Overdraft Privilege Disclosure - Business Accounts

Overdraft Coverage Options:

OVERDRAFT PROTECTION applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account you have at Marquette Bank for a fee. Call us at 1-888-254-9500, email us at odp@emarquettebank.com, or come by a branch to sign up for this service. Good account management is the best way to avoid overdrafts.

Checks
ACH - Automatic Debits
Recurring Debit Card Payments
Online Bill Pay Items
Internet Banking Transfers
Telephone Banking
Teller Window Transactions
ATM Transactions
Everyday Debit Card Transactions

What Else You Should Know  

• A link to another account or line of credit is less expensive than an overdraft. A single larger overdraft will result in one fee, instead of multiple smaller overdrafts. Use our mobile, internet, and telephone banking services to track your balance. For financial education resources, please visit www.mymoney.gov.

• The $35.00 Overdraft Fee that is charged if you overdraw your account is the same fee 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 Overdraft Fee or a NSF Fee of $35.00. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn more than the Overdraft Privilege limit amount because of a fee.

• For consumer accounts, there is a limit of 5 overdraft fees or $175.00 per day (5 at $35.00 each) and, if applicable, a continuous overdraft fee of $8 per business day for a total limit of $183.00 per day we can charge you for overdrawing your account on any given day. We will not charge you an Overdraft Fee if your account is overdrawn by a balance of less than $5.00. These limit 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 Overdraft Fee from funds that you deposit or that are deposited into your account may call us at 1-888-254-9500 to discontinue Overdraft Privilege.

• If an item is returned because the Ledger Balance (as defined below) in your account is not sufficient to cover the item and the item is presented for payment again, Marquette Bank (“We”; “Us”) will charge a Return Item Fee each time it returns the item because it exceeds the Ledger Balance in your account. Because we may charge a Return 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 representment of the item. When we charge a Return Item Fee, the charge reduces the Available Balance in your account and may put your account into (or further into) overdraft. If, on representment of the item, the Ledger Balance in your account is sufficient to cover the item we may pay the item, and, if payment causes an overdraft, we will charge an Overdraft Fee.

• If your account is overdrawn for 5 or more consecutive business days, we will charge a continuous overdraft fee of $8.00 for each consecutive business day the account remains overdrawn beginning with day 6 and for up to 20 business days or until you bring your account positive. For business accounts, if your account is overdrawn for more than 3 days, we will charge a continuous overdraft fee of $8.00, until the balance in the account is positive. 

• We generally post items in the following order: 1) credits, 2) ATM and debit card transactions (in the order received), 3) ACH debits are processed in the date and time received. If multiple transactions are received at the same time or grouped together and contain no time stamp, then the items will be posted to your account from largest to smallest dollar amount. 4) withdrawals and checks cashed at our teller window (as they occur), 5) checks (check 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 below) and the order in which transactions are posted may impact the total amount of Overdraft Fees or NSF Fees assessed.

• Overdraft Privilege 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 Important Information About Deposit Accounts Disclosure. 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 Overdraft Fees for transactions that we would otherwise be required to pay without assessing an Overdraft Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit. If you consent to Extended Coverage on your consumer account, it will remain on your account until it is otherwise withdrawn.

• We authorize transactions using the Available Balance.

• We pay transactions using the Ledger Balance.

• Your Ledger 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 Ledger 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 Overdraft Privilege limit and any available Overdraft Protection. 

• The balance used for authorizing ATM and everyday debit card transactions on accounts with Standard Coverage is your Available Balance plus any available Overdraft Protection but does NOT include the Overdraft Privilege limit. 

• The balance used for authorizing ATM and everyday debit card transactions on accounts with Extended Coverage is your Available Balance plus any available Overdraft Protection and includes the Overdraft Privilege 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 Deposit Account Agreement and Disclosure, which will reduce the amount in your Available Balance.

• Debit card authorizations do not impact the payment of checks, ACH items, recurring debit card transactions or the assessment of Overdraft/NSF fees. However, when the transaction settles, if the ledger balance is not sufficient to cover the transaction you may be charged an Overdraft/NSF fee(s).

• Please be aware that the Overdraft Privilege amount is not included in your available balance provided through online banking, mobile banking or Marquette Bank’s ATMs.

• We will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two 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 Overdraft Fee may be assessed.

• Except as described herein, we will not pay items if the Ledger Balance in your account (including the Overdraft Privilege limit), if applicable, is not sufficient to cover the item(s) and the amount of any fee(s).

Understanding Overdraft Privilege Limits

•  We may provide you a $100 Overdraft Privilege Limit for eligible checking accounts on the 3rd day after account opening. You will receive a letter informing you if the Overdraft Privilege limit has been increased on your account.

• If your consumer checking account remains in good standing for 35 days, this limit may be increased up to $800 or $1,500 (depending on your account type).

• If your business account remains in good standing for 60 days, this limit may be increased up to $800 or $1,500 (depending on account type).

• Overdraft Privilege 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 thirty-two (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 Overdraft Privilege limit reinstated.