Overdraft Protection and Privilege

Unexpected overdrafts can occur from time to time and we can help you find tailored solutions to best fit your personal situation.
 

Understanding Your 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 Overdraft Protection Transfer Fee per transfer
Overdraft Protection linked to a Home Equity Line of Credit with North Shore BankFootnote 1, 2	Subject to interest
Overdraft Privilege – Standard or Extended Coverage3	$36 Overdraft Fee per item, per presentment, including representmentFootnote

^Footnote 1Call us at 877-672-2265, or visit a branch to sign up or apply for these services. ^Footnote 2 Home Equity Line of Credit is subject to credit approval. ^Footnote 3 Consecutive Days Overdrawn (OD) 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 - 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

*Business accounts automatically have Extended Coverage.

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

• Call us at 877-672-2265
• Visit any branch
• Log in to Online Banking and send a secure message

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 log in to Online Banking and send a secure message.

 

What Else You Should Know

• The words “we”, “our,” and “us” imply North Shore Bank (NSB). We may use the terms “item” and “transaction” interchangeably. Refer to our Deposit Account Agreements, and Fee Schedules for more information about your accounts.
• Good account management is the best way to avoid overdrafts, NSFs, and applicable fees. Keeping track of your balance is important. You can review your balance in a number of ways including our Mobile App, Online Banking, Telephone Banking and Account Alerts. For additional financial education resources, please visit mymoney.gov. Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice. A link to another account or a Home Equity Line of Credit may be less expensive than an Overdraft Fee or NSF Return Item Fee. A single larger overdraft will result in one fee, as opposed to multiple smaller overdrafts.
• The Overdraft Fee of $36 applies when you overdraw your account and the item(s) causing the overdraft are paid. A NSF Return Item Fee of $30 for personal accounts and $36 for business accounts 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 Fee or NSF Return Item Fee. All fees and charges will be included as part of the Overdraft Privilege Coverage amount. Your account may become overdrawn in excess of the Overdraft Privilege Coverage amount as a result of a fee.
• If an item is returned because the available balance in your account is non-sufficient to cover the item and the item is presented for payment again, you agree that we can charge a NSF Return Item Fee each time we return 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, we may pay the item, and, if payment causes an overdraft, you agree that we can charge an Overdraft Fee. Because we may charge a Return Item Fee each time an item is presented, we may charge you more than one fee for any given item as a result of a returned item and representment of the item. When we charge an Overdraft or NSF Return Item Fee, the charge reduces the Available Balance in your account and may put your account into (or further into) overdraft.
• If your account balance remains overdrawn for 5 consecutive business days, we will charge your account a Consecutive Days Overdrawn (OD) Fee of $15. Once your account becomes positive, anytime it becomes overdrawn for 5 consecutive business days, we will charge your account another $15 Consecutive Days Overdrawn (OD) Fee.
• For consumer accounts, there is a limit of 5 Overdraft and NSF Return Item Fees for a maximum of $180 per day we will charge. We will not charge a fee if a consumer account is overdrawn by $15 or less. These exceptions do not apply to business accounts. For business accounts, there is a limit of 6 Overdraft and NSF Return Item Fees for a maximum of $216 per day we will charge.
• To assist in managing your account, it’s important to understand the order in which transactions appear throughout the day, or when you performed them, does not necessarily reflect the order in which they are processed to calculate your end-of-day account balance. If you do not have available funds at the time the item is paid or returned, it could result in an Overdraft or NSF Return Item Fee. North Shore Bank generally processes transactions to your account at the end of each day, (Monday–Friday, excluding federal holidays). We also process certain categories of transactions on Saturdays, excluding federal holidays. For more details, the Bank’s processing order for transactions is described in the Processing Order section of our Deposit Account Agreements at northshorebank.com/depositaccountagreement. The order in which we determine what items are paid or returned (if applicable), may change at our discretion.
• Although we may be obligated to pay some debit card transactions, we will not authorize debit card or NSB ATM transactions unless the available balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any fee(s), and as a result you may incur fees if such transactions overdraw your account.
• Giving us your consent on your consumer account (Extended Coverage) to pay NSB ATM withdrawals and everyday debit card transaction may result in you incurring Overdraft and/or NSF Return Item Fees for transactions that we would otherwise be required to pay without assessing an Overdraft and NSF Return Item Fee. If you consent to Extended Coverage on your consumer account, it will remain on your account until it is otherwise withdrawn by you or us. 
• We authorize and pay transactions using the available balance in your account. See our Deposit Account Agreements at northshorebank.com/depositaccountagreement for a definition of Available Balance. We may place a hold on deposited funds in accordance with the definitions and rules of our Deposit Account Agreements, which will reduce the amount of your available balance.
• Debit card authorization is a merchant-authorized request for payment. We temporarily reduce (hold) the amount of the debit card authorization against the available balance for three days, or until received from the merchant, whichever occurs first. After the third day, the hold is released. Even though we release the hold when a merchant does not submit the transaction for payment in a timely manner, the obligation still applies and we must pay it when presented, even if it causes your account to become overdrawn. The amount of the hold will be for the amount authorized, or as permitted under applicable payment network rules. 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). You may incur an overdrawn balance and/or an Overdraft or NSF Return Item Fee even though the available balance appeared to show there were enough funds to cover a transaction at the time you initiated it because other outstanding transactions may be presented and paid first.
• Except as described in this notice, we may not pay items if the available balance in your account (including the Overdraft Privilege Coverage, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).
• We may suspend your debit card due to your account being overdrawn. The debit card will remain suspended until sufficient deposits are made to bring your available balance (including Overdraft Privilege Coverage), positive. If your debit card is suspended you cannot use it for purchases or at the ATM, and if it is set up to make recurring payments, those expenses will need to be covered using another payment method.
• Reasons why Overdraft Privilege may be reduced or suspended include, but are not limited to:
  • You default on a loan or other obligation with us
  • You or your account is subject to legal or administrative order or levy
  • You fail to maintain any of your accounts in good standing by not bringing your account to a positive balance within 25 business days for a minimum of one business day