All FAQs

Overdrafts & Alternatives

  • At our discretion, we authorize and pay overdrafts on checks, automatic bill payments, and other transactions made using your checking account number, such as ACH direct debits. In these cases, a fee will be charged.
  • If an item is not paid, it will be returned and a fee will be charged.
  • If you have elected to "Opt-In," we will also authorize and pay overdrafts on ATM and everyday debit card transactions at our discretion and a fee will be charged.
  • Regardless of your choice to "Opt-In," there is no guarantee that we will cover an item that overdraws your account. We may deny payment of an item that overdraws your account at any time without prior notice.
  • If you have selected one of our overdraft alternatives (Overdraft Protection Transfer or Ready Cash Reserve), see our education topic “Overdraft Alternatives” for details.

As soon as possible, make a deposit large enough to cover how much you are overdrawn, the fees associated with your overdraft, and any outstanding payments that have not cleared your account yet.

  • A $29.00 fee is charged for each transaction we decide to pay. We do not charge this fee if the transaction amount is $5.00 or less.
  • A $29.00 fee is charged for each item that we decide not to pay and is returned.
  • The maximum fee we will charge your account for overdrafts and returned items on any business day is $125.00.
  • A $0.50 fee is charged for a denied ATM transaction at a machine we do not own unless your account is covered under the MoneyPass® Network of ATMs.
  • Know your balance and pending transactions. Use a check or debit card register. Include fees in your item totals. Balance your account regularly.
  • We offer additional services to help you better manage your account: Online Banking and e.Statements, a mobile banking app for iPhone® and AndroidTM users, account alerts via push notification, email or text that will notify you when your balance reaches an amount determined by you, and educational resources on our website. Message and data rates charged by your mobile phone carrier may apply.
  • We also offer overdraft alternatives, such as linking to a savings account (Overdraft Protection Transfer) or getting a line of credit (Ready Cash Reserve). For details, see our education topic “Overdraft Alternatives”.

We do authorize and pay overdrafts for the following types of transactions based on the length of time your account has been open and the activity in and your usage of the account:

  • Checks and other transactions made using your checking account number such as ACH direct debits.
  • Automatic bill payments

We do not authorize and pay overdraft for the following types of transactions unless you ask us to:

  • ATM transactions
  • Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

If you want us to authorize and pay overdrafts on everyday debit card and ATM transactions, log on to your account through Online Banking, click the "Overdraft Opt In" button, and follow the instructions.

You may instruct us to never pay any item that would overdraw your account. Opting out of all overdrafts may still result in returned item fees being assessed. To opt out of all overdrafts, contact any banking center, call (877) 712-2265, or email us at ODOptOut@academybank.com.

The day's transactions are processed at night. We will post deposits and other credits to your account before checks/debits/withdrawals. See our most recent Deposit Account Agreement for our posting order.

When you use your debit card to make a purchase or an ATM withdrawal, the merchant/ATM owner may request an authorization from us. If approved, we reduce your Current Balance by the authorized amount through a memo posted debit to your account. In some cases, the authorization request amount may not match the actual final transaction amount. For example, a restaurant may add an amount to the bill for an expected gratuity which may or may not be reflected in the final settlement.

Generally, this memo posted debit remains on your account until we receive a final settlement request (instructions from the merchant for us to deduct the exact amount of your final purchase from your account) or the expiration of 3 business days, whichever occurs first.

Exception: If you use your PIN when you pay for gas at the pump, the merchant must send us the final settlement request within two (2) hours.

A "final settlement" request follows after the debit card authorization request and completes the transaction. While the majority of transactions settle within one or two business days, the actual timing rests with the merchant. Even if the final settlement is not received within the three business days and the memo posted debit authorization is removed and the balance restored, the final settlement could still be received beyond the three business days and result in a balance reduction for the final transaction settlement amount.

  • We may decide to no longer pay items, which means that items will be returned. Fees associated with those returned items will be charged.
  • It may lead to suspension of your account and may damage your credit.
  • When your account becomes overdrawn, the bank will transfer funds from your linked account in $100.00 increments sufficient to cover the items, as long as the funds are available.
  • Any account receiving overdraft protection transfers will only be charged one transfer fee of $7.00 per day, regardless of the number of items causing the overdraft.
  • If the balance in the linked account is not sufficient to cover the items, all available funds will be transferred, but the $7.00 fee will not be charged. Instead, you will be charged overdraft or returned items fees for any remaining items that cannot be covered by the transfer.
  • Certain accounts have transaction limitations. Please speak to a representative about options to best suit your needs.
  • When your account becomes overdrawn, the bank will transfer funds from your linked account in $100.00 increments sufficient to cover the items, as long as the funds are available.
  • Any account receiving overdraft protection transfers will only be charged one transfer fee of $7.00 per day, regardless of the number of items causing the overdraft.
  • If the balance in the linked account is not sufficient to cover the items, all available funds will be transferred, but the $7.00 fee will not be charged. Instead, you will be charged overdraft or returned items fees for any remaining items that cannot be covered by the transfer.
  • Certain accounts have transaction limitations. Please speak to a representative about options to best suit your needs.