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Overdraft Privilege

Everyone makes mistakes. At Texas Leadership Bank, our goal is to have your back when you make one. We have multiple methods to protect you if you accidentally overdraft on your checking account.


If you have a sufficient balance in your savings, your account can be set up to have those funds cover the overdraft. We might also cover the funds for you with our Overdraft Privilege. But you must opt-in to have this privilege extended to everyday debit card and ATM transactions.

Summary
  • Prevent denied purchases
  • Avoid additional merchant fees or credit dings
  • Link your checking account to your savings account (sweep transfer) -
  • This is an automatic intra-bank transfer covers the overdraft, there is a $5.00 fee per sweep transfer occurrence
  • Overdraft Protection automatic coverage -
  • We may automatically cover your overdrafts on checks, automatic electronic payments, and recurring debit payments
  • Customer must opt-in for Overdraft Protection to extend to one-time debit card purchases and ATM transactions
  • $29.50 fee for each overdraft item, not to exceed 5 overdraft item charges per day on consumer accounts.
Overdraft Protection Policy

It is the policy of our Bank to comply with applicable laws and regulations, and to conduct business in accordance with applicable safety and soundness standards.


A non sufficient funds (negative) balance may result from:

  • The payment of checks, electronic funds transfers, or other withdrawal request
  • Payments authorized by you
  • The return, unpaid, items deposited by you
  • The imposition of bank service charges
  • The deposit of items which according to the bank's Funds Availability Policy, are treated as not yet "available"

We are not obligated to pay any item presented for payment if your account does not contain sufficient collected funds.


Rather than automatically returning, unpaid, any non-sufficient funds items that you may have, if your eligible account has been open for at least thirty (30) days and thereafter you maintain your account in good standing, which includes at least:

  • Continuing to make deposits consistent with your past practices,
  • You are not in default on any loan obligation to Texas Leadership Bank
  • You keep your account at a positive balance
  • Your account is not the subject of any legal or administrative order or levy

We will consider, as a discretionary courtesy or service and not a right or obligation, approving your reasonable overdrafts. This discretionary service will generally be limited to:

  • $350.00 overdraft (negative) balance for Free Checking accounts
  • $700.00 overdraft (negative) balance for Leadership Checking, Double Nickel Checking, Business Checking, Free Business Checking, or Free Small Business Checking
  • $1000.00 overdraft (negative) balance for Small Business Checking

Of course, any and all bank fees and charges, including without limitation our non-sufficient funds/overdraft fee of $29.50 per item, (as set forth in our fee schedules) will be included in this limit. You are required to bring your account back to a positive balance within 30 days.


We may refuse to pay an overdraft for you at any time, even though your account is in good standing and even though we may have previously paid overdrafts for you.


You will be notified by mail of any non-sufficient funds item paid or returned that you may have; however, we have no obligation to notify you before we pay or return any item. The amount of any overdraft plus our Non-Sufficient Funds and /or Overdraft (NSF/OD) Charge(s) that you owe us shall be jointly and severally liable for such overdrafts plus our Non-Sufficient Funds and/or Overdraft (NSF/OD) Charge(s).


Limitations: Overdraft Protection does not constitute an actual or implied agreement between you and the bank. Nor does it constitute an actual or implied obligation of or by the bank. This service represents a purely discretionary courtesy or privilege that the bank may provide to you from time to time and which may be withdrawn or withheld by the bank at any time without prior notice or reason or cause.


You have the option to withdraw from the Overdraft Protection Service at any time.

Overdraft Privilege