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An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway.

Overdraft Coverage Options: The choice is yours. Consider these ways to cover overdrafts:
Service Cost
Overdraft Protection linked to another deposit account you have at North Shore BankFootnote 1 $10 fee per transfer
Overdraft Protection linked to a Home Equity Line of Credit with North Shore BankFootnote 1, 2 Subject to interest
Overdraft Privilege $36 Overdraft/non-sufficient funds fee per item Footnote 3

Footnote 1Call us at 877-672-2265, or visit a branch to sign up or apply for these services Footnote 2Home Equity Line of Credit is subject to credit approval Footnote 3Daily fees may apply
 
Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another eligible account or Home Equity Line of Credit you may have at North Shore Bank for a fee or finance charge.
 
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 Overdraft Protection source is exhausted. 
 
Transactions Covered with Overdraft Privilege Standard Coverage
(No action required)
Extended Debit Card Coverage
(Your consent required on consumer accounts)*
Checks   X X
ACH or Automatic Debits X X
Recurring Debit Card Payments X X
Online Bill Pay Items X X
Teller Window Transactions X X
North Shore Bank ATM Withdrawals   X*
Everyday Debit Card Transactions   X*
 
If you would like to select Extended Coverage for future transactions:

*If you choose Extended Coverage on your consumer account, North Shore Bank 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.
 
If you have any questions about Overdraft Privilege or wish to discontinue the service in its entirety contact us at 877-672-2265, visit a branch or submit an online request

View our Discretionary Overdraft Privilege Policy.

What Else You Should Know

  • A link to another account or a Home Equity Line of Credit may be less expensive than an overdraft/non-sufficient funds fee. A single larger overdraft will result in one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our Mobile App, Online Banking, or Telephone Banking services to keep track of your balance. For additional financial education resources, please visit mymoney.gov.
  • As always, the best way to avoid overdrafts and overdraft/non-sufficient funds fees is to keep track of your transactions, using services such as our Mobile App, Online Banking, Telephone Banking, and Account Alerts can help.
  • The $36 overdraft/non-sufficient funds fee that is charged if you overdraw your account is the same fee that is charged if an item is returned unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate overdraft/non-sufficient funds fee of $36. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn in excess of the Overdraft Privilege limit amount as a result of a fee.
  • If an item is returned because the available balance in your account is not sufficient to cover the item and the item is presented for payment again, North Shore Bank will charge a non-sufficient funds fee each time it returns the item because it exceeds the available balance in your account. If, on representment of the item, the available balance in your account is sufficient to cover the item, North Shore Bank may pay the item, and, if payment causes an overdraft, charge an overdraft fee.
  • If your account balance remains overdrawn for 2 or more consecutive business days, we will charge your account a daily overdraft fee of $5 for each of the consecutive business days the account remains overdrawn, beginning with day 2.
  • For consumer accounts, there is a limit of 5 overdraft/non-sufficient funds fees ($180) per day we will charge. We will not charge an overdraft/non-sufficient funds fee if a consumer account is overdrawn by $1.00 or less. If the consumer account is overdrawn by $1.01 - $15.00, the overdraft/non-sufficient funds fee is $15.00. These exceptions do not apply to business accounts. For business accounts, there is a limit of 6 overdraft/non-sufficient funds fees ($216) per day we will charge.
  • North Shore Bank processes transactions Monday-Friday, excluding holidays in the following order: If the account is set up for mobile deposit or remote deposit capture credits, deposits received prior to previous business day's cut off times are posted to the account. Next, we post your ACH debit and credit transactions throughout the day based on the date and time the bank receives them. Next, for teller transactions, PIN debit card purchases, ATM deposit and withdrawals, online or phone transfers, both debits and credits post to the account based on the date and time the customer performs them. Next, signature debit card transactions post at the date and time the bank receives them. Checks are processed in sequential order. Last, monthly interest credit and any monthly service charge fees post to the account. 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/non-sufficient funds fee(s) or an increase in the amount of these fees. Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of overdraft/non-sufficient funds fees assessed.
  • Although under payment system rules, North Shore Bank may be obligated to pay some unauthorized debit card transactions, North Shore Bank will not authorize debit card or ATM transactions unless your account’s available balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any fee(s).
  • Giving us your consent to pay everyday debit card and North Shore Bank ATM transactions on your consumer account (Extended Coverage) may result in you incurring overdraft/non-sufficient funds fees for transactions that we would otherwise be required to pay without assessing an overdraft/non-sufficient funds 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. If you consent to Extended Coverage on your consumer account, it will remain on your account until it is otherwise withdrawn.
  • North Shore Bank authorizes and pays transactions using the available balance in your account. North Shore 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 authorizing North Shore Bank 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 North Shore Bank 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, the Mobile App, Telephone Banking, or North Shore Bank’s ATMs.
  • North Shore Bank will place a hold on your account for any signature-based authorized debit card transaction for one business day. The amount of the hold will be for the amount authorized, or as permitted under applicable payment network rules. When the hold ends, the funds will be added to the available balance in your account. ATM and PIN based debit card transactions usually post the same business day and other everyday signature-based debit card transactions usually post within 4 business days. This means that your available balance may not accurately reflect pending debit card authorizations until the transaction is received by us and paid from your account (i.e., posted). Even though we may increase your available balance when a merchant does not submit the transaction for payment in a timely manner, the obligation to the merchant still applies.
  • If your account is overdrawn after the hold funds are added to the available balance and the transaction is posted to the available balance, an overdraft/non-sufficient fund fee may be assessed. You may incur an overdraft/non-sufficient funds fee even though the available balance appeared to show there were enough funds to cover a transaction at the time it was authorized because other outstanding checks or payments you have authorized may be presented and paid by us before the debit card transaction is presented to us for payment posting.
  • Except as described herein, North Shore Bank will not pay items if the available balance in your account (including the Overdraft Privilege Limit, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).
  • North Shore 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.
  • If your debit card(s) is suspended, you will be unable to use your debit card for purchases or to access your accounts associated with your debit card(s) 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).
  • 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 suspended 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 25 business days for a minimum of one business day. You must bring your account balance positive for at least one business day to have the full Overdraft Privilege Limit 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.
  • See the Understanding Your Deposit Account Agreement for more information about your account.
If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at 877-672-2265.

