Before we get into the details about overdraft-related fees and how to avoid them, let's first cover the types of overdraft-related fees.
A $36 fee that is incurred when a transaction amount exceeds your available balance and is paid with negative funds.
Returned Item Fee
A $36 fee that is incurred when a check or ACH item is returned unpaid due to not having a sufficient available balance.
Extended Overdraft Fee
A $36 fee that is incurred when your current (ledger) balance has been negative for five consecutive business days (excludes Saturdays, Sundays and holidays). We start counting on the day your current balance becomes negative.
Overdraft Protection Transfer Fee
A $12.50* fee incurred on the day Overdraft Protection is used. As long as the linked account balance can cover the transaction amount, you will pay just one transfer fee on the day the overdraft occurs—regardless of how many transfers are made.
Overdraft and Returned Item Fees are assessed when you try to use more money than there is available in your account—so, more money than your available balance reflects.
Until a deposit is made to cover all outstanding transaction amounts, your available balance will be negative, and you will incur a fee of $36 each time a transaction is paid with negative funds or returned as unpaid. (SunTrust will not charge a fee on any transactions that are less than $5 and we limit Overdraft and Returned Item fees to six per day.) If your balance remains negative for five consecutive business days, you may be charged an additional one-time Extended Overdraft Fee.
If you incur an Overdraft or Returned Item Fee, we’ll make it easy to see in Online Banking and Mobile Banking, along with the transaction that caused it. You can also click on “Why did this happen?” to see a view of your account activity for the day you were overdrawn and the order in which your transactions were processed to better understand why a fee was charged.
Here's an example from Online Banking:
Click the "Why did this happen?" link to see why your account was overdrawn.
Note: Overdraft Fees may be assessed on checks, recurring debit card transactions and ACH items. Also, if you have accepted Overdraft Coverage, ATM and one-time debit card transactions may be assessed an Overdraft Fee.
This view of your Account Balance History shows why the Overdraft Fee occurred.
Exception 1: If your account becomes overdrawn during a business day, you can avoid a fee by making a deposit or transferring funds from another account to cover the overdraft by the daily deposit cut-off time. If you make a check deposit, this assumes that we do not place a hold on it.
Exception 2: SunTrust will waive Overdraft/Returned Item Fees on transactions less than $5. When we do, it’ll show up in Online and Mobile Banking as an “overdraft item fee not charged” or a “returned item fee not charged.” Even if you have multiple overdrafts in one day, you will not be charged for the transactions that are less than $5.
Say you had $7 in your checking, but you made several transactions that caused your balance to become negative.
|Transactions||Transaction Amount||Available Balance||Overdraft Fee|
|Coffee Purchase, debit card||$3.00||-$1.00||No|
|Lunch Purchase, debit card||$4.00||-$5.00||No|
You're only charged a fee for check 102 because the overdraft is $5 or more.
Exception 3: An Overdraft Fee will not be assessed if the transaction that caused the overdraft is a one-time debit card transaction or an ATM transaction provided you had declined Overdraft Coverage at the time the transaction was authorized.
|If you overdraw your account on...||You must make a deposit to cover the overdraft by the daily deposit cut-off time on...||Or you will be charged the Extended Overdraft Fee on...|
Note: Keep in mind that Extended Overdraft Fees are in addition to any overdraft or returned item fees that have already been assessed.
How we help you avoid an Extended Overdraft Fee:
* The $12.50 Overdraft Protection transfer fee is charged to the protected deposit account. All advances are subject to funds availability. The $12.50 Overdraft Protection transfer fee does not apply to Overdraft Assurance line of credit. See our Fee Schedule and your account agreement for complete terms and conditions.
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