Overdraft Policy

(Non-Sufficient Funds)

“It is the policy of Firstbank to comply with applicable laws and regulations and to conduct business in accordance with applicable safety and soundness standards.”

An insufficient balance may result from:

• The payment of checks, electronic funds transfers, ATM withdrawals, or other withdrawal requests

• Payments authorized by you

• The return, unpaid, of items deposited by you

• The imposition of bank charges due to Non-Sufficient Funds and/or Overdrafts (NSF/OD)

• The deposit of items which according to Firstbank’s Funds Availability

• Policy, are treated as not yet “available” or finally paid

• Point-of-sale (POS) and/or debit card transactions

• More than one (1) overdraft fee may be charged against an account per day, depending on the number of checks presented and other POS and/or withdrawals made from your account.

Reasonable Overdrafts

Firstbank is not obligated to pay any item presented for payment if your account does not contain sufficient collected funds. However, if you maintain your account in good standing, defined as:

a) making regular deposits;
b) bringing the account to a positive balance every thirty days or less; and
c) no outstanding legal orders, Firstbank will approve your reasonable overdrafts as a non-contractual courtesy.

Generally, Firstbank will not approve an overdraft for you in excess of: $300 for “FirstFree Checking” accounts open more than thirty (30) days or $500 for other personal checking accounts open more than thirty (30) days. These limits include our Non-Sufficient Funds and/or Overdraft (NSF/OD) Charge(s).

Overdraft Notification

Firstbank may refuse to pay an overdraft for you at any time, even though we may have previously paid overdrafts for you.

You will be notified by mail of any non-sufficient funds items paid or returned; however, Firstbank has no obligation to notify you before we pay or return any item. The amount of any overdrafts plus our Non-Sufficient Funds and/or Overdraft (NSF/OD) Charge(s) that you owe us shall be due and payable upon demand. If there is an overdraft paid by Firstbank on an account with more than one (1) owner on the signature card, each owner, and agent if applicable, drawing/presenting the item creating the overdraft shall be jointly and severally liable for such overdrafts plus our Non-Sufficient Funds and/or Overdraft (NSF/OD) Charge(s).

Limitations

Firstbank overdraft protection is available only to consumer accounts (excluding Money Market accounts) for personal and household use, and Firstbank may limit the number of accounts eligible for overdraft Protection to one account per household. Additionally, Firstbank reserves the right to not approve any overdraft against your account until we can verify that your account is being maintained in good standing, as defined above. You are permitted to “opt out” of the overdraft program at anytime.

Account Fees

Whether Firstbank pays or returns a Non-Sufficient Funds item, a flat per item handling fee will be charged to your account as a Non-Sufficient Funds or Overdraft (NSF/OD) charge in the amount of $30.00 per item. Multiple Non-Sufficient Funds or Overdraft (NSD/OD) charges can be charged to your account as multiple items are presented for payment each day.

Transactions may not be processed in the order they occurred and that the order in which they are received and processed can affect the total amount of Non-Sufficient Funds or Overdraft (NSF/OD) charges incurred.

When processing items drawn on your account, our policy is to pay them according to the dollar amount. We pay the largest items first.