When your life gets busy, it is easy to lose track of the balance of your account. We offer Overdraft Protection services to help you avoid uncomfortable situations.
Baltic State Bank provides several options for overdraft protection. All checking accounts provide our Standard Overdraft Practices, which allow us to pay your overdrafts made by checks and automatic bill payments.
Under our Standard Overdraft Practice, when you attempt an ATM or debit card transaction that would overdraw your account, the transaction is declined and you are not assessed a fee. Customers can direct us to authorize us to pay these transactions (at our discretion) by opting in to allow all transactions to be authorized.
Regardless of your choice, Standard or All, an overdraft fee of $35 will be assessed for any overdrafts. There is a maximum of 3 overdraft charges assessed per account, per day.
|An overdraft occurs when you don't have enough money in your account to cover a transaction, but we pay it anyway.||Standard Overdraft Practices
This option comes with your account. We generally let your online bill payments and checks go through and decline your debit card transactions and ATM withdrawals.
|Opt-In to All Transactions
If you switch to this option, we may also authorize ATM withdrawals and debit card transactions that overdraw your account. If we do, we'll charge an overdraft fee.
|ATM Overdraft Fee||No fee||$35|
|Debit Card Overdraft Fee||No fee||$35|
|Online Bill Payment Overdraft Fee||$35||$35|
|Check Overdraft Fee||$35||$35|
|Maximum Number of Fees||3 Overdraft Fees Per Day||3 Overdraft Fees Per Day|
We also offer overdraft protection options such as a line of credit or a linked savings account which may be less expensive than incurring an overdraft fee. Funds from these accounts can be used to pay transactions that would overdraw your account, saving you the $35 fee. Please contact us to discuss these options and we would be happy to assist you.
Benefits of Account Linking
- Avoid declined ATM/debit card payments
- Avoid returned checks
- Link your Personal Checking Accounts to Savings Accounts or a Line of Credit to lower your fees. You can link your checking account to a savings account or a line of credit. We'll use the money from the linked account to pay transactions that overdraw your account.