If your account has insufficient Available Balance to cover a transaction and Overdraft Protection is not available, then we may elect to pay the transaction. We refer to this as Overdraft Honor. When you open a new Account, or all Account holders reach the age of 18, provided your Account is eligible for Overdraft Honor and in good standing as described below, you will receive a $100 fixed Overdraft Honor Limit for the first 30 Calendar Days.
Unless you opt out of Overdraft Honor, it applies automatically to checks, ACH payments and recurring debit card payments. We refer to this as Overdraft Honor. If you want Overdraft Honor to apply to one-time (non-recurring debit card payments and ATM withdrawals) transfers, you must opt in. We refer to this as Overdraft Honor with Authorization. You can opt in to Overdraft Honor with Authorization through online banking, by going to a branch or by calling us.
After the first 30 Calendar Days, provided your Account remains in good standing, your Overdraft Honor Limit will be reviewed each Business Day and may vary between $0 and $2,000 daily, based on your deposit behavior and Account history. If at any time your Account is no longer in good standing, your participation in the Overdraft Honor Program will be terminated.
What does it mean to have Standard Overdraft Honor without Authorization?