What is an overdraft?
An overdraft occurs when a customer does not have enough money in an account to cover a transaction, but the bank pays it anyway.
How overdrafts may be covered
ProBank can cover overdrafts through standard overdraft practices that come with an account, or through overdraft protection plans such as a link to savings or an overdraft line of credit, which may be less expensive than standard practices.
Standard practices
ProBank authorizes and pays overdrafts for checks and other transactions made using a checking account number, and automatic bill payments. ATM and everyday debit card transactions may require customer authorization before they are paid through overdraft practices.
Fees
Under standard overdraft practices, ProBank may charge a fee of up to $30 each time it pays an overdraft, and there may be no limit on total fees charged for overdrawing an account.
Opt-in instructions
Customers who wanted ProBank to authorize and pay overdrafts on ATM and everyday debit card transactions were instructed to call 850-681-7761, print and complete a form, mail it to ProBank, PO Box 3696, Tallahassee FL 32315-3696, fax it to 850-383-8328, or present it at a local branch.