Managing Your Deposit Accounts

We encourage responsible use of your accounts to avoid incurring fees. However, we understand that an occasional oversight will happen, and you may have insufficient funds in your account. We have options for you to consider that will provide coverage in these situations and may be less costly overall.

  • Overdraft Transfer Service
    • Overdraft Transfer Service is a new service beginning September 2022. You pick a savings, money market, or checking account as your Funding Account, and it will sweep funds to cover overdrawn checks and electronic withdrawals (i.e., ACHs) in your Designated Checking Account.  Debit card transactions are excluded from coverage. The sweep is done once a day and there is no fee to enroll.
  • Credit Reserve
    • Credit reserve is a line of credit and requires credit approval. When your checking account does not have enough funds to cover checks, electronic withdrawals, and/or debit card transactions, an advance is made on your credit reserve to cover the items. Monthly payments are required to repay the advances and the interest accrued.
    • To enroll in Overdraft Transfer Service or apply for credit reserve, please visit your local private banking office, or call Client Resource Center at (844) 251-4244.

If you do not have coverage through Overdraft Transfer Service or credit reserve, a check or electronic withdrawal could be returned unpaid because there are insufficient funds in your account to pay such item. In addition, you will also incur an NSF Return Item Fee of $15 for each occurrence up to a daily limit of $75.  Deposit accounts with Massachusetts 18/65 coverage will incur NSF Return Item Fee of $5 for each occurrence up to a daily limit of $25.

For example, an electronic withdrawal for cell phone payment of $100 is posted to your account, but there are insufficient funds.  The $100 electronic withdrawal will be returned unpaid and an NSF Return Item Fee of $15 will be charged to your checking account.  Your cell phone provider may also charge penalties and fees because it could not collect payment.

We will try to contact you as these incidents occur, so it is important that you keep your contact information current. 

In addition, we have services to help you monitor your account balances and activities including:

  • Online Banking and Mobile Banking
    • Monitor your account activities at any time with online banking and/or mobile banking.  There is no charge to use these services.
  • Transaction Alerts
    • Through online banking service, you may set up Account Alert notifications based on parameters you define, such as balance thresholds and specific check clearing.

As a reminder, keeping your check register current is a way to avoid fees and signing up for direct deposits will allow you to gain quicker access to your money.