FAQ's

Your Search for "overdraft" found 14 results

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.

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 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.  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.

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.

What is Overdraft Coverage versus Overdraft Protection?

Overdraft Coverage allows SunTrust to pay ATM and one-time debit card transactions when your available balance is not sufficient to cover the transaction. You may be charged up to $36 for each overdrawn item. (Note: SunTrust will limit the number of fees you can incur per day to 6 Overdraft item and 6 Returned item fees.) Overdraft Protection helps you avoid overdrafts by linking your checking account to another SunTrust deposit account, credit card, Access 3 or other personal line of credit, or Overdraft Assurance line of credit, and transferring funds when necessary. There is a $12.50 overdraft protection transfer fee charged to the protected deposit account each day we transfer funds on your behalf. (Note: Special rules apply to Overdraft Assurance lines of credit. Visit our Facts About Banking site for additional details.) Keep in mind that SunTrust pays overdrafts at its discretion, which means we can't guarantee that we will always cover every transaction.

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.

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 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. , Overdraft Coverage is automatic and clients will incur applicable overdraft fees, up to SunTrust’s daily maximum of 6 Overdraft and 6 Returned Item fees per day. 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 transaction and assess an overdraft fee.  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.

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.

<< Previous 
• 2   Next >>
Page 1 of 2

Investment and Insurance Products:

  • Are Not FDIC or any other Government Agency Insured
  • Are Not Bank Guaranteed
  • May Lose Value

© 2015 SunTrust Banks, Inc.

Equal Housing SunTrust Bank is an Equal Housing Lender. Member FDIC.

Equal Housing Equal Housing Lender. SunTrust Mortgage, Inc.

SunTrust, SunTrust Mortgage, SunTrust PortfolioView, SunTrust Robinson Humphrey, SunTrust Premier Program, AMC Pinnacle, AMC Premier, Access 3, Signature Advantage Brokerage, Custom Choice Loan and SunTrust SummitView are federally registered service marks of SunTrust Banks, Inc. All other trademarks are the property of their respective owners.

Services provided by the following affiliates of SunTrust Banks, Inc.: Banking and trust products, including investment advisory products and services, are provided by SunTrust Bank, member FDIC; securities, insurance (including annuities), and other investment products and services are provided by SunTrust Investment Services, Inc.; investment advisory products and services are offered by SunTrust Investment Services, Inc.; mortgage products and services are provided by SunTrust Mortgage, Inc.

SunTrust Mortgage, Inc. - NMLS #2915, 901 Semmes Avenue, Richmond, VA 23224, toll free 1-800-634-7928 CA: licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, IL: Illinois Residential Mortgage Licensee #MB-989, Department of Financial and Professional Regulation, 100 W. Randolph, Suite 900, Chicago, IL 60601, (312) 793-1490, MA: Mortgage Lender license #-ML-2915, NH: licensed by the New Hampshire Banking Department, NJ: Mortgage Banker License - New Jersey Department of Banking and Insurance, and RI: Rhode Island Licensed Lender.

"SunTrust Advisors" may be officers and/or associated persons of the following affiliates of SunTrust Banks, Inc.: SunTrust Bank, our commercial bank, which provides banking, trust and asset management services; SunTrust Investment Services, Inc., an SEC registered investment adviser and broker-dealer, which is a member of FINRA and SIPC, and a licensed insurance agency, and which provides securities, annuities and life insurance products, and other investment services.

SunTrust Private Wealth Management, International Wealth Management, Business Owner Specialty Group, Sports and Entertainment Group, and Legal and Medical Specialty Groups are marketing names used by SunTrust Banks, Inc. and SunTrust Investment Services, Inc.

SunTrust Robinson Humphrey is the trade name for the corporate and investment banking services of SunTrust Banks, Inc. and its subsidiaries, including SunTrust Robinson Humphrey, Inc., member FINRA and SIPC.