Overdraft Protection

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 merchants. Village Bank has several options for making smart decisions about managing your overdrafts. Let’s review some helpful tips for avoiding overdrafts.

Know Your Balance
  • If you have a joint account, designate one person as the account manager.
  • Consider direct deposit of your payroll checks and other benefit payments.
  • Record all checks, ATM transactions, debit transactions, account fees and deposits in your checkbook and keep an accurate running balance.
  • Never write a check or make a charge on your debit card for more than you have in your account.
  • Make sure deposits to your account are credited before withdrawing cash or making charges against those deposits.
  • Balance your checkbook against your bank statement every month.
  • Set up free email or text alerts to notify you when your balance falls below a certain amount.
Check Writing Basics
  • Always use a blue or black pen.
  • Never sign blank checks.
  • Be cautious of post-dating checks.
  • Destroy voided or unused checks and deposit slips.

Sometimes, life happens! In the event that you have a situation that causes you to overdraw your account unexpectedly, Village Bank has overdraft products and services that can help! Please review the descriptions below and use the handy chart to compare options.

Village Overdraft Transfer

You can designate a Village Bank backup checking or savings account to cover overdrafts. The transfer will be in increments of $100 to cover your overdraft items, plus a small transfer fee. The amount of the overdraft transfer is limited by the available balance in your designated backup account.

  • Automatically transfers funds from your backup account to cover overdrafts.
  • Prevents retailers’ returned check fees.
  • Our most economical overdraft service.
  • $10.00 transfer fee.
Village Overdraft Assurance

Our Overdraft Line of Credit automatically transfers funds, in increments of $100.00, into your checking account when needed. Village Bank charges a small transfer fee and interest is charged on the amount transferred.

  • Automatically transfers funds as needed from a line of credit to cover overdrafts.
  • Prevents retailers’ returned check fees.
  • Avoids higher overdraft fees.
  • $10.00 transfer fee.
  • Subject to credit approval.
Village Overdraft Privilege

Rather than returning your checks or electronic transactions when you have insufficient funds, Village Bank will strive to pay reasonable overdrafts for you. We only offer this service to customers who keep their accounts in good standing.

  • Village Bank will strive to pay checks and electronic transactions when your balance is insufficient to cover presented items.
  • Prevents retailers’ returned check fees.
  • Standard overdraft fee applies (up to a maximum of five (5) fees per day for consumers).
Village Overdraft Privilege Plus

Under changes made to Regulation E for consumer accounts, we cannot authorize your ATM and everyday (one-time) debit card transaction that may overdraw your account without your permission.

  • You must authorize this service.
  • Standard overdraft fee applies (up to a maximum of five (5) fees per day for consumers).
Product Comparison Chart

Click on the chart image to open enlarged .pdf version.

Overdraft Product Comparison Chart

What You Need to Know About Overdrafts and Overdraft Fees - Opt In Form (Print Version .pdf)

Questions about Overdraft Protection or any of our other services?

Our Customer Care Team can help.  Call 804.419.8919

Call or visit us today!