Tips to Avoid Overdraft Fees

Have your accounts been overdrawn recently? Here are a few helpful tips to prevent overdraft fees in the future:

Understand How Payments Are Processed

Different payment types, such as a debit card, ACH, and check transactions can take varying amounts of time to process and post to your account. Make sure you're keeping track of checks you've written and any pre-authorized payments you've set up, so you are aware of when they will post to your account.

Keep an Eye on Your Balance

There are plenty of ways to check your balance. Mobile, online, and telephone banking are the easiest options, but you can also call our branch, look at your monthly statements, or stop in and talk to a banker.

Know How We Process Payments

At SFB, we process credits (deposits) first, followed by debits (withdrawals) in this order: electronic transactions like ATM or pre-authorized payments, then checks. Checks are processed by their serial numbers, from lowest to highest.

Know Your Overdraft Protection Options

You can set up a sweep from one SFB account to another account. It will transfer funds to cover the check amount and make sure your account doesn't get overdrawn.

For more information on your options around overdraft practices, call our Customer Service Team at 888.254.0615.