Overdraft Protection FAQs


Follow these links for answers to frequently asked questions about overdraft protection:



What is overdraft protection?

Overdraft protection is a service that can help you prevent returned items due to insufficient funds in your checking account. When an item is presented against an account with insufficient funds, overdraft protection may cover that item and allow payment.

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Why does First Command Bank provide overdraft protection?

At First Command Bank, we encourage responsible financial management. But we recognize that there are times when you need some extra convenience and flexibility. Our Overdraft Program is designed to provide that convenience and flexibility in an affordable and responsible manner.

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What types of overdraft protection do you offer?

First Command Bank offers two types of overdraft protection: Overdraft Program and Coverdraft. The First Account is eligible for Coverdraft only. The Command Checking Account is eligible for the Overdraft Program or Coverdraft. The Overdraft Program provides an Approved Overdraft Limit of $250. This feature is subject to credit approval. Instead of an Approved Overdraft Limit, you may request a Coverdraft be set up from another First Command Bank Deposit account, First Command Bank VISA, or First Command Bank Line of Credit. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts.

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What's the cost for overdraft protection?

There's no cost to set up overdraft protection. Under the Overdraft Program, you will be assessed a $10.00 fee per item paid under the overdraft protection program. A fee may be imposed for covering overdraft created by check, an in-person withdrawal, ATM withdrawal, or other electronic means. Under the Coverdraft program, there is no charge for this service. Amount charged to FCB Visa card is subject to cash advance finance charges. See cardholder agreement for details. See your Depository Agreement and Disclosures booklet for further information.

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When do I have to repay the overdraft?

You have 30 days to pay back the amount owed on your overdraft limit by making a deposit into your account.

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How will I know if I have used the Overdraft Program?

A notice will automatically generate detailing the transaction(s) and the fee(s) assessed for the items paid under the Overdraft program. The notice will be mailed to the current address on file. Additionally, your statement will reflect both monthly and year-to-date totals of overdraft and insufficient funds fees charged for paid or returned items.

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How can I learn more about overdraft protection?

Please reference your Depository Agreement and Disclosures booklet for further information, and call Customer Care at 888.763.7600 if you have any questions.

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