FAQ's

Your Search for "overdraft" found 14 results

Can I accept overdraft coverage without using Online Banking?

Yes. SunTrust clients can also call 800.485.7279 or visit their local branch to accept coverage.

If I choose not to accept Overdraft Coverage, what does that mean?

This means that the Bank will not authorize ATM or one-time debit card transactions if your account does not have sufficient funds to cover the items and will result in the transaction(s) being declined at the point of sale.

How do I add or change Overdraft Protection?

You can add or change your Overdraft Protection settings in Online Banking, by phone, or in a branch.

Is there a fee to accept Overdraft Coverage?

No. There is no fee to accept this service; however if you accept Overdraft Coverage and an item is paid resulting in an overdraft of your account, an OD fee of $36 may be assessed.However, if you deposit or transfer enough funds to bring your balance positive by cut-off that day, you will not incur any fees.

Does Overdraft Coverage apply to checks or recurring payments?

No, Overdraft Coverage only applies to ATM and one-time debit card transactions. Checks and automated or recurring payments (e.g. monthly movie rentals, gym memberships, and subscriptions) aren’t affected by Overdraft Coverage and may be paid or returned if your balance is not sufficient, and applicable overdraft or returned item fees may be incurred. SunTrust pays overdrafts at our discretion; we do not guarantee that we will always authorize and pay any type of transaction.

What is an Extended Overdraft Fee and how do I avoid it?

An extended overdraft fee is incurred when your current (ledger) balance has been negative for five consecutive business days (does not include Saturdays, Sundays and holidays).

To help you avoid an extended overdraft fee, we will mail you written notification when you overdraw your account or an item is returned.  When you are at risk of incurring an extended overdraft fee, an alert will be displayed in Online and Mobile Banking providing the date you must make a deposit or transfer by to bring your balance positive and avoid the fee. Additionally, Online Banking clients will receive an email notification to their email address on file.  There is no need to opt-in to receive this alert, it is automatic; however, please make sure your current email address in Online Banking is up-to-date so you can receive important notifications about your account.

How do I add or change Overdraft Protection?

You can add or change your Overdraft Protection settings in Online Banking, by phone, or in a branch.

What is Overdraft Protection?

Overdraft Protection allows you to link your account to an established protection account so that your transactions are covered by the balances or available credit in your protector account. Available protector accounts include SunTrust deposit accounts, credit cards, personal lines of credit, and Overdraft AssuranceSM lines of credit. Once you have set-up Overdraft Protection, you will not incur overdraft fees if you overdraw your account and there are available funds in your protection account. There is a $12.50 transfer fee per daily transfer for this service. (Note: Special rules apply to Overdraft Assurance lines of credit. Visit our Facts About Banking site for additional details.) If your Overdraft Protection account is a savings or money market account, transfers will count towards the maximum number of 6 withdrawals and transfers per month per Regulation D and bank requirements.

Is anyone exempt from making a choice regarding Overdraft Coverage?

Federal Regulation E mandates the requirements for Overdraft Coverage.  However, Regulation E does not cover Business client transactions, and therefore Business accounts are not allowed to be setup for Overdraft Coverage. All consumer checking account clients at any bank are impacted by Regulation E and must accept Overdraft Coverage in order to allow the bank to pay ATM and one-time debit card transactions when their available balance is not sufficient to cover the transactions and assess overdraft fees, up to SunTrust's daily maximum of 6 total Overdraft and Returned Item fees per day.  If a client declines Overdraft Coverage or does not make an election, the bank will decline ATM withdrawals and everyday debit card transactions at the point of sale when funds are not available in the consumer deposit account.

Can I change my decision to accept overdraft coverage?

Yes. You can change your decision to have overdraft coverage at any time through Online Banking, by phone, or in a branch. After you let us know your Overdraft Coverage decision, it will take up to two business days to go into effect.

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