Overdraft Authorization

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, and the bank pays the item. We can cover your overdraft in two different ways:

  1. The bank has standard overdraft services that come with your account.
  2. The bank also offers overdraft protection plans, such as a link to a savings account or a line of credit, which may be less expensive than our standard overdraft services. To learn more, ask us about these plans.


What are the standard overdraft services?

The bank may authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments (recurring transactions)

You must choose to have the bank authorize and pay overdrafts on:

  • Everyday debit card transactions (non-recurring transactions)
  • ATM Withdrawals

The bank pays overdrafts at its discretion and does not guarantee that it will always authorize and pay any type of transaction. If the bank does not authorize your overdraft transaction, it will be declined.


What fees will I be charged if First National Bank of Waterloo pays my overdraft?

We will charge you a fee of $30 each time we pay an overdraft. There is no limit on the total fees we can charge you for overdrawing your account.


To OPT-IN to have your debit card and ATM overdrafts paid, please call customer support, 618-939-6194.

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