Overdraft Opt In

An overdraft occurs when you do not have enough money in your account to cover a transaction, but Pioneer Bank pays it anyway.  We can cover your 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 link to a savings account, which may be less expensive than 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:

  1. Checks and other transactions made using your checking account number
  2. Automatic bill payments

We will not authorize and pay overdrafts for the following types of transactions unless you instruct us to do so:

  1. ATM transactions
  2. Everyday debit card transactions

We pay overdrafts at our discretion, which means that 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 Pioneer Bank pays my overdraft?

Under our standard overdraft practices:

  1. We will charge you a fee of up to $34.81 each time we pay an overdraft
  2. There is no limit to the total fees we can charge you for overdrawing your account

What if I want Pioneer Bank to consider authorizing and paying overdrafts on my ATM and everyday debit card transactions?

If you want us to consider authorizing and paying overdrafts on ATM and everyday debit card transactions, you must download and complete the form below and present it to a Pioneer Bank Representative.

 

Download the Opt-In Form