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What you need to know about overdrafts and overdraft fees

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

We can cover overdrafts in two different ways:

  1. We have standard overdraft practices that come with your account.
  2. We also offer overdraft protection plans, such as a personal line of credit or a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

  • We do authorize and pay overdrafts for the following types of transactions:
    • Checks and other transactions made using your checking account number
    • Automatic bill payments

For consumer accounts, we do not authorize and pay overdrafts on the following types of transactions unless you ask us to. For business accounts, we will pay overdrafts unless you ask us not to.

  • ATM transactions
  • Everyday point-of-sale debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Simmons Bank pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee up to $36.00 each time we pay an overdraft.
  • We may charge up to $216.00 daily for paid overdraft items on consumer accounts and up to $288.00 daily for paid overdraft items on business accounts.

What if I want Simmons Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize or pay overdrafts on ATM and everyday point-of-sale debit card transactions, do one of the following: