Overdraft Services | Independent Bank

Overdraft Services FAQs

Answers to Common Questions About Our Overdraft Services

How does the Advanced Overdraft refund process work?

By enrolling in Advanced Overdraft, you can receive refunds for up to two overdraft or return item fees per calendar month, totaling up to $68.

Are there any additional fees associated with Advanced Overdraft?

While there is a $10 monthly fee per enrolled account, the rebate does not cover other fees and service charges.

Is Advanced Overdraft available for all account types?

Advanced Overdraft is available for the ONE account, providing an extra layer of financial security.

Can I enroll multiple accounts in Advanced Overdraft?

Yes, you can enroll multiple accounts, but you will incur a $10 monthly fee for each enrolled account.

What is the statement cycle for Advanced Overdraft?

The statement cycle ends at the end of the month.

Ways to Avoid Overdrafts

Monitor

Track your withdrawals and deposits anytime with ONE Wallet digital banking.

Notifications & Alerts

Set up notifications and alerts in ONE Wallet digital banking to keep up with deposits, withdrawals, and recent transactions.

Watch For Delayed Charges

Pay special attention to delayed charges like gas, hotels, restaurant tips, and rental cars. It often takes a few days for the final amount to go through.

1 Our ONE Account and business checking options include overdraft coverage for checks and recurring payments (like ACH transactions and bill pay) when funds are insufficient. The cost is $34 per transaction and an additional fee of $6 per day after the fifth consecutive business day of the account being overdrawn. For new accounts, we offer an introductory limit of $100 for the first 30 calendar days, and after that, eligible personal accounts can access up to $600, while eligible business accounts can access up to $1,000.
2 Business accounts automatically have Extended Coverage.
3 Independent Bank Advanced Overdraft is only available for new ONE Accounts and is unavailable for Opportunity ONE Accounts and Business Checking Accounts.
4 With Overdraft Transfer Link, you can link a qualifying deposit account to another qualifying deposit account you own at Independent Bank. Should your protected account become overdrawn and funds are available in your linked account, the amount required to bring your account back to $0.00 will be transferred to your protected account. If your linked account does not have the required funds to cover the entire overdraft, all available funds in the linked account will be transferred, and a $34.00 overdraft fee will be assessed per item.