Overdraft Coverage Options


Life happens! First Bank & Trust Company 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:



Overdraft Protection Link to Another Deposit Account you have at First Bank & Trust Company (1)

One-time $10 setup fee

Overdraft Protection - First Freedom Account (2)

Subject to fees + interest

Overdraft Privilege

$27.50 Overdraft Fee per item. Weekly fees may apply.

(1)Call us at 580-336-5562 or come by any of our locations to sign up or apply for these services; (2) Subject to credit approval.

Overdraft Protection services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account or line of credit you may have at First Bank & Trust Company for a fee or finance charge. Please note that overdraft lines of credit are subject to credit approval.

Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Even if you have overdraft protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted.

Transactions Covered with
Overdraft Privilege

Standard Coverage
(No action required)

Extended Coverage
(Your consent required)*




ACH - Auto Debits



Recurring Debit Card Payments



Online Bill Pay Items



Internet Banking Transfers



Telephone Banking



Teller Window Transactions



ATM Withdrawals



Everyday Debit Card Purchases



If you would like to select Extended Coverage for future transactions:

  • call us at 580-336-5562
  • visit any of our locations
  • complete the consent form and mail to P.O. Box 878, Perry, OK 73077

*If you choose Extended Coverage, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Extended Overdraft Privilege coverage, it is not necessary to request it again. Business accounts automatically have Extended Coverage.

You can discontinue the Overdraft Privilege in its entirety by contacting us at 580-336-5562.

What Else You Should Know

  • A link to another account or a line of credit is a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our mobile banking, internet banking, and telephone banking services to keep track of your balance.
  • The $27.50 Overdraft Fee is less than the $29.00 NSF/Return Fee that is charged if a check is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft Fee of $27.50 or an NSF/Return Fee of $29.00. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn in excess of the Overdraft Privilege limit amount as a result of a fee.
  • If your account balance remains overdrawn for longer than 7 business days, we will charge your account a weekly overdraft fee of $25.00 for each 7 consecutive business days the account remains overdrawn, beginning with day 7.
  • For consumer accounts, there is a daily total limit of $145.00 for Overdraft and/or NSF/Return Fees per account. We will not charge an Overdraft Fee if an account is overdrawn by $4.00 or less.
  • We generally post items in the following order: 1) credits, 2) Pre-authorized transactions such as ATM withdrawals or transfers and one-time POS transactions first and in dollar amount order with the smallest first, 3) ACH debit transactions, electronic banking transfers or wire transfers, with the smallest dollar amount first, 4) checks, drafts and recurring POS transactions according to the dollar amount with the smallest items first, (5) service charges will post last beginning with the smallest first. However, exceptions will occur. Holds on funds (described below) and the order in which transactions are posted may impact the total amount of Overdraft Fees or NSF/Return Fees assessed.
  • Although under payment system rules, First Bank & Trust Company may be obligated to pay some unauthorized debit card transactions, First Bank & Trust Company will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions.
  • Giving us your consent to pay every day debit card and ATM overdrafts may result in your 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 and may also help you avoid overdrafts in excess of your available funds that could result in restriction of your debit card.
  • First Bank & Trust Company authorizes and pays transactions using the available balance in your account. The available balance is comprised of the memo ledger balance and does not include any deposited funds on hold. First Bank & Trust Company may place a hold on deposited funds in accordance with our Deposit Account Agreement and Disclosure. If the funds in the available balance are not sufficient to cover a transaction, any available overdraft protection and/or the amount of the Overdraft Privilege limit, may be used to authorize and pay a transaction.
  • Please be aware that the Overdraft Privilege amount is not included in your balance provided through online banking, mobile banking, or First Bank & Trust Company ATMs.
  • First Bank & Trust Company 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 in this letter, First Bank & Trust Company will not pay items if your account does not contain available funds (including the Overdraft Privilege limit) to cover the item(s).
  • We may restrict your debit card use if you incur overdrafts in excess of the available funds in your account, including any Overdraft Privilege limit. If you use your debit card for recurring payments, e.g., utilities, and your debit card is ever suspended, these transactions will be returned to the payee(s). You will need to make other arrangements to make these payments to the payee(s).
  • An Overdraft Privilege limit of $100 is available for eligible Personal and Business Checking accounts at account opening.
  • Overdraft Privilege limits of up to $500 are available for eligible Personal and Business Checking accounts opened at least 1 month in good standing.
  • Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
  • Overdraft Privilege may be discontinued 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.
  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account Agreement and Disclosure. The total (negative) balance, including all fees and charges, is due and payable upon demand.

If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at 580-336-5562 or visit any of our locations.

Extended Coverage Consent Form

Your Guide to Preventing and Managing Overdraft Fees

Consumer Financial Protection Bureau

Money Management Tools

8 Steps to Balancing Account

Better Money Management

Personal Budget Planner

Debt Reduction Strategies

Money Management References

Strategies for Saving

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