Overdraft Privilege 

We offer an Overdraft Privilege to First Bank of Boaz customers that qualify. We will automatically add this to your account if you qualify and send you information and rules that apply. Unless you opt out of this service, your checks will be honored up to $500 which is your defined limit.  This will save you the embarrassment of a returned check, and a merchant processing charge as well. Each time we pay an item we will charge you our normal overdraft fee of $22. This fee may be imposed for covering overdrafts created by check, in person withdrawals, ATM or Debit Card transactions or other electronic means. For consumer/non-commercial accounts, no more than 3 NSF fees will be charged on a daily basis. If the account is less than $10 overdrawn, no overdraft fee is charged. We reserve the right to unilaterally refuse to pay any item that is presented. 

On July 1, 2010 new Federal Reserve rules give consumers additional options regarding overdrafts using you debit card for one time transactions and ATM withdrawals.

We must offer you the ability to make decisions about Overdraft Privilege services for transactions made with your ATM or Debit Card. Under the new rules, we must first get your permission to apply these services to one time Debit Card transactions and ATM withdrawals. To grant this permission, you will need to opt-in (agree) in writing by contacting a customer service representative. If you do not opt-in (agree) in writing you will not have the availability to use the Overdraft Privilege services for one time debit card transactions and ATM withdrawals.

Overdraft protection can also be provided by setting up an automatic transfer from a savings or another checking account with us for a small transfer fee that is less than an overdraft fee.