Without Overdraft Protection. In this example, the account does not have Overdraft Protection or Pre-Authorized Overdraft Transfers. After transactions are sorted according to the Bank’s Transaction Posting Order, it was determined that funds were not sufficient to pay her car insurance ($78.71); therefore, a SUPPLEMENT B - OVERDRAFT SERVICES $25.00 overdraft fee, reflected on her statement as OD Xxxx Xxx, was charged. The following day, the ACH was returned and the overdraft fee (OD Item Fee) was reversed. Xxxxxx would incur a $25.00 non-sufficient funds fee, reflected on her statement as NSF Return Item Fee, for the transaction that caused the account to become overdrawn. She also may be subject to a return item fee or incur late fees from her Insurance Company. Date Posted Transaction Type Check # Transaction Amount Balance Previous Balance 95.03 2/2/2024 D/C TRN (Groceries) -59.63 35.40 2/2/2024 ACH Car Insurance -78.71 -43.31 2/2/2024 OD Item Fee -25.00 -68.31 2/3/2024 Return Item Credit 78.71 10.40 2/3/2024 Reverse OD Item Fee 25.00 35.40 2/3/2024 NSF Return Item Fee -25.00 10.40 Option B – With an Overdraft Protection Limit and Opt-in What would have happened if Xxxxxx enrolled in Overdraft Protection and was approved for an Overdraft Protection limit of $200.00 and opted-in for coverage of electronic items? If Xxxxxx’s Overdraft Protection limit was available and sufficient to cover the amount of her car insurance ($78.71), then the transaction would have been paid. However, it caused the account to become overdrawn, so Xxxxxx would have incurred a $25.00 overdraft fee, reflected on her statement as OD Item Fee. She would not, however, need to be concerned about being charged late fees by her insurance company because the bill was paid. The customer should return the account to a positive balance as soon as possible and keep in mind that every debit item paid on an overdrawn account will be subject to a fee of $25.00, not to exceed five overdraft fees per day ($125.00) and will be included in the Overdraft Protection Limit. Date Posted Transaction Type Check # Transaction Amount Balance Previous Balance 95.03 2/2/2024 D/C TRN (Groceries) -59.63 35.40 2/2/2024 ACH Car Insurance -78.71 -43.31 2/2/2024 OD Item Fee -25.00 -68.31 Option C – With Pre-Authorized Overdraft Transfer What would have happened if Xxxxxx had previously set up Pre-Authorized Overdraft Transfers from her savings account at the Bank to help cover incidental overdrafts? If funds were available in Aliyah’s savin...
