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Overdraft Protection

Overdraft Protection

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Preventing and Managing Overdraft Fees

At times, unforeseen circumstances can leave you with too little cash in your checking account. Having a check returned or a debit card transaction declined due to insufficient funds can be an embarrassing and uncomfortable experience that may result in a paid overdraft item or returned Item fee of $35 per item/per presentment. Consumer accounts will not be charged more than six fees per day for overdrawing their account.

IBERIABANK offers several options to help you through these situations: Deposit-to-Deposit Transfer, Line of Credit, and Bounce Protection®, an extended overdraft coverage for ATM and debit card transactions. Read more below about these individual protections and how they can work together.

Deposit-To-Deposit Overdraft Protection Transfer Service

You can use your IBERIABANK personal savings, money market, or other checking accounts to protect your personal checking account from overdrafts. Funds are automatically transferred to your designated IBERIABANK account when an overdraft occurs.

  • Transfers only the deposit amount necessary to protect your checking account
  • $10 daily transfer fee applies
  • No annual fee for this service

A transfer fee will be assessed if your linked account has enough funds to cover at least one overdraft item. Accounts may incur an overdraft fee if funds transferred are not sufficient to cover all items posting to the account. Additionally, if the linked account is a Savings or Money Market account, transfers are limited to six per month by regulation.

Line of Credit

A Line of Credit provides access to funds through a revolving line of credit that may be used for purchases and as overdraft protection for your personal or business checking account. Credit application and approval is required. Please ask a bank representative for terms and conditions based on specific products. Minimum line amounts may apply. With a Line of Credit:

  • If requested, advances for overdrafts may be made by automatic transfer
  • Transfers only the deposit amount necessary to protect your checking account
  • May be a secured or unsecured line of credit

Extended Overdraft Coverage for ATM and Debit Card Transactions

Consumer checking account holders may elect to have ATM and everyday debit card transactions authorized using extended overdraft coverage. The coverage is limited to the amount of Bounce Protection® on your account. Bounce Protection® is a discretionary service whereby IBERIABANK reserves the right to pay or not pay inadvertent overdrafts created by checks, in-person withdrawals, electronic drafts (ACH), or recurring debit card transactions. At our sole discretion, we may cover those overdrafts up to the Bounce Protection® limit on your account as long as you maintain your account in good standing (defined as making regular deposits and bringing your account to a positive balance at least once every 30 days and not having excessive overdrafts). If you use Bounce Protection®, you may be charged an Overdraft (Paid) Item fee of $35 per item per presentment. Transactions may not be processed in the order in which these occurred. IBERIABANK will notify you by mail when an overdraft occurs. No interest will be charged on your overdraft balance. We encourage responsible use of your Bounce Protection® privilege.

  • Automatically provided to eligible checking accounts
  • Must elect to extend coverage to ATM and everyday debit card transactions
  • Limits automatically assigned (based on type of checking product)

For detailed information on Bounce Protection®, we encourage you to inquire with a Relationship Banker at the time you open a new checking account. You can elect to opt-out of Bounce Protection® at any time.

For assistance in making an informed decision regarding overdraft protection, click here.

To make an election regarding extended Bounce Protection® coverage for ATM and everyday Debit Card transactions:


Working Together

Deposit-to-Deposit Overdraft Protection Transfer, Line of Credit and Bounce Protection® — how do these work together on my checking account? If you have all these services — Deposit-to-Deposit Overdraft Protection Transfer is utilized first, then your Line of Credit is activated. When each of these are exhausted, then Bounce Protection® will activate.

Additional Information on Extended Overdraft Protection

Fees may be imposed for any debit transaction that causes your account to be overdrawn, including by check, in-person withdrawal, or withdrawal/transfer by any other manual or electronic means. Unless you elect for extended overdraft protection, we will generally not authorize and pay ATM withdrawals and everyday debit card transactions that overdraw your account. We may continue to authorize, at our discretion, checks, other payments and debit card transactions that are set up to bill automatically even if you do not opt in.

If we elect to pay an overdraft item, you must deposit additional funds into your account promptly in an amount sufficient to cover the overdraft and any related fees. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts.

Steps you can take to prevent overdraft fees.

Learn more about Preventing and Managing Overdrafts.

View the FDIC's printable guide about Preventing and Managing Overdrafts.