Overdraft Services

Whether you have incurred unexpected expenses or made an addition error, we understand that sometimes things happen. To help, we offer two different Overdraft Services.

Overdraft Protection Transfer | Overdraft Allowance


Overdraft Protection Transfer

Have you ever been overdrawn in your checking account because you have forgotten to transfer money? Overdraft Protection Transfer will automatically transfer funds from your HNB savings or secondary checking account to your overdrawn checking to prevent an overdraft and overdraft fees. This service requires prior set up and the transfer will be made for your predetermined amount.

Exact Amount – The exact amount of the overdraft will be transferred from the savings account to the checking account which will result in a zero balance in the checking account.

Incremental Amount – You can designate the increment of dollars to transfer. As long as there is a sufficient amount in the account from which you are transferring, multiples of the chosen amount will be transferred to cover the overdrawn balance in the checking account.

 
Example of Overdraft Protection Transfer Amounts
 
Incremental Transfer Amount
Overdrawn Balance
($73.82)
Overdrawn Balance
($174.15)
Overdrawn Balance
($514.66)
Exact Amount
$73.82
$174.15
$514.46
$25.00
$75.00
$175.00
$525.00
$50.00
$100.00
$200.00
$550.00
$90.00
$90.00
$180.00
$540.00
$125.00
$125.00
$250.00
$625.00
$140.00
$140.00
$280.00
$560.00
$200.00
$200.00
$200.00
$600.00
$250.00
$250.00
$250.00
$750.00
There is a $5.00 fee for an Overdraft Privilege Transfer. The total amount of fees for the month will be deducted from your checking account balance at the end of the month. In addition, an Overdraft Privilege Transfer will also be considered a withdrawal from your savings account which will incur a $1.00 excessive withdrawal fee for more than three total withdrawals from a savings account in one calendar month.
 
Per Reg D, an Overdraft Privilege Transfer is a “limited” transaction. There may not be more than a total of six limited transactions during a calendar month. Additional information regarding Reg D is available from HNB upon request or on our website under Personal Accounts >Savings.
 
If there are not sufficient funds in the savings account to cover the balance needed in the checking account, a transfer will be made for the amount in the savings account, leaving the checking account overdrawn.
 
To add this service to your account, you must sign an Overdraft Protection Transfer Agreement to give us authorization to make this type of transfer. You will also need to indicate the amount that you want to have transferred – either the exact amount of the overdraft or the increment of dollars for the transfer.

You can see a Customer Service Representative to sign up for this or print Overdraft Protection Transfer Agreement and send it to us by fax or mail.

For detailed information, read the Overdraft Protection Transfer Brochure.
 

 


 Overdraft Allowance

Unanticipated expenses or mathematical errors can leave your checking account short of cash. In addition, having a check returned due to insufficient funds is terribly embarrassing.

We have created HNB Overdraft Allowance as a special privilege for our checking account holders. If we receive a check, or transactions, which will overdraw the balance on your account, we will – at our discretion – strive to pay them up to the limit assigned to your account.

Manage your finances carefully, but know that if something unexpected happens with your account, the HNB Overdraft Allowance may help you avoid the embarrassment and expense of returned items.


Overdraft Allowance Limits
Home Grand 55 – has a limit of $1,000
Home Plus – has a limit of $1,000
Home Green – has a limit of $600
Home Free – has a limit of $600

HNB Overdraft Allowance has no annual fees, but each item processed that causes your account to be overdrawn will be assessed an overdraft fee of $30.00 (limit of $90.00 per day).

Accounts can qualify for Overdraft Allowance if the customer and account meet all the criteria:

Customer qualifications

  • Primary owner may not be a minor
  • Not be past due 31 days or more on any loan obligation to Home National Bank

Checking account qualifications

  • Opened for at least 62 days
  • Deposits through a teller window or ACH totaling at least $300 every 16 days
  • Not have a negative balance longer than 20 consecutive days
  • Not overdrawn more than the limit for the account type
  • Not be subject to any legal or administrative order or levy or hold

Please contact a Customer Service Representative if you have questions regarding HNB Overdraft Allowance or click download our Overdraft Allowance Brochure.