Having insufficient funds in your account can put you at risk for bouncing checks or having
your ATM / Debit Card transactions denied at a gas station or store. It can mean embarrassing
phone calls and unwanted fees charged by vendors. MVB Bank has several tools and
tips for making smart decisions about managing your overdrafts.
Overdraft Shield / Overdraft Shield Plus
We understand that mistakes happen. When they do, we strive to pay your overdrafts on the following
types of transactions:
Overdraft Shield is a discretionary, non-contractual courtesy, where we strive to pay your overdrawn items and charge our standard NSF/OD fee of $36.00 for each item overdrawn. This service is a discretionary courtesy and may be withdrawn at any time. For example, we typically do not pay
overdrafts if your account is not in good standing, or if you are not making regular deposits, or you have excessive numbers of overdrafts. Payment of your overdraft item is NOT guaranteed, and the bank may require payment of overdrawn balances immediately or on demand. You have the right to request that your accounts be excluded from this service at any time.
Overdraft Shield Plus
For consumer accounts, our Overdraft Shield Plus may also be extended to cover the following types of transactions, if you inform us after you have received a special notice required by Regulation E.
There are other options to cover overdrafts which could save you money. Overdraft lines of credit or other overdraft protection services will remain unchanged and in the event of an overdraft will be accessed for coverage before the discretionary overdraft service. One option is to transfer money from other accounts by linking your checking account to a savings account or other checking account. Another option is a personal line of credit. The APR and fees vary based on your credit history. In the event you have an overdraft, money will be transferred from your linked account and/or line of credit before the Overdraft Shield/Overdraft Shield Plus discretionary overdraft service would apply.
Utilize the tips below for managing your accounts wisely.