What You Need to Know about Overdraft Practices and 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 your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans, such as a link to a savings account or to an overdraft line of credit, 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 for consumer accounts.
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
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
- ATM transactions
- Everyday 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 Idaho Independent Bank pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of $30.00 per item each time we pay an overdraft.
- There is a limit of $150.00 on the total fees we can charge you for overdrawing your account per day.
- If your account is overdrawn for seven or more consecutive business days, we will charge an additional $35.00 beginning on the seventh business day and every seventh business day thereafter that the account remains overdrawn.
What if I want Idaho Independent Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, fill in and submit the form below.
Alternatively, you may fill in, print and mail the form to Idaho Independent Bank, Attn: Customer Support, P.O. Box 7592, Boise, ID 83707-1592; or call us at call (208) 338-8012 (within the Treasure Valley) or 1-877-947-1133 and we'll be glad to help you.