A Special Service for Checking
At times, unanticipated expenses or unforeseen problems can leave you with too little cash in your checking account. Having a check returned due to insufficient funds can be a costly, inconvenient and potentially embarrassing experience.
At Alpine Bank, we don’t promote overdrafts; we encourage you to manage your finances responsibly. However, our Overdraft Privilege program is here for you when you need it. To learn more about overdraft prevention, please visit this webpage. We also want to help you avoid the possibility of additional merchant fees and damage to your credit history, both of which might result if you have a check returned for insufficient funds.
That’s why we provide “Overdraft Privilege,” a special overdraft service for Alpine Bank’s checking accounts.
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Overdraft Privilege FAQ
What is Overdraft Privilege?
Standard Overdraft Privilege, titled 'Overdraft Privilege' in this disclosure unless otherwise specified, is an overdraft service requiring no action on your part. Your Overdraft Privilege limit amount is automatically assigned according to the account type.
Your Overdraft Privilege limit may be available for checks and other transactions made using your checking account number, automatic bill payments, recurring debit card transactions, or any other debit transactions on your account. Additionally, for consumer accounts, Alpine Bank offers, at your request, an Enhanced Overdraft Privilege service in which we may authorize and pay ATM transfers or withdrawals or everyday debit card transactions using your available Overdraft Privilege limit. Please note we trust how the merchant codes the transaction to determine whether it's "everyday" or "recurring" transaction.
Business Accounts are automatically enrolled in the Enhanced Overdraft Privilege feature.
The Enhanced Overdraft Privilege feature will only be effective if the accounts Standard Overdraft Privilege is active.
Please see your deposit accounts Terms and Conditions- Understanding and Avoiding Overdrafts and Non-sufficient (NSF) fees for additional detailed information.
If this is a new account with Alpine Bank, the use of the Overdraft Privilege service may be available to you on the first business day, following a 30-calendar-day waiting period, provided your account is in good standing, except in cases where the 30th calendar day falls on a federal Holiday or weekend, in which case your ODP may be available the 2nd business day after the 30-calendar-day waiting period. Please refer to the section titled Overdraft Privilege Customer Terms and Conditions for specific details including what we consider an account in good standing.
If you would like to have this service removed from your account, at any time, please visit any one of our locations or you can call us at 1-800-551-6098.
How does Overdraft Privilege work?
As long as you maintain your account in good standing Alpine Bank may approve your overdrafts within your currently available Overdraft Privilege limit (your available balance plus the amounts listed below). Whether your overdraft item will be paid is discretionary and we reserve the right not to pay. We typically do not pay overdrafts if your account is not in good standing. Please see the section titled Overdraft Privilege Customer Terms and Conditions for all the terms and conditions of the Overdraft Privilege service, including what we consider an account in good standing. Please note that the amount of the overdraft item plus our standard non-sufficient funds (NSF) paid item fee will be deducted from your currently available overdraft limit. No interest will be charged on the insufficient balance of your account.
How do I know when I use the overdraft limit?
You will receive an Overdraft Privilege notice each time items are paid using the available Overdraft Privilege, including any non-sufficient fund (NSF) paid item fees. When balancing your checkbook, you will need to subtract the amount of each overdraft item, plus our standard NSF paid item fee for each overdraft item. Our standard non-sufficient (NSF) paid item fee is $15.00 for items between $3.01 and $15.00 and $38.00 for items exceeding $15.00 when the transaction results in an account that has at least a $15.01 overdrawn balance. For our consumer accounts, we may charge up to $200.00 in non-sufficient fund (NSF) paid item fees per account, per day. For our business accounts, there is no maximum daily limit for non-sufficient (NSF) paid item fees.
What if I go beyond my Overdraft Privilege limit?
Overdraft items over your currently available Overdraft Privilege limit may result in those items being returned to the payee. Be aware that such an item or payment may be presented multiple times and that we do not monitor or control the number of times a transaction is presented for payment. A notice of non-sufficient funds will be sent to the most current address we have on file, notifying you of our action(s). If we do not cover the transaction and return the item as unpaid, and regardless of whether your account is overdrawn, Alpine Bank will not assess the Non-sufficient returned item fee.
What is my Overdraft Privilege limit? I have two checking accounts. Can I get Overdraft Privilege on both?
