Overdraft Privilege
Enroll in overdraft privilege (ODP) to save you time and money...and a little red on your face. By opting in for ODP, you safeguard against having your checks bounce, saving you embarrassment. More importantly, this saves you money from return check fees and the time to get things rectified. With ODP, ECB will do it for you.
A new federal law brings changes to Overdraft Privilege (Protection) soon. Click here for more details.
- Summary
- Avoid bouncing checks
- Save money of returned check fees
- Save time restoring overdraft
- How ODP Works
As long as you maintain your checking account in good standing (defined as making regular deposits and bring your account into a positive balance at least once every 35 days), ECB generally will honor overdrafts up to the overdraft limit on your account.
If you use ODP, you should remember the bank's normal non-sufficient funds (NSF) fee for each transaction would be deducted from your account. The NSF fee is deducted from your account each time a non-sufficient check or debit item is presented for payment from your account. Utilizing ODP will not eliminate these NSF fees, but they will prevent a second costly fee of returned item from the creditors bank.
