Frequently Asked Questions
Select a question below and click for answer.
What is an overdraft?
An overdraft occurs when you do not have enough money in your account to cover a
payment you have authorized.
How can I avoid overdraft fees?
The best way to avoid overdraft fees is to closely monitor your account and keep
accurate records of your transactions. You can do this by keeping a check register
(available at any Susquehanna Bank office) and listing all of your deposits and
withdrawals (checks, ATM and debit card transactions, bill payments and other withdrawals).
Susquehanna Bank also provides a variety of free resources to help you monitor your
spending including Online Banking, Mobile Banking, and Direct Dial (800.311.3182).
What is the difference between standard overdraft practices
and Overdraft Protection?
Standard overdraft practices refer to the bank’s discretionary decision making process
regarding paying or authorizing transactions which would overdraw an account. Overdraft
protection plans refer to the option of linking a checking account to other Susquehanna
Bank deposit accounts or lines of credit to cover overdrafts.
Does Susquehanna Bank offer overdraft protection plans?
A variety of overdraft protection options are available to you. These include linking
your checking account to a Susquehanna Bank savings, money market, another checking
account or line of credit. If you request a transaction which would overdraw your
checking account, an automatic transfer is made to cover the transaction and any
fee, up to your available balance or credit limit. Transfer fees of $10 may apply,
and are less than the standard $40 overdraft fee.
What kinds of transactions require customer consent allowing
Susquehanna to apply its standard overdraft practice?
Customers must provide consent for Susquehanna’s standard overdraft practice on
everyday or one-time debit card transactions as well as withdrawals made through
Is my consent needed for checks or recurring payments
from my account?
No, only ATM and everyday debit card transactions require customer consent. Automatic
bill payments (such as gym memberships or utilities that draft automatically from
your debit card), checks and other transactions made using your checking account
number will be handled by Susquehanna standard overdraft practices. We may authorize
and pay overdrafts on these transactions and a $40 overdraft fee per transaction
may be incurred. Susquehanna Bank pays overdrafts at our discretion, which means
that we do not guarantee that we will always authorize and pay any type of transaction.
If I do not provide consent, how could this impact me?
If you have not authorized us to assess overdraft fees for ATM and debit card transactions,
those transactions would generally be declined if you do not have sufficient funds
in your account. For example, if you went to the grocery store and attempted to
pay using your debit card without sufficient funds available in the account, your
transaction would be declined.
If I provide my consent for the bank to apply standard
overdraft practices to all types of transactions, what does that mean?
It means that Susquehanna Bank will not treat ATM and everyday debit card transactions
any differently than it does any other transaction in the matter of overdraft practices.
If I provide my consent for the bank to apply standard
overdraft practices will the bank always pay my ATM and everyday debit card transactions?
No. Susquehanna Bank does not guarantee that your ATM and everyday debit card transaction
will be paid even if you provide your permission. These standard overdraft practices
are an accommodation provided at the bank’s discretion.
If I do NOT provide my consent to the bank to apply
standard overdraft practices to ATM withdrawals and everyday transactions, does
it mean that I will never overdraw my account for these transactions?
No. There are limited circumstances when it will not be possible for the bank to
avoid paying an ATM or other debit card transaction you made, even if there is not
enough money in your account. You should not assume that because the ATM or other
debit card transaction goes through that there is enough money in your account to
cover it. In these cases, the bank may not charge you an overdraft fee, but you
still must re-pay the bank to cover the overdraft.
When do I need to notify Susquehanna Bank if I want
the bank to apply its standard overdraft review practices for everyday debit card
transactions and ATM withdrawals that overdraw my account?
After you review the Susquehanna Bank
What You Need to Know about Overdrafts and Overdraft Fees, you may notify
Susquehanna Bank any time. Once you notify Susquehanna Bank your decision will become
effective after we confirm receipt of your notice.
Whether you consent to overdraft fees for everyday debit card transactions and ATM
withdrawals or not, you can change your decision at any time by notifying Susquehanna
How can I notify Susquehanna Bank that I want the bank
to apply its standard overdraft practices for everyday debit card transactions and
ATM withdrawals that overdraw my account?
You may notify us by:
If I have a joint checking account, do we both need
to provide our consent?
No. Any owner may provide consent. The authorization applies to the account, not
Is there a deadline to provide my consent?
You can provide authorization now or at any time.
Can I change my decision to continue this service?
Yes. You can change your decision at any time.
If I have an overdraft protection plan linked to my
checking account, do I still need to decide whether or not to instruct Susquehanna
Bank to consider authorizing and paying everyday debit card transactions and ATM
withdrawals that overdraw my account?
Yes. Even with an overdraft protection plan linked to your checking account, it
is possible that you might not have enough funds or credit available to cover an
everyday debit card transaction or ATM withdrawal. In that event, the transaction
could be denied. If you have instructed Susquehanna Bank to consider authorizing
and paying these items on your behalf, you may still be able to complete your transaction.
- For more information, call or stop by an office today.