Locate your account type on the following chart and make note of the corresponding limit. If you have multiple accounts for your household, it may be possible to have a limit on each eligible account.
|
Account |
Cost |
|
Liberty Checking |
$800 |
|
Elite Checking |
$1,400 |
|
Golden Edge Checking |
$1,400 |
|
Pioneer Club Checking |
$1,400 |
|
Special Personal Checking |
$1,400 |
|
Business Checking |
$1,400 |
|
Business Checking with Interest |
$1,400 |
|
Business Checking with Cash Charges |
$1,400 |
|
Business Int. 1/2 Service Charge |
$1,400 |
|
Business Checking 1/2 Service Charge |
$1,400 |
|
Business IC Checking |
$1,400 |
|
Business Apex Checking |
$1,400 |
|
Business Money Fraud |
$1,400 |
|
Money Fund |
$1,400 |
|
Money Market Plus |
$1,400 |
|
Saver's Choice Money Market |
$1,400 |
|
Investor's Choice Money Market |
$1,400 |
|
Apex Money Market |
$1,400 |
|
Mountain Money Market |
$1,400 |
How quickly must I repay my Overdraft Privilege?
You should make every attempt to bring your account to a positive balance as soon as possible. However, in order to avoid the possible suspension of your Overdraft Privilege, you must bring your account to a positive end-of-day balance, for at least 1 business day, once every 30 calendar days. If you bring your account to a positive end-of-day balance within this time, your limit may be made available again the first business day after the positive balance. If you are not able to bring your account to a positive balance within 30 calendar days after the creation of the negative balance, you will receive a letter from Alpine Bank informing you of the situation and your options. If, thereafter, your account has not been brought to a positive balance, we may suspend your Overdraft Privilege and additional items may be returned.
What does my Overdraft Privilege cost?
There is no additional cost associated with this service unless you use it. If you do use it, you will be charged our standard non-sufficient funds (NSF) paid item fee for each NSF item paid by check, an in-person withdrawal, an automatic payment, an Automated Clearing House (ACH) transaction, recurring debit card payment, or any other debit transaction made using your checking account. Additionally, for our consumer accounts, if you have requested the Enhanced Overdraft Privilege service, Alpine Bank may authorize and pay ATM transfers or withdrawals and everyday debit card transaction and charge our standard NSF paid item fee for each of these items. For our consumer accounts, to help you manage your account, your monthly statement will reflect the total fees you have paid for all NSF items for the current month and for the year-to- date in accordance with Federal Regulations. Our standard non-sufficient (NSF) paid item fee is $15.00 for items between $3.01 and $15.00 and $38.00 for transactions exceeding $15.00 and that overdraw your account by at least $15.01 (meaning the transaction results in at least a negative $15.01 current balance).
What are some of the ways I can access my Overdraft Privilege limit? Will my limit be reflected in the balance I receive?
The chart below shows the different ways you can access your Overdraft Privilege limit and indicates whether or not this limit will be reflected in the balance provided. For our consumer accounts, you may also have access to the Overdraft Privilege limit for ATM transfers and withdrawals or for everyday debit card purchases, if you have elected to do so.
| Access Points | Is My Overdraft Privilege Limit Available? | Does the Balance Provided Reflect My Overdraft Privilege Limit? |
|---|---|---|
| Standard Overdraft Privilege | ||
| Teller | Yes | No |
| Writing a Check | Yes | N/A |
| Debit Card (recurring) | Yes | N/A |
| ACH Auto Debit | Yes | N/A |
| Alpine Online | Yes | No |
| Alpine Info-Line | Yes | No |
| Enhanced Overdraft Privilege | ||
| Debit Card (everyday) | Yes 3 | N/A |
| ATM Withdrawal | Yes 3 | No |
What are some other ways I can cover overdrafts at Alpine Bank?
The best way to avoid overdrafts and fees is to manage your account responsibly so it does not become overdrawn. Alpine Bank offers other solutions to help cover overdrafts in addition to Overdraft Privilege.
| Ways to Cover Overdrafts | Example of Associated Fees |
|---|---|
| Good account management | $0.00 |
| Automatic "Sweep"1 from your Alpine Bank savings or money market account | $10.00 per transfer |
| Ready Reserve Line of Credit | $10.00 Annual Fee and 18.00% APR 2 |
| Telephone Transfers | $0.00 |
| Transfer of funds from your Alpine Bank Home Equity Line of Credit | Automatic advances in $1,000.00 increments. See your local Alpine Bank for loan terms and rates. |
These costs are provided only as examples. Please contact 1-800-551-6098, or visit one of our locations to inquire about these additional options and the specific fees that may be associated with the use of the product or service.
Additionally, Alpine Bank’s Online Banking has features to help you maintain good account management such as external transfers and Low Balance Alerts via our Alpine Mobile app or online banking. Alpine Bank does not charge you a fee for using the Alpine mobile app, however, your wireless carrier's standard web access and text message rates may still apply.
What if I do not want to have Overdraft Privilege on my checking account?
If you would like to have this service removed from your account, please visit any one of our locations or you can call us at 1-800-551-6098.
