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Personal Banking

Overdraft Coverage Options:

Overdraft Privilege and Overdraft Protection

Life happens! The Bank understands that unexpected overdrafts occur from time to time - Overdraft Coverage can help.

Overdraft Coverage Options

The choice is yours. Consider these ways to cover overdrafts:

Overdraft Protection services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account you may have at The Bank.

Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Even if you have overdraft protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Please review the "What Else You Should Know" section included with this letter for other important information.

Service Cost

1 Call us at (337) 824-0033, email us at overdraftprivilege@thebank-louisiana.com, or come by a branch to sign up for these services.

Overdraft Protection Link to Another Deposit Account you have at The Bank1 No fee for automated transfers; $5 fee for each bank staff assisted telephone transfer
Overdraft Privilege $28 Overdraft Fee per item. Daily fees may apply.
Transactions Covered with Overdraft Privilege Standard Coverage (No action required) Extended Coverage (Your consent required on consumer accounts) *

If you would like to select Extended Coverage for future transactions:

Checks X Yes X Yes
ACH - Automatic Debits X Yes X Yes
Recurring Debit Card Payments X Yes X Yes
Online Bill Pay Items X Yes X Yes
Internet Banking Transfers X Yes X Yes
Telephone Banking X Yes X Yes
Teller Window Transactions X Yes X Yes
ATM Withdrawals   No X* Yes
Everyday Debit Card Transactions   No X* Yes

*If you choose Extended Coverage on your consumer account, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Extended Overdraft Privilege coverage, it is not necessary to request it again. Business accounts automatically have Extended Coverage.

You can discontinue the Overdraft Privilege in its entirety by contacting us at (337) 824-0033 or sending us an e-mail at overdraftprivilege@thebank-louisiana.com.

What Else You Should Know

  • A link to another account may be a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our mobile banking, Internet banking, and telephone banking services to keep track of your balance. For additional financial education resources, please visit www.mymoney.gov.

  • The $28 Overdraft Fee that is charged if you overdraw your account is lower than the fee that is charged if a check is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft Fee or a Return Item Fee of $30. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn more than the Overdraft Privilege limit amount because of a fee.

  • If your account balance remains overdrawn for longer than 7 calendar days, we will charge your account a daily Overdraft Fee of $6 for each of the consecutive calendar days the account remains overdrawn, beginning with day 8.

  • For consumer accounts, there is a limit of 6 Overdraft Fees ($168) per day we will charge. This exception does not apply to business accounts.

  • This describes the posting order for purposes of determining overdrafts. All credit transactions are processed first. Debits, or withdrawals, from your account will be processed as follows: force-post and on-us items first, electronic items such as ATM and Preauthorized transactions second, then checks. Force-post, on-us items, and electronic items are processed from lowest to highest within each category. Checks are processed in serial number order. The processing order of these items is important because if there is not enough money in the account to pay for the items in the order they are processed in accordance with the processing order, there may be an overdraft on your account which may result in overdraft fees or return item fees or an increase in the amount of these fees.

  • Although under payment system rules, The Bank may be obligated to pay some unauthorized debit card transactions, The Bank will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions and any fee(s).

  • Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring Overdraft Fees for transactions that we would otherwise be required to pay without assessing an Overdraft Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may also help you avoid overdrafts in excess of your available balance that could result in suspension of your debit card. If you consent to Extended Coverage on your consumer account, it will remain on your account until you otherwise withdraw it.

  • The Bank authorizes and pays transactions using the available balance in your account. The Bank may place a hold on deposited funds in accordance with our Deposit Account Agreement and Disclosure, which will reduce the amount in your available balance. The available balance for checks, ACH items, and recurring debit card transactions is comprised of the ledger balance, less any holds on deposited funds and any debit card holds, plus the amount of the Overdraft Privilege limit and any available overdraft protection. The available balance for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance, less any holds on deposited funds and any debit card holds, plus any available overdraft protection, but does NOT include the Overdraft Privilege Limit. For accounts with Extended Coverage, the Overdraft Privilege Limit is included in the available balance for authorizing ATM and everyday debit card transactions.

  • Please be aware that the Overdraft Privilege amount is not included in your available balance provided through online banking, mobile banking or The Bank's ATMs.

  • The Bank will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends, the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Overdraft Fee may be assessed.

  • Except as described herein, The Bank will not pay items if your account does not contain available funds (including the Overdraft Privilege limit) to cover the item(s) and the amount of any fee(s).

  • The Bank may suspend your debit card if you incur overdrafts in excess of the available balance in your account, including any Overdraft Privilege limit (as described herein). Debit cards on your account will remain suspended until you make sufficient deposits so that your available balance, taking into account any Overdraft Privilege limit, is positive and then you contact us.

  • The Bank may also suspend your debit card if your account is overdrawn more than thirty-two (32) consecutive calendar days. Debit cards on your account will remain suspended until you make sufficient deposits so that your account balance is positive.

  • The Bank may also suspend your debit card if we are unable to contact you due to an incorrect mailing address or Phone Number(s). You must contact us with your correct mailing address and/or Phone Number(s) to have your debit card reinstated.

  • We will charge a fee of $15 to reactivate your debit card if we suspend your Debit Card.

  • If your debit card is suspended, you will be unable to use your debit card for purchases or to access your account at the ATM, and if you use your debit card for recurring payments, e.g., utilities, you are responsible to make other arrangements for your recurring debit payment(s).

  • New consumer and business checking accounts will receive a $100 Introductory Overdraft Privilege limit at account opening. The Overdraft Privilege limit for consumer accounts will be increased to $500 after 35 days in good standing or $700 for consumer accounts with a direct deposit. The Overdraft Privilege limit for business accounts will be increased to $700 after 60 days in good standing.

  • Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.

  • Overdraft Privilege may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within thirty-two (32) days for a minimum of one business day. You must bring your account balance positive for at least one business day to have Overdraft Privilege reinstated.

  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account Agreement and Disclosure. The total (negative) balance, including all fees and charges, is due and payable upon demand.

If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at (337) 824-0033 or visit a branch.