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Overdraft Protection Plans

Overdraft Protection Plans are optional services that can protect your deposit accounts from overdrafts. These options include linking a checking account to a savings account and/or an Overdraft Line of Credit. Generally, the service fees for these plans are less expensive than our Standard Overdraft Practices and may provide coverage for higher overdraft amounts.

Standard Overdraft Practice

Standard Overdraft Practices automatically apply to your personal deposit account unless you opt-In. This courtesy service permits us to help you to avoid embarrassment during the time of presentment or authorization that may be caused by a minor record keeping error or an unexpected transaction.

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 and ACH transactions

We do not authorize and pay overdrafts for the following types of transactions:

  • ATM transactions
  • Everyday debit card transactions (POS)

If you want to include ATM transactions and everyday debit card transactions (POS) as part of those items authorized and paid by the Standard Overdraft Practice, you can opt-in to do so. Please call us at 302-658-6850 for more information and to opt-in.

Artisans’ Bank cannot guarantee that we will always authorize and pay any type of overdraft transaction. If we do not authorize and pay an overdraft, your transaction will be declined at the time of transaction or returned when presented for payment.

What is the cost of your Standard Overdraft Coverage?

  • We will charge you a fee of $35 each time we pay an overdraft.
  • We will cap the number of fees charged per day to 4 (four).
  • If you overdraw your account by $6 or less on any business day, there will be no overdraft charge.

How quickly must I repay my Overdraft Privilege?

You should make every attempt to bring your account to a positive balance as soon as possible, and you must do so within 30 days. Also, if your account is overdrawn for more than 6 consecutive business days, we charge a negative balance fee of $5 for each business day your account is overdrawn. There is no limit on the number of negative daily balance fees we can charge you for maintaining your account in a negative balance. 

Less Expensive Overdraft Protection Products

Overdraft Line of Credit

You may apply for an Overdraft Line of Credit account that will be used to cover overdrafts that may occur to your checking accounts. All types of overdrafts will be covered, up to the amount of your line of credit, including ATM and everyday Visa debit card transactions. Overdraft Lines of Credit can be established for amounts ranging from $500 to $5,000, based on your credit qualifications. Overdraft Lines of Credit are subject to credit approval. See your account representative for rates, terms and conditions.

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Sweep Overdraft Protection

The second option available to cover overdrafts is to link another deposit account to your checking account. When a transaction occurs that results in your checking account being overdrawn, funds are swept from the deposit account you have designated as being linked to your checking account. Each time a deposit account sweep occurs, a $5 overdraft sweep fee will be charged to your checking account. If your linked deposit account does not have sufficient funds to cover the overdraft and the sweep fee, your transaction will be declined and/or you will be charged a $35 return item fee. See your account representative for terms and conditions.

*Have Questions about This Product, Contact Us