us on an account with more than one (1) owner on the signature card, each owner, and agent if applicable, drawing/creating the item creating the overdraft, shall be jointly and severally liable for such overdraft, plus our overdraft or non-sufficient funds handling charges(s) of $28.00 per item. Any deposit account that is continually overdrawn for 15 consecutive calendar days, a $5.00 per day fee will be assessed beginning the 16th day, for as long as the account is overdrawn. For your benefit, The Rawlins National Bank has set a deminimus amount of $10.00. What this means is that if your account is overdrawn by $10.00 or less according to the memo ledger, which reflects posted and pending items, we will not charge our overdraft or non-sufficient funds charge(s) to the item(s) overdrawing your account. You may be able to access your overdraft checking limit through a teller, ACH, check, or automatic payment. In addition, if you sign the Opt-in authorization, you may be able to access your overdraft checking limit through an ATM or debit card purchase.

LIMITATIONS: Available to accounts in good standing. Your eligible account type must be opened for at least sixty (60) days and thereafter you maintain your account in good standing, which includes at least continuing to make deposits consistent with your past practices, and depositing at least $400 or more in your account within each thirty (30) day period. The fees charged for the items paid into overdraft or returned, as well as the amount of the overdraft item(s), will be subtracted from the disclosed overdraft protection dollar limit. The order in which transactions are received and processed can affect the total amount of overdraft fees incurred by a customer. The Rawlins National Bank reserves the right to limit participation to one account per customer and to discontinue this product at any time with prior notice. Please advise a Customer Service Representative if you do not wish to have this service available on your account.