What You Need To Know about Overdrafts and Overdraft Fees

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:

  1. We have standard overdraft practices ("Overdraft Privilege") that come with your account.
  2. We also offer overdraft protection plans, such as a link to a savings account or a personal line of credit for qualified customers, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

We do authorize and will continue to pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • 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 Hampden Bank pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $32.00 each time we pay an overdraft
  • There is a maximum of 5 fees per day we can charge you for overdrawing your account

What if I want Hampden 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 413-736-1812 or
1-800-888-8319 or visit you local branch office.

Agawam · Indian Orchard · Longmeadow · Springfield · West Springfield · Wilbraham · 800-887-8319 · 413-736-1812  © 2012 Hampden Bank. All Rights Reserved.