Please review the following information. After you have reviewed the information, use the form at the bottom of this page to authorize Overdraft Courtesy Coverage Plus for your ATM and daily debit card transactions.
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 have overdraft protection plans, such as a link to a savings account or credit line, which may be less expensive than our standard overdraft practices. Learn more about our overdraft protection plans.
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 and recurring debit card transactions
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to do so (see below):
- ATM transactions
- Daily 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 BankWest pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $30 each time we pay an overdraft.
- Also, if your account is overdrawn for 5 or more consecutive business days, we will charge an additional $30 per each
five-day period that the account remains overdrawn.
- The maximum number of overdrafts we charge any customer is capped at 7 per business day ($210).
What are the overdraft protection services that can be added to my account?
- Overdraft Transfer allows you to set up an automatic transfer to your checking account from another BankWest deposit account. If you conduct transactions that overdraw your checking account, the linked account makes automatic transfers to the checking account in increments of $100 to cover the transactions. Overdraft Transfer is available for a $30 annual fee.
- Checkline is a personal line of credit linked to your BankWest checking account. This service automatically advances in increments of $100 when you make a transaction that exceeds the balance available your checking account. Checkline is subject to application approval. Checkline has a $50 set-up fee the first year and a $50 annual fee thereafter. Outstanding balances are assessed an annual percentage rate of 20%.
What if I want BankWest to authorize and pay overdrafts on ATM and daily debit card transactions?
If you want us to authorize and pay overdrafts on ATM and daily debit card transactions, submit the form at the top of this page or call (605) 224-7391 or (800) 253-0362.
Please use this form to authorize Overdraft Courtesy Coverage Plus for your ATM and daily debit card transactions.