An overdraft occurs when you do not have funds available in your account to cover a transaction and the transaction is processed anyway creating a negative balance in your account. Reconciling your account, the act of tracking your withdrawals and deposits, on a daily basis can help you better manage your funds and keep your budgeting more organized. To be prepared for the unexpected, it’s important to understand how overdraft practices work and to know that NBT Bank offers solutions to help you minimize the impact of an overdraft on your account.
Standard Overdraft Practices
NBT Bank has Standard Overdraft Practices that come with each account. We cover overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.
Generally, we do authorize and pay overdrafts on the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
We do not authorize and pay overdrafts on the following types of transactions unless you ask us to:
- ATM transactions
- Everyday debit card transactions
If you do not provide the authorization, the transactions will be declined.
If you would like to opt-in and authorize us to pay overdrafts on ATM and everyday debit card transactions, please contact us at 1-800-628-2265 or by visiting your local NBT Bank office. You can also opt-in by completing our Opt-In Form and mailing it to the bank at:
NBT Bank Customer Service
P.O. Box 351
Norwich, NY 13815