bank card

Overdraft Coverage

Important Information About Overdraft Coverage

For clients who manage their accounts responsibly, Tompkins provides an Overdraft Courtesy as part of our standard overdraft practices for personal and business checking accounts.

Overdraft Courtesy may serve as a safety net for your account. In the event you don’t have sufficient funds available to cover a transaction, we may, at our discretion, advance funds to pay it, and our standard overdraft fee of $38 would be charged. Many customers who have had occasion to use Overdraft Courtesy appreciate that it prevented the embarrassment and inconvenience of a declined transaction, even though there was an overdraft fee.

Tompkins is not obligated to pay any item presented for payment if your account does not contain sufficient available funds. Any discretionary payment by Tompkins of an overdraft check (or item, such as an ATM withdrawal) does not obligate the bank to pay any other overdraft check (or item), or to provide prior notice of its decision to refuse to pay such check (or item). 




What You Need To Know about Overdrafts and Overdraft Fees

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 overdrafts in two different ways:
  1. We have standard overdraft practices that come with your account.
  2. We also offer overdraft protection plans, such as a link to a savings account and overdraft line of credits, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
A federal regulation requires personal checking customers to make a choice regarding the overdraft practices for their everyday debit card and ATM transactions. With increasing use of debit cards and ATMs for casual transactions, the regulation is intended to ensure that consumers understand the overdraft practices and fees for these transactions. In order for banks to extend its standard overdraft practices, such as Overdraft Courtesy, to cover an everyday debit card or ATM transaction, it must have the client’s permission, called an Opt-In, on file.
If we don’t have your Opt-In on file, we will not be able to extend Overdraft Courtesy to approve an everyday debit card or ATM transaction if you don’t have sufficient available funds. Regretfully, your transaction will be declined.
If you have already opted in and would like to revoke your Opt-In for Overdraft Courtesy on everyday Debit Card and ATM transactions:
Complete our revocation form online, call us at 1-888-273-3210, stop by your branch or print and mail the completed revocation form to:

Deposit Operations
PO Box 460
Ithaca, NY 14851

Once we receive your revocation, we will remove your Opt-In from our file, which means we will no longer be able to extend Overdraft Privilege to approve an everyday debit card or ATM transaction if you don’t have sufficient available funds and your transaction will be declined.







We may continue to extend Overdraft Courtesy to approve any of your transactions, including everyday debit card and ATM transactions, and our standard overdraft item fee of $38 would apply.
Here’s how to Opt-In to Overdraft Courtesy for everyday Debit Card and ATM transactions:

When you’re ready to Opt-In, complete our convenient opt-in form online, call us at 1-888-273-3210, stop by your branch or print and mail the completed opt-in form to:

Deposit Operations
PO Box 460
Ithaca, NY 14851
An overdraft fee of $38 is charged each time we cover an overdraft that results in a negative end-of-day available balance. Overdrafts may be created by checks, in-person withdrawals, ATM withdrawals or by other electronic means.

Once an overdraft has occurred, you must bring your account to a positive balance within thirty (30) days for a minimum of 24 hours.

Whether your overdraft will be paid is at Tompkins discretion, and we reserve the right not to pay. For example, we typically do not pay overdrafts if:
  • You do not bring your account to a positive balance within every thirty (30) day period for a minimum of 24 hours
  • You are in default on any loan or other obligation to Tompkins
  • You are subject to any legal or administrative order or levy
  • Your use of the Overdraft Courtesy has been excessive or abusive











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