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American National Bank

What You Need to Know about Overdrafts and Overdraft fees

After August 15, 2010, we will not authorize and pay overdrafts for ATM and everyday debit card transactions unless you ask us to (see below).

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

  1. We have standard overdraft practices that come with your account

  2. We also offer an overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about the plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number

  • Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • ATM transactions

  • Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if American National Bank pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee up to $27.95 each time we pay an overdraft for ANB Free Checking accounts or $25.95 each time we pay an overdraft for other personal checking accounts.

  • Also, if your account is overdrawn for seven (7) or more consecutive business days, we will charge an additional $10.00 per week.

  • There is no limit on the total fees we can charge you for overdrawing your account.

What if I want American National Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call (580) 226-6222, visit www.bankanb.com  or complete the form below and return it to your local branch or mail to: American National Bank, 1901 N. Commerce, Ardmore, OK.  73401.

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