Sometimes life gets too busy or you make a mistake in your checkbook and inadvertently overdraw your account.

We can help you avoid the embarrassment and expense of returned checks should an overdraft occur. As an alternative to our standard overdraft practices, we offer two overdraft services that may interest you. These services can help protect your account, but they are not a substitute for good money management. Please review the information below to choose which alternative is right for you:

Overdraft Transfer

Set up a pre-arranged transfer from another one of your accounts at Lyon County State Bank. In the event your first account has insufficient funds to pay the items presented, the bank will automatically transfer funds from your second account to cover the insufficient balance.

  • Transfers can be made for only the amount needed, or for a dollar increment of your choice.
  • There is no fee to add this service, and there is no fee if you never use it.
  • In the event you do use the service, you pay a single $5.00 Sweep Fee, regardless of the number of transactions we pay from your account each day.
  • Transfers are subject to account transaction limits which may exist on linked accounts.
  • You must have sufficient funds in your linked account, or the transfer will not be made.

 

Overdraft Privilege

Overdraft Privilege is an overdraft service requiring no action on your part. You do not have to sign anything. If you are a new, active account holder you may be able to use the privilege 30 days after your account is opened. You will receive a letter when your overdraft privilege is activated.

  • There is no additional cost associated with the privilege unless you use it.
  • In the event you do use the service, you will be charged our standard Overdraft Fee of $33.00 for each item presented for payment when there are not sufficient funds in your account. Additionally, if your account is overdrawn for four or more consecutive business days, you will be charged a $7 per day Continuous Overdraft Fee, beginning on the fifth business day overdrawn.
  • Overdraft Fees and Continuous Overdraft Fees may be imposed for covering overdrafts created by check, in-person withdrawal, ATM withdrawal, other electronic means, or the charging of other bank fees.
  • The amount of any overdrafts and overdraft fees that you owe us will be due and payable upon demand. If your account is overdrawn it should be brought to a positive end-of-day balance within 30 days. If, after a period of time, your account has not been brought to a positive end-of-day balance, we may suspend your account and take other steps to recover the funds.
  • Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts. The fact that we may pay one or more items creating overdrafts does not obligate us to do so in the future.
  • Please see a Customer Service Representative for a complete disclosure of this service.