Overdraft Services Form
What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:
- We have standard overdraft services that come with your account.
- We also offer overdraft protection services, such as a link to a savings account, which may be less expensive than our standard overdraft services. To learn more, ask us about these plans.
This notice explains our standard overdraft services.
What are the standard overdraft services that come with my account?
We do authorize and pay overdrafts* for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
After August 15, 2010 we will not authorize and pay overdrafts for the following types of transactions unless you authorize us to (see below):
- 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.
What fees will I be charged if Sandy Spring Bank pays my overdraft?
Under our standard overdraft services:
- We will charge you a fee of $37 each time we pay an overdraft.
- Also, if your account is overdrawn for 7 or more consecutive calendar days, we will charge an additional $5 per business day.
- The maximum number of fees we will charge in one day is 5 (effective March 2, 2015).
- When we determine the your account is overdrawn by a total amount less than $5 after we finish processing for that day, we will not charge Overdraft Item Fees (effective June 1, 2010).
What if I want Sandy Spring Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions:
- Complete the form below or call 800-399-5919.
For more info on this program visit us at https://www.sandyspringbank.com/optin