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 practices that come with your account.
  • We also offer overdraft protection, which is a link to another deposit account, which may be less costly than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices 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

We will not authorize and pay overdrafts for the following types of transactions without your consent.

  • 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 Sycamore Bank pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $31 each time we pay an overdraft
  • For consumer accounts, there is a limit of 5 Overdraft Fees ($155) per day we will charge. We will not charge an Overdraft Fee if a consumer account is overdrawn by $5 or less. These exceptions do not apply to business accounts.

What if I want Sycamore 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, call (662) 562-8201, complete the form below or print and present it at a branch or mail it to: P. O. Box 96 Senatobia, MS 38668. You can revoke your authorization for Sycamore Bank to pay these overdrafts at any time by any of the above methods. Your revocation must include both your name and your account number so that we can properly

Personal Information

  • OK Name is required
  • OK Email is required

Opt In Choice

  • I want Sycamore Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions

    OK I want Sycamore Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions is required

    If yes, Please choose if you would like to Opt In for all accounts or for specified accounts.

  • I want to opt in for:

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Specified Accounts

  • OK Account Number 1 is required
  • Optional OK Account Number 2 is required
  • Optional OK Account Number 3 is required
  • Optional OK Account Number 4 is required

E-Signature

    I/We confirm that the Internet access device(s) I/we will use to receive the related legal disclosures, agreements and online account signature forms; and I/we consent to receiving the related legal disclosures, agreements, online account signature form and the instructions electronically. I/we confirm that I/we have read and understand the information regarding the right to opt in or decline this financial institution's paying ATM or one-time debit card transactions.

    OK Yes, I/We Confirm is required
  • I/we understand that I have an ongoing right to change this consent at any time.