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Overdraft Coverage Options

 

There are several ways to cover overdrafts on your account. 

Overdraft Protection 

Overdraft Protection services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account you may have at First National Bank of Louisiana for a fee or finance charge. 
 
Overdraft Protection Sweep Service
  • Link to another deposit account you have at First National Bank of Louisiana
  • No fee
Overdraft Protection Line of Credit
  • Subject to fees + interest
  • Overdraft lines of credit are subject to credit approval
To sign up for Overdraft Protection services, call us at (337) 783-4014, email us, or come by a branch.
 

Overdraft Privilege

Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Even if you have overdraft protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted.
  • Standard protection covers checks, ACH, in-person withdrawals, bill pay and internet or telephone banking transactions. 
  • To extend your Overdraft Privilege to ATM and everyday debit card transactions, click here to complete the overdraft authorization form. Additional coverage details below. 
  • A $23 overdraft paid fee per item applies to all overdraft items.
 Transactions Covered with
Overdraft Privilege
 Standard Coverage 
(No action required)
 Extended Coverage
(Your consent required
on consumer accounts) *
Checks Yes Yes
ACH - Automatic Debits Yes Yes
Recurring Debit Card Payments Yes Yes
Online Bill Pay Items Yes Yes
Internet Banking Transfers Yes Yes
Telephone Banking Yes Yes
Teller Window Transactions Yes Yes
ATM Withdrawals  No Yes*
Everyday Debit Card Transactions No Yes*
If you would like to select Extended Coverage for future transactions:
*If you choose Extended Coverage on your consumer account, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Extended Overdraft Privilege coverage, it is not necessary to request it again. Business accounts automatically have Extended Coverage.
 
You can discontinue the Overdraft Privilege in its entirety by contacting us at (337) 783-4014 or sending us an email at custserv@fnb-la.com.
 

What else you should know

  • A link to another account or a line of credit is a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our mobile banking, Internet banking, and telephone banking services to keep track of your balance.
  • The $23 Overdraft Paid Item Fee is the same fee amount that is charged if a check is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft Paid Item Fee or a NSF Return Item Fee of $23. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn in excess of the Overdraft Privilege limit amount as a result of a fee.
  • We will not charge an Overdraft Paid Item Fee if a consumer account is overdrawn by $10 or less. These exceptions do not apply to business accounts.
  • We generally post items in the following order: 1) Credits, 2) Internet Banking transfers (low to high by dollar amount), 3) debit card transactions (low to high by dollar amount), 4) ATM withdrawals (low to high by dollar amount), 5) ACH (low to high by dollar amount), 6) Checks (low to high by dollar amount); however, exceptions will occur.  Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of Overdraft Paid Item Fees or NSF Return Item Fees assessed.
  • Although under payment system rules, First National Bank of Louisiana may be obligated to pay some unauthorized debit card transactions, First National Bank of Louisiana will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions and any fee(s).
  • Giving us your consent to pay every day debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring Overdraft Paid Item Fees for transactions that we would otherwise be required to pay without assessing an Overdraft Paid Item Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may also help you avoid overdrafts in excess of your available funds that could result in restriction of your debit card. If you consent to Extended Coverage on your consumer account, it will remain on your account until you otherwise withdraw it.
  • First National Bank of Louisiana authorizes and pays transactions using the available balance in your account. First National Bank of Louisiana may place a hold on deposited funds in accordance with our Deposit Account Agreement and Disclosure, which may reduce the amount in your available balance.The available balance for checks, ACH items, and recurring debit card transactions is comprised of the ledger available balance, less any holds on deposited funds and any debit card holds, plus the amount of the Overdraft Privilege limit and any available overdraft protection. The available balance for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance, less any holds on deposited funds and any debit card holds, plus any available overdraft protection, but does NOT include the Overdraft Privilege Limit. For accounts with Extended Coverage, the Overdraft Privilege Limit is included in the available balance for authorizing ATM and everyday debit card transactions.
  • Please be aware that the Overdraft Privilege amount is not included in your balance provided through Internet Banking, mobile banking or First National Bank's ATMs. 
  • FNB may place a hold on your account for any authorized debit card transaction until the transaction settles (usually within three business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Overdraft Paid Item Fee may be assessed.
  • Except as described herein, First National Bank of Louisiana will not pay items if your account does not contain available funds (including the Overdraft Privilege limit) to cover the item(s) and the amount of any fee(s).
  • FNB may restrict your debit card use if you incur overdrafts in excess of the available funds in your account, including any Overdraft Privilege limit (as described herein). Debit cards on your account will remain suspended until you make sufficient deposits so that your available balance, taking into account any Overdraft Privilege limit, is positive and then you contact us.
  • FNB may also suspend your debit card if your account is overdrawn more than thirty-two (32) consecutive calendar days. Debit cards on your account will remain suspended until you make sufficient deposits so that your account balance is positive.
  • FNB may also suspend your debit card if we are unable to contact you due to an incorrect mailing address or Phone Number(s). You must contact us with your correct mailing address and/or Phone Number(s) to have your debit card reinstated.
  • If you use your debit card for recurring payments, e.g., utilities, and your debit card is ever suspended, these transactions will be declined or returned to the payee(s). You will need to make other arrangements to make these payments to the payee(s).
  • An Overdraft Privilege limit of $100 is available for eligible Personal Checking accounts the following day after account opening.
  • Overdraft Privilege limits of up to $700 are available for eligible Personal Checking accounts opened at least 35 days in good standing and up to $1000 for eligible Business Checking accounts opened at least 60 days in good standing.
  • Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
  • Overdraft Privilege may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within 32 days for a minimum of one business day. You must bring your account balance positive for at least one business day to have Overdraft Privilege reinstated.
  • Depositor will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account Agreement and Disclosure. The total (negative) balance, including all fees and charges, is due and payable upon demand.
If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at (337) 783-4014 or visit any branch.
 
 
 
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