Business Overdraft Services

Understand your options for overdraft services.


We offer three options for Business Overdraft Services. The following information will help you understand each of your options for how transactions are managed when you do not have enough money in your account to cover them.


The information below about each of Atlantic Union Bank’s Business Overdraft Services should help you make an informed decision based on your needs. The selections you make will let us know what you would like us to do when there is not enough money in your account to cover a transaction. Your selection is not a guarantee that a transaction will be paid. These services have fees or other costs associated with them, and you can change your selections at any time.
 

Business Overdraft Privilege

This service comes standard with Essential Business Checking, Enterprise Business Checking and Elite Business Checking. With this service, Atlantic Union Bank will consider paying transactions, at our discretion* and for a fee, when your account balance at the time of settlement is not enough to cover them. If Atlantic Union Bank does not pay the transaction, it is returned unpaid. The Bank does not guarantee a transaction presented for more than the current balance in your account will be paid.

What is covered?
Checks, automatic bill payments (ACH), recurring debit card transactions, ATM transactions, one-time debit card transactions, and other transactions that use your checking account number.

How much does it cost?
 
  • $38 Overdraft Fee for each paid transaction.
  • $38 Non-Sufficient Funds Fee for each returned transaction.
  • Maximum of 4 combined Overdraft and Non-Sufficient Funds Fees per business day.
  • You are expected to repay a negative balance in your account right away.
When is an Overdraft Fee not charged?
When a transaction is $5 or less or when the transaction overdraws your account by $5 or less.

Can I opt out?
Yes. You can remove this service at any time for checks, automatic bill payments, and other transactions made using your checking account number. Removing this service does not stop the payment of recurring debit card transactions.

To opt out,
 

*Examples of when the Bank does not pay a transaction at our discretion are when your account is not in good standing, or when you are not making regular deposits to your account, or when your account has too many overdrafts.

Overdraft Account Transfer

This is an optional service that allows you to link your business checking account to another Atlantic Union Bank checking, money market or savings account to help pay transactions that will overdraw your account. Funds are automatically transferred to your checking account from the account you designate, up to the available amount in your designated account. Because funds are transferred in the exact amount needed, there is no negative balance for you to repay.

How much does it cost?
 
  • No Overdraft Fees are charged.

How do I request this service?
Talk to your Relationship Manager to add this service.

How do I remove this service?
You can request to remove this service at any time by contacting your Relationship Manager or visiting a nearby branch.

Business Overdraft Line of Credit

This is an optional service that allows you to link your checking account to a Business Overdraft Line of Credit to help pay transactions that will overdraw your account. Money is advanced from your line of credit in $100 increments, up to the line’s available credit amount. The amount transferred from your line of credit is considered an advance, which you must repay, plus a finance charge. Because the linked line of credit pays the transactions, there is no negative balance in your checking account to repay.

Requesting a Business Overdraft Line of Credit requires an application, is subject to credit approval and terms and conditions apply**

How much does it cost?
 
  • No Overdraft Fees are charged.
  • Pay off the entire balance or make minimum monthly payments.
  • The Annual Percentage Rate (APR) is 18.00% in Virginia and Maryland, 16.00% in North Carolina.**
How do I request this service?
Talk to your Relationship Manager to add this service.

How do I remove this service?
You can request to remove this service at any time by contacting your Relationship Manager or visiting a nearby branch.

**See your Relationship Manager for more details. Rates are in effect as of 6/30/2022.  Credit Approval Required. Terms and Conditions Apply.
 

Contact a Relationship Manager

*Required Field