An overdraft can occur when you attempt to spend or withdraw more money than is available in your checking account. This may happen as a result of making a mistake in your checkbook register or forgetting to record a pre-authorized withdrawal, purchase or ATM transaction.
We cannot promise or guarantee those things will never happen, but we can offer several options for your consideration to protect and manage your account.
Overdraft Privilege is available for Penn Security Bank customers who request and qualify for this service. Rather than automatically returning all insufficient funds items that are presented, we will consider, without any obligation on our part, payment of your overdrafts up to your assigned overdraft privilege limit. If you use this service, you will be charged our customary fee(s) as outlined in our current fee schedule.
Credit Card Line of Credit Protection
A Penn Security Bank credit card line of credit can be linked to your primary checking account to provide protection against any overdrafts. In the event you do not have sufficient funds in your primary checking account, funds can be transferred from the line of credit to your checking account in increments of $50.00 to prevent an overdraft in your account. A transfer fee will be charged for this service. Please refer to our standard schedule of fees for additional information on overdraft protection fees.
You also have the option of linking your personal Penn Security Bank checking account to a Penn Security Bank savings or money market account so that if an overdraft occurs on your primary checking account, funds will automatically be transferred from the savings or money market account to cover your overdraft. A transfer fee will be charged for this service. Please refer to our current fee schedule.