Because nobody’s perfect.

It’s happened to all of us: A small budget miscalculation or oversight that resulted in an unexpected shortage of funds.

Shocked woman looking at the bills in disbeliefAvoid Embarrassment

That’s why having Overdraft Privilege is smart. It covers transactions that exceed the balance in your checking account, giving you peace of mind and eliminating the inconvenience and potential embarrassment of a rejected check, check card or ATM transaction.

Avoid Fees

At First National Bank of Northfield, we do not encourage overdrafts. As always, we encourage you to manage your finances responsibly. However, we want to save you from the additional merchant fees and possible damage to your credit history that might result if a check is returned.

What is my Overdraft Privilege limit?

I have two checking accounts. Can I get Overdraft Privilege on both?

Locate your account type below and make note of the corresponding limit. If you have multiple accounts for your household, you may have a limit on all eligible accounts.

Basic Checking: $400
Regular Checking: $600
Interest Checking: $800
Business Banking Basic Checking: $1,000

Overdraft Privilege is a program that requires you to “opt-in” to obtain the service. By opting in to this service, an overdraft created by checks, ATM withdrawals, debit card transactions, and other electronic debits will be covered up to the overdraft limit available on your particular type of checking account.

An insufficient balance can result from several events, such as (1) the payment of checks, electronic funds transfers or other withdrawal requests; (2) payments authorized by you; (3) the return of unpaid items deposited by you; (4) bank service charges; (5) the deposit of items which, according to the Bank’s Funds Availability Policy, are treated as not yet available or finally paid. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds. If you maintain your account in good standing by demonstrating responsible account management, such as making regular deposits to bring your account to a positive balance at least once every thirty days, and by avoiding excessive overdrafts suggesting use of Overdraft Privilege as a continuing line of credit, and there are no legal orders, levies or liens against your account we may approve your overdrafts within your current available Overdraft Privilege limit as a contractual courtesy. In the normal course of business, we generally pay electronic transactions first and then checks beginning with smallest dollar amount, per bank’s policy. We reserve the right to change the order of payment without notice to you if we suspect fraud or possible illegal activity affecting your account. Also, please be aware that the order of item payment may create multiple overdrafts during a single banking day for which you will be charged our standard NSF fee of $31 for each overdraft (paid or returned). You may opt out of the privilege at any time, but you are responsible for any overdrawn balances at the time of opting out. Normally, we will not approve an overdraft for you in excess of the predetermined amount assigned to your account type. So as not to exceed your limit, please note that the amount of the overdraft plus the bank’s standard NSF fee of $31 (per item) will be deducted from the overdraft limit. We may refuse to pay any overdraft for you at any time even though we may have previously paid overdrafts for you. You will be notified by mail of any non-sufficient funds items paid or returned that you may have; however, we have no obligation to notify you before we pay or return any item. The amount of any overdraft plus our standard NSF fee of $31 that you owe us shall be due and payable upon demand. If there is an overdraft paid by us on an account with more than one owner on the signature card, each owner and agent, if applicable, drawing/presenting the item creating the overdraft, shall be jointly and severally liable for such overdraft plus our standard NSF fee of $31.

Overdraft Privilege should not be viewed as an encouragement to overdraw your account. As always, we encourage you to manage your finances responsible. If you would like to have this service removed from your account, please call (507) 645-5656.

Please note that your Overdraft Privilege limit may be reflected in your balance provided by a teller, but will not be reflected at an ATM or through Online Banking or FirstCall.

In addition, based upon our review of your account management, if we determine you may be using Overdraft Privilege as a regular line of credit by creating excessive overdrafts, we may suspend the privilege without prior notice.