As a benefit of your good relationship with Farmers Bank of Northern Missouri, an Overdraft Privilege of $500.00 can be made available on your account.
Overdraft Privilege is not a line of credit.This means that should you inadvertently overdraw your account we have the discretion to cover your overdrafts up to $500.00 as outlined in our Discretionary Overdraft Privilege Disclosure. Fees charged for covering overdrafts, as well as the amount of the overdraft item, will be subtracted from this Overdraft Privilege amount as items are paid. It may be possible that your account will become overdrawn in excess of the Overdraft Privilege amount as a result of the assessment of a fee.
When your items are paid, this service will help save you the embarrassment and inconvenience of a returned item as well as the fee normally charged to you by merchants for items returned to them. The service is automatically available for checks, ACH, and recurring debit card transactions unless you opt out of Overdraft Privilege in its entirety by contacting us at (800) 515-3266. We will only approve and pay overdrafts for ATM and everyday debit card transactions if you ask us to by filling out and returning the enclosed form, calling us or coming by one of our convenient branch locations.
Balances at an ATM or other point of inquiry will not include the Overdraft Privilege limit; however, items may be paid in excess of the balance provided.
Should an overdraft occur, your account will still be charged the standard overdraft fee of $20 per item if the end of day balance is greater than negative $10.00, with a maximum overdraft fee of $100.00 per day. If items are returned, each item will be assessed the appropriate returned item fee of $20 per item.