Exchange Bank, a local bank with locations in Milledgeville, Gray, and Lake Oconee Georgia
Overdraft Privilege Program
Overdraft Privilege Program
Exchange Bank offers an Overdraft Privilege program that allows a customer to overdraw their checking account up to a pre-approved and predetermined amount for a fee per item. The fee is $30.00 per item up to a maximum of $150.00 in any one day. The Overdraft Privilege program is designed to protect you from INADVERTANT overdrafts only. Overdrawing your account on a regular basis can be costly. There are less costly alternatives to the Overdraft Privilege program. They are:
· You can set up a savings account or another checking account to transfer funds to your checking account in the event funds are not available to cover an overdraft.
· A loan or a personal line of credit (if you qualify) may be more practical than Overdraft Privilege.
Access to free or low-cost financial education is available. The Federal Trade Commission (FTC) Choosing a Credit Counselor is a resource that is available. The site can be accessed online at http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre26.shtm.
