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 may pay a transaction at our discretion that will overdraw your account when your current balance, at the time of settlement, isn’t enough to cover the transaction. If Atlantic Union Bank does not pay the transaction, it is returned unpaid.

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
  • $38 Non-Sufficient Funds Fee for each returned transaction
  • Maximum of 6 combined Overdraft and Non-Sufficient Funds 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 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 it.

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 6 Overdraft Fees per day
  • You are expected to repay a negative balance in your account right away
  • An Overdraft Fee may be assessed if your account balance is overdrawn at the time the transaction posts to your account even if the available balance in your account was sufficient at the time your transaction was authorized.
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
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
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?
All transactions

How much does it cost?
 
  • A single $12.50 Transfer Fee per day, regardless of the number of transactions covered
  • 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?
All transactions

How much does it cost?
 
  • A single $12.50 Transfer Fee per day, regardless of the number of transactions covered
  • No Overdraft Fees are charged
  • Payoff the entire balance or make minimum monthly payments equal to 5% of the principal balance or $20 minimum, whichever is greater
  • 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.
 

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 available balance in your account and your account balance becomes negative, or overdrawn.

Non-Sufficient Funds (NSF) Fee = $38
This fee is charged when we return a transaction unpaid because your available balance was not sufficient to cover the transaction.

Overdraft Transfer Fee = $12.50
This fee applies to our Overdraft Account Transfer and Overdraft Line of Credit Services, and is charged when a transfer is made from your linked account or line of credit to cover an overdraft in your checking account.

Maximum Number of Overdraft and/or NSF Fees Charged Per Day = 6
Your account will be charged a maximum number of 6 Overdraft or NSF fees, or combined, per day.


Learn about our $5.00 exception

At Atlantic Union Bank, we make an exception and 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.

Exceptions 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.