If you also want us to authorize or pay overdrafts on ATM and everyday point-of-sale debit card transactions (we refer to this practice as Additional Overdraft Privilege), call (1-870-850-2550 or toll free at 1-866-246-2400), visit https://simmonsbank.com/privacy-security/consent, visit your nearest Simmons Bank branch, or complete and submit the Electronic Additional Overdraft Privilege Election Form below.
Note: This disclosure is only applicable to consumer checking accounts eligible for Overdraft Privileges. For additional information on Simmons Bank Overdraft Privileges, see the separate disclosure titled “Overdraft Privilege Disclosure".
What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when the available balance in your account is insufficient to pay a transaction, but in our sole and absolute discretion, we pay it anyway.
We can authorize and pay overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans, such as a personal line of credit or a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
This notice explains our standard overdraft practices. (we refer to this practice as Standard Overdraft Privilege).
What are the standard overdraft practices that come with my account?
We may 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 point-of-sale (non-recurring) debit card transactions
We authorize and 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 Simmons Bank authorizes and pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee up to $36.00 each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
What if I want Simmons to authorize and pay overdrafts on my ATM and everyday point of sale (non-recurring) debit card transactions?
*If you also want us to authorize or pay overdrafts on ATM and everyday point-of-sale (non-recurring) debit card transactions (we refer to this practice as Additional Overdraft Privilege), call (1-870-850-2550 or toll free at 1-866-246-2400), visit https://simmonsbank.com/privacy-security/consent, visit your nearest Simmons Bank branch, or complete and submit the Electronic Additional Overdraft Privilege Election Form below.