Overdraft Services

Understand your options for Overdraft Services.

We offer four options for Personal 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.


Watch a video on Atlantic Union Bank's options for Overdraft Services



Overview of Personal Overdraft Services

We are providing information about Atlantic Union Bank’s Overdraft Services to help you make an informed decision based on your needs. The selections you make will let Atlantic Union Bank know what you would like us to do when there is not enough money in your account to cover a transaction.

Learn more below about Atlantic Union Bank’s Overdraft Services.

This service comes standard with most checking accounts*. The 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 and no fee is charged. However, you may be charged a returned fee by the merchant. 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, and other transactions that use your checking account number.

What is not covered?
One-time debit card and ATM transactions

How much does it cost?
 
  • $38 Overdraft Fee for each paid transaction.
  • Maximum of 4 Overdraft Fees per 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.

If you choose to remove Standard Overdraft Privilege, you also opt out of Opt-In Overdraft Privilege. To opt out,

*This service is not available with PRISM Checking accounts.

**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.

This service requires your enrollment or opt in*. The Bank will consider authorizing one-time debit card and ATM transactions, at our discretion** and for a fee, when your available balance at the time of the transaction is not enough to cover them. If Atlantic Union Bank does not authorize a transaction, your transaction is declined and no fee is assessed. The Bank does not guarantee a transaction will be authorized if presented for more than the current balance in your account.

What is covered?
One-time debit card and ATM transactions

What is not covered?
Checks, automatic bill payments (ACH), recurring debit card transactions, and other transactions made using your checking account number.

How much does it cost?
 
  • $38 Overdraft Fee for each paid transaction.
  • Maximum of 4 Overdraft Fees per 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.
  • When your transaction is declined at the time you attempt the transaction.
  • If your balance was sufficient when your transaction was authorized but your account becomes overdrawn when the transaction settles, you are not charged an Overdraft Fee.
Can I opt out?

Yes. You can opt out at any time. If you opt out of Standard Overdraft Privilege, you also opt out of Opt-In Overdraft Privilege. To opt out,

  • Login to Online Banking, click on “Service & Support," select “Overdraft Election”
  • Call Customer Care at 800-990-4828
  • Visit a nearby branch
*This service is not available with PRISM Checking accounts.
**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.
Link your checking account to another Atlantic Union Bank account, such as a savings account, to help pay transactions that will overdraw your account.

How does it work?
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.

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

How much does it cost?
 
  • No Overdraft Fees are charged.
How do I request this service?
Talk to your Banker to add this service.

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

Link your checking account to a personal line of credit to help pay transactions that will overdraw your account. A line of credit requires an application and is subject to credit approval.

How does it work?
Funds are automatically transferred to your checking account from a personal line of credit. Money is advanced from your line of credit in $100 increments, up to the available credit amount. The amount transferred from your line of credit is considered an advance, which you must repay, plus a finance charge.

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

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 Banker to add this service.

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

*See your Banker for more details. Rates are in effect as of 8/3/22.  Credit Approval Required. Terms and Conditions Apply

What are Atlantic Union Bank’s Overdraft-Related Fees?

Overdraft Fee = $38
This fee is charged when we pay a transaction that is more than the current balance in your account at the time of settlement and your current balance becomes negative, or overdrawn.

Maximum number of Overdraft Fees charged per day = 4
Your account will be charged a maximum number of 4 Overdraft Fees per day.


Learn about our Overdraft Threshold

At Atlantic Union Bank, we do not charge an Overdraft Fee when a transaction is $5.00 or less or when a transaction overdraws your account by $5.00 or less.

  • Consider the scenarios below, with each including a typical transaction that may overdraw your account but likely would not result in an Overdraft Fee.
  • In each scenario, assume your account has a current balance of $4.00.

OverDraft Threshold Chart

*Your current balance is the amount in your account after all transactions have been posted to your account during our nightly processing.
1You are expected to repay a negative balance in your account right away.

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