Overdraft Protection

Ever write a check for more than you have in your checking account? It happens to the best of us. That's why we offer our customers savings overdraft protection. Protect yourself from moments like these in one of two ways:

  • Draws from your Simsbury Bank personal savings account in multiples of $50
  • Pulls from an established overdraft line of credit at Simsbury Bank

ELECTRONIC AUTOMATIC OVERDRAFT DEPOSIT TRANSFER AGREEMENT

1. Customer Name:

2. Fill in Last Four Digits of your accounts:

3. By checking the box below I am (we are) making the following declarations:

  • I (we) authorize the Bank to transfer funds from Debit Account 1 in an amount sufficient to cover overdrafts when my balance in Account 2 falls below $0.00.

  • I (we) agree that the amount transferred will be in multiples of $50.00.

  • I (we) authorize Simsbury Bank to charge Account 1 based on the terms of my checking account.

  • I (we) agree to maintain sufficient balances in the Debit Account 1 to cover authorized transfers and acknowledge that the Bank may cancel this authorization at any time and without notice if the balance of Account 1 is insufficient to cover the authorized transfers and may exercise its rights and remedies under applicable laws and regulations governing savings and checking accounts which can include returning any checks unpaid and closing both savings and checking accounts.

  • This agreement will take effect within two (2) business days of the Bank's receipt of this agreement.

  • I (we) agree to abide by all rules, regulations and all amendments of the Bank governing checking and savings accounts as stated in the account agreements and signature cards. The Bank reserves the right to require seven (7) days' notice, in writing from me (us) of an intended withdrawal from the above referenced savings account.

  • Under Federal Law, only six (6) transfers from a savings account per statement period are allowed and that excess transfers will result in excess transaction fees (refer to separate "Requirements and Fees" schedule), and can result in termination of this Agreement and possible closing of my (our) savings account.

  • The signature of only one (1) primary owner is necessary to enter into this Agreement.

  • The Bank or any one of the account owners may cancel this Agreement upon written or e-mail notice to the other party clearly stating the intent to cancel and the date. Customers may write: Simsbury Bank Operations Department, P.O. Box 248, Simsbury, CT 06070 or email: sbops@simsburybank.com

*

4. Request Date:

5. Customer Email:

Simsbury Bank

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