An overdraft occurs when an account does not have sufficient funds in its “Available Balance” to cover a transaction.

Overdraft Privilege

Overdraft Privilege allows you to overdraw your account to help prevent bounced checks. 

  • Customers can have both Overdraft Protection and Privilege
  • Overdraft Privilege can be used if protection service has been exhausted
  • Overdraft Privilege is subject to account eligibility requirements
  • Covers transactions certain transaction types; Checks, ACH - Automatic Debits, & Bill Pay

Example: A customer made out a check payable to his landlord for $1200 rent. The customer has $850.00 available balance and $800 ODP. The check can be cashed, putting the customer in the negative the remaining amount, plus the service charge.

Overdraft Privilege Regulation E

Overdraft Privilege Reg E is an extension on a current Overdraft Privilege.

  • Reg E requires written authorization from the customer
  • Covers all transaction types, allowing ATM and Debit Card transactions
  • Customers can enroll and unenroll at any SCB branch

Example: A customer's checking account has the Available Balance of $35. They go to get gas which will be a $52 debit card transaction. The transaction will go through overdrawing the account $17, plus the applicable overdraft charge.

Overdraft Protection

Overdraft Protection may help prevent overdrafts by moving funds from a linked account or line of credit.

  • Linked Accounts and line of credit must be held at Susquehanna Community Bank
  • The bank will automatically move available funds if account is being overdrawn
  • Overdraft protection is used before overdraft privilege is utilized
  • Customers must sign to enroll in Overdraft Protection or to remove

Example: Customer’s checking account Available Balance is $42 and the Available Balance in the linked savings account is $1,000. If they write a check for $125, this would overdraw the checking account by $83. The bank would auto transfer $83, plus the service charge, from the primary  account linked for overdraft protection.

Please note that lines of credit are subject to credit approval. All overdraft options subject to account eligibility requirements. Additional Terms and Conditions may apply.

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