Frequently Asked Questions

Overdraft Protection
When you make a withdrawal that results in a negative balance in your checking account, Overdraft Protection services may help prevent an overdraft by automatically transferring funds to your checking account from another eligible deposit account or Home Equity Line of Credit you have at North Shore Bank for a fee or finance charge. Overdraft Protection services apply to all transactions.

Overdraft Protection is a great way to protect against the large fees merchants may charge for returned checks, and it's available for just a small fee. If you would like to sign up for Overdraft Protection, please visit your nearest North Shore Bank location

Overdraft Privilege
Overdraft Privilege allows you to overdraw your account up to a preset limit for a fee in order to pay a transaction. This limit is set by North Shore Bank. Even if you have Overdraft Protection, Overdraft Privilege is still available as secondary coverage if the Overdraft Protection source is exhausted. North Shore Bank has the discretion to pay overdrafts on accounts in good standing and any payment is a discretionary courtesy, and not a customer right nor an obligation of North Shore Bank. North Shore Bank can stop paying overdrafts at any time without prior notice of reason or cause.
 
Learn more about Overdraft Protection and Overdraft Privilege.

North Shore Bank is required to obtain a one-time authorization from you to authorize and pay overdrafts for North Shore Bank ATM or everyday debit card transactions, and in exchange will charge an overdraft fee for this service. This is referred to as Extended Debit Card Coverage.

If you decline or do not give consent for this coverage, one of the following two events will occur if there are insufficient funds to cover North Shore Bank ATM and everyday debit card transactions:
  • The transaction will be declined.
  • Certain debit card transactions will be paid, but North Shore Bank is not permitted to charge an Overdraft Fee. 

You may change your election at any time by completing the Extended Debit Card Coverage Authorization Form, visiting a branch or contacting Customer Support at 877-672-2265.

Learn more about Extended Debit Card Coverage.

Still have questions?

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