Overdraft Coverage Options: Account Protection

LCNB National Bank understands that unexpected overdrafts occur from time to time – Overdraft Coverage can help.

 

Overdraft Coverage Options

The choice is yours. Consider these ways to cover overdrafts:

Service Cost
Savings Account Sweep $5.00 daily sweep transfer fee
Overdraft Protection Line of Credit1, 2 Subject to fees + interest
Account Protection Extended or Standard Coverage $25.00 NSF Paid Item Fee per item presented*
1Call us at (800) 344.2265, send us a secure message through eBanking (mobile/online) or come by a branch to sign up or appy for these services; 2Subject to credit approval.
*Per item presented means each time an item is presented, including re-presentment

OVERDRAFT COVERAGE applies to all transactions and may help prevent overdrafts by setting up a Savings Account Sweep or Overdraft Protection Line of Credit (LOC) that you have at LCNB National Bank for a fee or finance charge. Please note that accounts with an Overdraft Protection LOC are not eligible for the Account Protection.

Account Protection allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. If you have exhausted your savings account sweep, Account Protection is still available as a secondary coverage. Please review What Else You Should Know for other important information.
Transactions Covered with Account Protection Standard Coverage
(No action required)		 Extended Coverage
(Your consent required on consumer accounts)*
Checks X X
ACH - Automatic Debits X X
Recurring Debit Card Transactions X X
Online Bill Pay Items X X
eBanking (mobile/online) Transactions X X
Telephone Banking X X
In branch Transactions X X
ATM Transations
X*
Everyday Debit Card Transactions
X*
If you would like to select Extended Coverage for future transactions, call us at (800) 344.2265, visit any branch, complete a consent form by clicking the link below and mail it to us at P.O. Box 59 Lebanon, OH 45036, or email us at overdraftservice@lcnb.com.
 

*If you choose Extended coverage on your consumer account, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard coverage. If you already have Account Protection Extended coverage, it is not necessary to request it again. Business accounts automatically have Extended coverage.

You may discontinue Account Protection at any time by contacting us at (800) 344-2265 or sending us a secure message through eBanking (mobile/online).


 

WHAT ELSE YOU SHOULD KNOW
  • A Savings Account Sweep or Overdraft Protection Line of Credit may be less expensive than an overdraft. A single larger overdraft will result in one fee, instead of multiple smaller overdrafts. Use our eBanking (mobile/online) and telephone services to track your balance. For financial education resources, please visit lcnb.com/learn.
  • The $25.00 NSF Paid Item Fee that is charged if you overdraw your account is the same fee amount that is charged if an item is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate NSF Paid Item Fee or an NSF Returned Item Fee of $25.00. All fees and charges will be included as part of the Account Protection limit amount. Your account may become overdrawn more than the Account Protection limit amount because of a fee.
  • For consumer accounts, there is a limit of six (6) NSF Paid Item Fees ($150.00) per day that we will charge you for overdrawing your account. We will not charge your consumer account an NSF Paid Item Fee if an item overdraws your account by $10.00 or less and we will not charge an NSF Paid Item Fee if your balance is negative $10.00 or less. These exceptions do not apply to business accounts.
  • Recipients of federal or state benefits payments who do not wish us to deduct the amount overdrawn and the NSF Paid Item Fee from funds that you deposit or that are deposited into your account may call us at (800) 344-2265 to discontinue Account Protection.
  • If an item is returned because the Available Balance (as defined below) in your account is not sufficient to cover the item and the item is presented for payment again, LCNB National Bank (“We”) will/may charge an NSF Returned Item Fee each time we return the item because it exceeds the Available Balance in your account. Because we may charge an NSF Returned Item Fee each time an item is presented, we may charge you more than one fee for any given item as a result of a returned item and re-presentment of the item. When we charge an NSF Returned Item Fee, the charge reduces the Available Balance in your account and may put your account into (or further into) overdraft. If, on re-presentment of the item, the Available Balance in your account is sufficient to cover the item we may pay the item, and, if payment causes an overdraft, charge an NSF Paid Item Fee. We may use the terms “item” and “transaction” interchangeably.
  • Posting order for purposes of determining overdrafts: Our general policy is to post items throughout the day and to post ACH credits before debits. ATM /debit card transactions, on us over the counter checks and all other automatic items (ACH, AFT) post from lowest to highest dollar amount, while paper checks are posted in serial number order; however, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies. Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of NSF Paid Item Fees or NSF Returned Item Fees assessed.
  • Account Protection is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Terms and Conditions of your account. The total (negative) balance, including all fees and charges, is due and payable upon demand.
  • We may be obligated to pay some debit card transactions that are not authorized through the payment system but which we are required to pay due to the payment system rules, and as a result you may incur fees if such transactions overdraw your account. However, we will not authorize debit card or ATM transactions unless your account’s Available Balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any fee(s).
  • Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring NSF Paid Item Fees for transactions that we would otherwise be required to pay without assessing an NSF Paid Item Fee. However, this would allow us to authorize transactions up to the amount of your Account Protection limit. If you consent to Extended coverage on your consumer account, it will remain on your account until it is otherwise withdrawn. 
 
Understanding your Available Balance: Your account has two kinds of balances: the Actual Balance and the Available Balance.
  • We authorize and pay transactions using the Available Balance.
  • Your Actual Balance reflects the full amount of all deposits to your account as well as payment transactions that have been posted to your account. It does not reflect checks you have written and are still outstanding or transactions that have been authorized but are still pending.
  • Your Available Balance is the amount available to you to use for purchases, withdrawals, or to cover transactions. The Available Balance is your Actual Balance, less any holds due to pending debit card transactions and holds on deposited funds.
  • The balance used for authorizing checks, ACH items, and recurring debit card transactions is your Available Balance plus the amount of the Account Protection limit.
  • The balance used for authorizing ATM and everyday debit card transactions on accounts with Standard coverage is your Available Balance but does NOT include the Account Protection limit.
  • The balance used for authorizing ATM and everyday debit card transactions on accounts with Extended coverage is your Available Balance and includes the Account Protection limit.
  • Because your Available Balance reflects pending transactions and debit holds, your balance may appear to cover a transaction but later upon settlement it may not be sufficient to cover such transaction. In such cases, the transaction may further overdraw your account and be subject to additional overdraft fees. You should assume that any item which would overdraw your account based on your Available Balance may create an overdraft. Note that we may place a hold on deposited funds in accordance with our Terms and Conditions of Your Account, which will reduce the amount in your Available Balance.
  • Please be aware that the Account Protection amount is not included in your Available Balance provided through eBanking (mobile/online) or LCNB National Bank’s ATMs.
  • We will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within four business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends, the funds will be added to the Available Balance in your account. If your account is overdrawn after the held funds are added to the Available Balance and the transaction is posted to the Available Balance, an NSF Paid Item Fee may be assessed.
  • Except as described herein, we will not pay items if the Available Balance in your account (including the Account Protection limit, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).


Understanding Account Protection Limits
  • New consumer and business checking accounts may receive a $100.00 Introductory Account Protection limit at account opening that will be increased to $600.00 after 30 days in good standing for consumer accounts or to $1,000.00 after 60 days in good standing for business accounts.
  • Account Protection may be reduced if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within 32 days for a minimum of one business day. You must bring your account balance positive for at least one business day to have the full Account Protection limit.

If you have any questions about Overdraft Coverage or Account Protection, please call us at (800) 344.2265 or visit a branch.