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Overdraft Coverage FAQs

It is important to understand Standard Overdraft Coverage and how it affects you. That's why we've provided some of the most commonly asked questions and answers below.

 

 

What is Standard Overdraft Coverage?

With this coverage, we may pay checks or authorize CheckCard, ATM or other transactions, subject to our published overdraft fees, even if you don't have enough funds in your account to cover these transactions.

Our Standard Overdraft Coverage does not cover everyday CheckCard or ATM transactions if you overdraw your personal checking and linked overdraft protection account, unless you have specifically consented, or "opted in", to the coverage. (Checks you write, automatic bill payments and other debit transactions are still eligible for coverage.)

 

 

Are there other options besides opting in for Standard Overdraft Coverage?

In addition to Standard Overdraft Coverage, Regions offers Overdraft Protection. This service allows you to have funds automatically transferred to your checking account from another Regions account, savings account, line of credit or credit card in the event of an overdraft.  Please be aware that Regions Overdraft Protection is not the same as Standard Overdraft Coverage, and you must apply separately for Overdraft Protection.

 

 

Can I have Standard Overdraft Coverage if I already have Regions Overdraft Protection?
Yes. Customers who have Regions Overdraft Protection may also be covered by Standard Overdraft Coverage in the event linked account funds are depleted.

 

 

What are "everyday CheckCard transactions"?

They're the daily purchases you make with your CheckCard. Examples include making a purchase at a store, restaurant, gas station, or online. 

Ongoing preauthorized payments you've set up, such as paying a monthly gym membership or other automatic monthly CheckCard payments, are not considered everyday CheckCard transactions.

 

 

What if I make a deposit to cover an overdraft?

Your account may be overdrawn even if you think you have sufficient funds. At times you may have used Standard Overdraft Coverage and not even realized it. For instance, you may have used your CheckCard when funds from a recent deposit weren't available yet, or maybe you used your CheckCard before making a deposit later in the day. If you are not opted in to Standard Overdraft Coverage for your everyday CheckCard and ATM transactions, those transactions may be declined if you don't have sufficient funds in your checking and/or overdraft protection account to cover them at the time of the transaction, even if you plan to make a deposit later that same business day.

 

 

Is an election required for Standard Overdraft Coverage on my business account?

No, an election is not required. If eligible, Regions will extend Standard Overdraft Coverage to business checking accounts to cover transactions in the event checking and/or linked account funds are depleted.

 

 

What are the fees for overdrafts?

The Paid Overdraft Item fee is $36 and the Overdraft Protection Transfer fee is up to $15 and is subject to change. However, you will not be charged a Paid Overdraft Item fee if your account is overdrawn by $5 or less when we process your transactions at the end of the day. Return Item fees may still apply. You will see no more than six Paid Overdraft Item fees per day and no more than six fees per day related to other insufficient funds transactions, which may include additional paid or returned item fees.

 

 

How do I opt in/out for Standard Overdraft Coverage for ATM and everyday CheckCard transactions?

You can change your election at any time - by calling us at 1-800-947-BANK (2265), make an election at most Regions ATMs, or by logging in to Regions.com and selecting Overdraft Coverage Options from the Customer Service menu.

 

 

What personal accounts are eligible for Standard Overdraft Coverage?

Personal checking and money market accounts are eligible for Standard Overdraft Coverage.

 

 

If I opt in or out, when does the change take effect?

Changes made prior to 8:00 PM CT on any business day will be effective for the following business night's processing.

 

 

Is there other important information I need to know about Regions Standard Overdraft Coverage?

The Paid Overdraft Item fee is $36 and is subject to change. Fees may be imposed for any debit transaction that causes your account to be overdrawn, including by check, in-person or ATM withdrawal, CheckCard, or withdrawal/transfer by any other manual or electronic means.

We reserve the right to require you to pay any overdraft immediately or upon demand. We also reserve the right not to pay overdrafts. We typically do not pay overdrafts if your account is not in good standing, you are not making regular deposits, or you have too many overdrafts.

For more information, please refer to the disclosure titled "What You Need To Know About Overdrafts and Overdraft Fees." This can be found by visiting regions.com/coverage.


 

Call 1-800-REGIONS