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:

We have standard overdraft practices that come with your account.
We also offer overdraft protection plans, such as a link to a savings account or to an overdraft line of credit , 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 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 Town Bank pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of $ 29.00 each time we pay an overdraft.
Also, if your account is overdrawn longer than one day, we will charge an additional $ 5.00 per day, starting on the second and each subsequent consecutive day your account is overdrawn and continues to have a negative (overdraft) balance.
There is no limit on the total fees we will charge you for overdrawing your account on any given day.

What if I want Town 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 you may continue to electronically record your preference below or you may call (800) 433-3076, or complete the form and present it at a branch or mail it to: Town Bank, 850 W North Shore Dr, Hartland, WI 53029

NOTE: The communication you received through the mail included a six-digit mailing code printed on its face. This code will allow us to uniquely identify your opt-in preference, without using your account or other personal information.

ENTER THIS CODE ONLY for opting in or out of this overdraft service. PLEASE DO NOT ENTER YOUR ACTUAL ACCOUNT NUMBER OR ANY OTHER PIECE OF SENSITIVE INFORMATION ON THIS FORM. If you received multiple mailings, each will have its own unique code that you will need to enter separately.

Six Digit Mailing Code:

Account Type/Description (Enter a description of the account ONLY (e.g. Checking, Savings), DO NOT enter account numbers):

Mark any/all you want to limit:*
I do not want Town Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions.
I want Town Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions.

I understand that I have an ongoing right to change this consent at any time

First Name:
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Last Name:
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Zip Code:
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The safety and security of your personal information is of utmost importance to us. Please do not share any sensitive or confidential information with us via this form.