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Account Protection That Provides Peace of Mind

Mistakes happen, and we want to protect you from damage to your credit, and an embarrassing experience due to insufficient funds.

The Choice Is Yours

You may choose to protect yourself with one of the Overdraft Protection options below for greater security, or you may decide none of these are needed — your decision.

  1. Overdraft Transfer from A Companion Account

Companion accounts can cover unexpected overdrafts on your personal checking account by transferring funds from another Security Federal bank account ($5.00/transfer – maximum six transfers/month if from a savings or money market account).

  1. Line of Credit – Personal Accounts

Qualified applicants may use an unsecured Line of Credit for Overdraft Protection on checking accounts. Credit terms and conditions apply.

  1. Overdraft Reserve® – Personal Accounts

Overdraft Reserve® is a non-contractual overdraft service provided as a courtesy to qualified checking accounts. We may honor overdrafts up to the Overdraft Reserve® limit on your account, as long as you maintain your account in good standing. (Our standard overdraft fee $35.00/ transaction will apply and be deducted from your account protection limit for each insufficient item.)

Please contact a Security Federal Bank representative for more details!

Avoiding Overdrafts on Your Account

Overdraft Reserve® should not be viewed as encouragement to overdraw your account. As always, we encourage you to manage your finances responsibly. In the event you would like to have Overdraft Reserve® or any other options removed from your account, please call 803.641.3000.

Customer Overdraft Reserve® Policy

Several types of transactions may result in an insufficient balance. Examples include: a) the payment of checks, electronic funds transfers, or other withdrawal requests; b) the return of unpaid items deposited by you; c) the assessment of bank service charges; or d) the deposit of items which, according to the bank’s Funds Availability Policy, are treated as not yet available or finally paid. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds. Rather than automatically returning items as unpaid that are for non-sufficient funds, we will pay them through Overdraft Reserve® up to your limit, including any fees associated.

Your account must be in good standing, which includes: a) you are not in default on any loan obligation to Security Federal Bank; b) you bring your account to a positive balance (not overdrawn) at least once every fifteen (15) consecutive business days; c) your account is not the subject of any legal or administrative order or levy; and d) your account has not exceeded the Overdraft Reserve® limit disclosed below. Normally, we will not approve an overdraft for you in excess of your limit including any overdraft handling charge(s). We may refuse to pay an overdraft for you at any time, even though we may have previously paid overdrafts for you. You will be notified by mail (or email if you have signed up for eStatements and/or electronic delivery of notices) of any non-sufficient funds items and charge(s) of $35.00 per item that you owe us, which will be due and payable upon demand. We have no obligation to notify you before we pay or return any item. If there is an overdraft paid by us on an account with more than one (1) owner on the signature card, each owner, and agent if applicable, drawing/ creating the item creating the overdraft, shall be jointly and severally liable for such overdraft, plus our overdraft

or non-sufficient funds handling charge(s) of $35.00 per item. You may be able to access your Overdraft Reserve® through a teller, ACH, check or automatic payment. For personal checking accounts, if you select to opt in on the “What You Need to Know About Overdrafts and Overdraft Fees” disclosure, you may also be able to access your overdraft checking limit through an ATM or debit card purchase. Please note, if your account is overdrawn for more than 15 consecutive days, we will charge a fee of $5.00 for each business day your account is overdrawn. 

Personal Checking

$500.00 (limit includes overdraft fees)

LIMITATIONS: Available to personal accounts in good standing. If the overdraft checking service is suspended on three occasions in a rolling 12-month period, the overdraft checking service will be revoked for a period of at least six months. The fees charged for the items paid into overdraft or returned, as well as the amount of the overdraft item(s), will be subtracted from the disclosed overdraft protection dollar limit. The order in which transactions are received and processed can affect the total amount of overdraft fees incurred by a customer. We pay checks received from other customers or other financial institutions in check number sequence when the check number is provided. Security Federal Bank reserves the right to limit participation to one account per customer and to discontinue this product at any time without prior notice. Overdraft Reserve may be available to small business accounts (up to $1,500.00) if additional requirements are met. Consult with a Security Federal representative for more details.