Ready Reserve & Overdraft Protection
With Arthur State Bank’s Ready Reserve and Overdraft Protection options, you never have to worry about being short of funds.
Life is busy and we are here to help! Arthur State Bank wants you to know that when you get caught short of funds, you have options. It’s like giving yourself a loan when you need it most. This Ready Reserve option activates Ready Reserve processing on a checking account if a check is presented against insufficient funds.
Consider using your Arthur State Bank savings or money market account as overdraft coverage for your Arthur State Bank checking account. This service will automatically transfer money from your linked savings or money market account to avoid being overdrawn and incurring overdraft fees.
Overdraft Access is a product offered by Arthur State Bank to our customers at no additional monthly fee. Overdraft Access is placed on your account so that should you inadvertently overdraw your account for any reason, you will be covered automatically up to $750.00. This service will save you the embarrassment and inconvenience of a returned check as well as the fee normally charged to you by merchants for checks returned to them.
Should an overdraft of checks, preauthorized drafts, recurring debits, or telephone-initiated transfers occur, your account will be charged the normal $35.00 for handling each item paid by the automatic overdraft program. Any overdraft fees incurred will reduce the amount of the overdraft access balance remaining for your use.
Once the overdraft protection is used, you will have forty-five(45) days to bring the account to a positive balance. If this is not done, the account will be subject to being closed , and the overdrawn balance reported to a collection agency.
It is important to note that Arthur State Bank is under no obligation to pay overdrafts and may revoke this service at any time.