Federal Regulation E requires consumers to opt-in for Overdraft Coverage if they want the bank to authorize ATM and everyday debit card transactions that could overdraw their accounts.
See below for important information about overdrafts and the fees associated with this service before opting in.
We offer a number of solutions to help you avoid overdraft fees. There are free account alerts that can be set up in Online access or our mobile app to help safeguard your accounts. You can even have alerts sent to multiple email addresses or push notices to your mobile phone.
In addition to Overdraft Coverage, Overdraft Protection is also available. Overdraft Protection provides automatic transfers from your linked Bank of Texas savings account, money market account or personal line of credit to your checking account at no charge to you. Contact the ExpressBank at 800-346-5312 or your local banking center, or visit us online to learn more.
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 your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- If you are enrolled in Overdraft Protection, we will automatically transfer any available funds at no charge to you from your linked Bank of Oklahoma savings, money market account or personal line of credit into your checking account at the end of any business day on which your available balance is less than zero.
This notice explains our standard overdraft practices.
What are the standard overdraft practices that come with my account?
We authorize and pay overdrafts on eligible accounts 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 Bank of Texas pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $34.50 each time we pay an overdraft.
- You will not be charged more than 3 overdraft fees* in one day.
- You will not be charged any overdraft fees if your ending balance for the day is overdrawn $50.00 or less.
What if I want Bank of Texas to authorize and pay overdrafts on my ATM and everyday Debit Card transactions?
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, please visit a banking center or enroll via Online or Mobile Access.
You may revoke this consent at any time by visiting a banking center or completing the form online or in mobile access.
||I do not want Bank of Texas to authorize and pay overdrafts on my ATM and everyday debit card transactions.
||I want Bank of Texas to authorize and pay overdrafts on my ATM and everyday debit card
*We will not charge you a fee if your transaction is returned unpaid.
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