Overdraft Protection

Overdraft protection transfers funds from your existing Greenville Savings Bank account to cover the amount of a check(s) or an electronic funds transfer presented for payment that exceeds the checking account balance. Overdraft protection accounts used for automatic transfers can be a statement savings account, another checking account, or a line of credit (subject to credit approval).*

What is overdraft protection?

Overdraft protection is an option we offer that protects your bank account from check, ACH transactions, or electronic transfers, that cause the account’s balance to fall below zero, triggering an overdraft fee or a non-sufficient funds (NSF) fee. With overdraft protection, we will cover the shortfall and charge a service fee, known as an overdraft fee or “courtesy fee,” to ensure the transaction is processed successfully.

NSF (or insufficient funds) transactions are not covered by us without having overdraft protection and can be expensive. Transactions made with a check and automated clearing house (ACH) withdrawals are returned unpaid. Most banks will charge hefty overdraft and NSF fees (averaging $30 to $40, on average) for accounts that do not have sufficient funds.

*Transaction limitations apply.