Savings-Link Overdraft Protection

Savings-Link Overdraft Protection

    Summary

    Savings-Link Account Overdraft Protection automatically transfers funds toward an overdraft balance in your linked checking account


    Savings-Link for Individuals offers the convenience of automatic fund transfers toward an overdraft balance in your linked checking account.


    See important Account Disclosure Information below.*


    Minimum Opening Deposit


    • $100

    Monthly Service Charge*


    • $3
    • The Monthly Service Charge will be waived if, during that monthly statement cycle, you maintain a minimum daily balance of $300 in your Savings-Link account.

    Excess Activity Fee


    • $5 fee per withdrawal in excess of six (6) per statement cycle, excluding Savings-Link Transfers and F&M Bank Online Banking transfers.
    • Excess Activity Fee(s) will be waived if, during that monthly statement cycle, you maintain a minimum daily balance of $300 in Savings-Link account.

    Savings Link Transfer Fee


    • $12.50 per transfer; only one aggregate transfer occurs per day; and the fee is assessed from the checking account, after the transfer.
    • Savings-Link Transfer Fees cannot be waived by maintaining a minimum daily balance in the Savings-Link account.
    • The Savings-Link Transfer Fee is reversed when an automatic Savings-Link transfer occurs and the funds transferred are not sufficient to pay at least one of the incoming debits creating the overdraft balance in the linked checking account.
    • Savings-Link does not transfer funds to cover overdrafts caused by Automated Teller Machine (ATM) transactions, or everyday debit card overdraft transactions (also known as Point of Sale or POS transactions). However, in some cases your linked checking account may become overdrawn by an ATM or POS transaction. In this event, Savings-Link may transfer available funds toward the overdraft balance in the linked checking account, and you will be charged a Savings-Link Transfer Fee. The available balance in your Savings- Link account is not included in Online Banking, ATM, Text Banking, or merchant pre-authorizations when determining your available checking account balance.

    When Savings-Link has sufficient funds to cover the overdraft balance in the linked checking account


    • An automatic transfer from the Savings-Link account into the checking account occurs; and
    • The total amount transferred from the Savings-Link account into the checking account will include:
    • The amount of the overdraft balance in the checking account, plus
    • $12.50 for the Savings-Link Transfer Fee, plus
    • $0.01 to keep the checking account at a positive balance.

    When Savings-Link does not have enough funds to cover the overdraft balance in the linked checking account


    • An automatic transfer from the Savings-Link account into the checking account occurs, up to the Savings-Link account balance excluding $0.01 to keep the Savings-Link at a positive balance; and
    • The transfer will reduce the amount of the overdraft in the checking account, and may make funds available to pay incoming items; and a $12.50 Savings-Link transfer fee will be charged to the checking account.
    • The Savings-Link Transfer Fee is waived when an automatic Savings-Link transfer occurs and the funds transferred are not sufficient to pay at least one of the incoming debits creating the overdraft balance in the linked checking account.

    Savings-Link for Individuals offers the convenience of automatic fund transfers toward an overdraft balance in your linked checking account. Owners of both Accounts must be the same. Interest on the Savings-Link account is credited to the account on the monthly statement cycle date.


    Savings-Link for Individuals is available to Consumer Customers. The Minimum Opening Deposit requirement is $100. Monthly Service Charge is $3. The Monthly Service Charge will be waived if, during that monthly statement cycle, you maintain a minimum daily balance of $300 in your Savings-Link account. There is an Excess Activity Fee of $5 fee per withdrawal in excess of six (6) per statement cycle, excluding Savings-Link Transfers and F&M Bank Online Banking transfers. Excess Activity Fee(s) will be waived if, during that monthly statement cycle, you maintain a minimum daily balance of $300 in your Savings-Link account. The Savings-Link Transfer Fee is $12.50 per transfer; only one aggregate transfer occurs per day; and the fee is assessed from the checking account, after the transfer. Savings-Link Transfer Fees cannot be waived by maintaining a minimum daily balance in the Savings-Link account. The Savings-Link Transfer Fee is reversed when an automatic Savings-Link transfer occurs and the funds transferred are not sufficient to pay at least one of the incoming debits creating the overdraft balance in the linked checking account.


    From the Savings-Link account you are permitted to make six (6) transfers or withdrawals per monthly statement cycle (excluding Savings-Link Transfers) by check, draft, debit card, or similar order and payable to third parties. As required by Federal Regulation D, if you exceed these limits during any monthly statement cycle we may reclassify or close your Savings-Link account. Please refer to "Withdrawal Restrictions for Certain Interest-Bearing Accounts" in Book I of the Customer Agreement & Schedule of Charges.


    Get more information and a sample of a Savings-Link Scenario.


    Visit any of our convenient locations or call us at (800) 888-1498, M-F 8am-6pm PST. Either way, one of our friendly and knowledgeable Customer Service Representatives will be happy to assist you.


    *Account Disclosure Information

    Monthly Service Charge refers to a recurring monthly account service charge or account maintenance fee; other fees and charges may apply.


    For terms and conditions, account information, and a list of fees and charges that may apply, please refer to our Customer Agreement & Schedule of Charges, Books I & II which you receive at account opening.


    This information is effective 8/1/14 and subject to change anytime without notice.