Overdraft Programs
Great news! If you have an overdraft protection service set up between your existing Old Point deposit accounts, this service will continue as it has in the past. We are pleased to share that TowneBank does not charge transfer fees to move money between your accounts.
If you have an overdraft protection service set up from your Old Point Line of Credit, this service will continue as it has in the past. The Courtesy Coverage and Courtesy Coverage PLUS programs will not carry over to TowneBank. The selection you made to have your ATM and everyday debit card transactions paid in the case of an overdraft will continue without interruption at TowneBank.
Our Standard Overdraft Practices
- We authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
- Please note, we will not authorize and pay overdrafts for the following types of transactions unless you ask to:
- ATM transactions
- Everyday debit card transactions
- We pay overdrafts at our discretion, which means we do not guarantee authorization and payment of every transaction. If we do not authorize and pay an overdraft, your transaction will be declined.