What You Need to Know About Overdrafts and Overdraft Fees
Stock Yards Bank can help you manage your checking account with Overdraft Privilege. An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdraft in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans, such as a personal line of credit, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
What are the Standard Overdraft Practices that come with my account?
We DO authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
We will not be able to pay overdrafts for the following types of transactions unless you ask us to (opt-in):
- ATM Transactions
- Everyday Debit Card transactions
What fees will be charged if Stock Yards Bank pays my overdraft?
Under our Standard Overdraft Practices:
- We will charge you a fee of $36 each time we pay an overdraft (up to six per day).
- Also, if your account is overdrawn for 11 or more consecutive business days, we will charge an additional $6 per day.
- There is no limit on the total fees we can charge you for overdrawing your account.
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.
What if I want Stock Yards Bank to authorize and pay overdrafts on my ATM and everyday Debit Card transactions?
You may contact us at (502) 625-2463 or (502) 625-0816 or visit one of our conveniently located branches. You may also print and return this completed form to your local branch, or send by mail to:
Stock Yards Bank and Trust
ATTN: Overdraft Privilege Department
P.O. Box 36549
Louisville, Kentucky 40233-9969