Overdraft Privilege Customer Agreement Terms and Conditions
General Terms:
An insufficient balance can result from several events, including, but not limited to:
- The payment of checks, electronic funds transfers or other withdrawal requests;
- Payments authorized by you;
- The return of unpaid items deposited by you;
- Bank service charges as disclosed in your Truth in Savings disclosure and the Fee Schedule; or
- The deposit of items which, according to the bank’s Funds Availability Policy, are treated as not yet available or finally paid. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds.
Account Management and termination:
If you maintain your account in good standing, we may approve overdraft items within your currently available Overdraft Privilege limit as a non-contractual courtesy. For Overdraft Privilege availability, your account is considered to be in good standing if you demonstrate responsible account management such as:
- Making regular deposits to bring your account to a positive balance, for at least 1 business day, at least once every 30 calendar days (including the payment of all bank fees and charges);
- There are no legal orders (including bankruptcies), garnishments, levies or liens against your account and
- You have no outstanding indebtedness past due or in default to Alpine Bank on any other account relationships. If you fail to meet any of the above stated requirements, we reserve the right to terminate the Overdraft Privilege service on your account until your account is once again in good standing. In addition, based upon our review of your account management, if we determine you may be using Overdraft Privilege as a regular line of credit by creating excessive overdrafts, we may suspend the Overdraft Privilege without any prior notice.
Regardless of account standing, Alpine may/may not pay an item and if paid, we may assess a non-sufficient (NSF) paid item fee for each item in excess of $3.00 that results in an overdrawn balance of at least $15.01.
Overdraft Privilege should not be viewed as an encouragement to overdraw your account. We encourage you to manage your finances responsibly by reviewing all your account notices and periodic statements as soon as you receive them, enter all items in your check register and reconcile your account(s) regularly.
Payment of Items:
The order items post to your account is further explained in the previous subsection “Payment order of items”. In the normal course of business, our practice is to pay electronic transactions first and then checks in serial number order. We reserve the right to change the order of payment without notice to you if we suspect fraud or possible illegal activity affecting your account. Also, please be aware that the order of item payment may create multiple overdrafts during a single banking day for which you will be charged our standard NSF paid item fee for each overdraft item. You may opt out of Overdraft Privilege at any time, but you are responsible for any indebtedness owed to Alpine Bank at the time of opting out. Normally, we will not approve the payment of overdraft item(s) in excess of the predetermined, or currently available, Overdraft Privilege amount assigned to your account type. So as not to exceed your limit, when reconciling your account, please note that the amount of the overdraft item, plus the bank’s standard NSF paid item fee will be deducted from the overdraft limit. We may refuse for any reason, at our sole discretion, not to cover your overdrafts, even though we may have previously paid items for you at other times. You will be notified by mail of any non-sufficient funds items, paid or returned, that you may have; however, we have no obligation to notify you before we pay or return any item.
Please note that your Overdraft Privilege limit may be available for each item paid under the limit created by checks, teller withdrawals, automatic payments, Automated Clearing House transactions, automatic bill payments, or recurring debit card payments, or any other debit transaction made using your checking account. Also, we may authorize and pay ATM transfers or withdrawals and everyday debit card purchases using your limit, if you have authorized us to do so. The Overdraft Privilege limit will not be included in the balance provided during an inquiry.
Payment obligation:
The amount of any indebtedness owed to Alpine Bank, which may include our standard NSF paid item fees3, shall be due and payable upon demand, but if no demand is made, no later than 30 calendar days after the creation of the insufficient balance. If there is an overdraft item paid by us on an account with more than one owner on the signature card, each owner and agent, if applicable, drawing/presenting the item(s) creating the insufficient balance, shall be jointly and severally liable for such overdraft plus our standard NSF paid item fee3.
LIMITATIONS: Overdraft Privilege is a non-contractual courtesy that is available to individually/jointly owned accounts in good standing for personal or business use. Alpine Bank reserves the right to limit participation to one account per household or business and to discontinue this service without prior notice.
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1Limitations apply. Please see Truth-In-Savings disclosure for specific limitations.
2Approval subject to Alpine Bank standard underwriting requirements. Costs are provided only as examples. Please see a Personal Banking Representative for specifics of this product.
3Overdraft Privilege – Standard: Protects checks, ACH and automatic payments. Enhanced: Standard protection, plus one time debit card and ATM transactions. Please refer to product terms and conditions. Overdraft Privilege will be available to use the first business day following a 30-calendar day waiting period. As long as your account is in good standing, your current overdraft limit may be available for checks and other transactions made using your checking account number, automatic bill payments and recurring debit card transactions. For consumer accounts, at your request, the Enhanced Overdraft Privilege will cover ATM transactions and one time debit card transactions. Standard non-sufficient funds fees will still apply; $15.00 for items between $3.01 and $15.00, and $38.00 for items exceeding $15.00 when the transaction results in an account that has at least a $15.01 overdrawn balance. Please speak with a customer service representative or personal banking representative or refer to the product terms and conditions for more details.
