We understand that mistakes happen; setting up overdraft protection on your checking account can help you avoid overdraft fees and nonsufficient funds (NSF) fees when there is not enough money in your account to cover a transaction.
Asheville Savings Bank offers three Overdraft Protection options, CourtesyStyle, LinkStyle and Overdraft Line of Credit, which provide you with benefits such as avoiding the embarrassment of returned or rejected items, avoiding charges levied by merchants, and enjoying peace of mind.
When you link another Asheville Savings Bank account (statement savings, money market or checking) to one of your LifeStyle checking accounts, funds will be automatically transferred as needed to cover an overdraft. Transfers on your SavingsStyle or MoneyMarketStyle accounts are limited to six (6) per month.
Asheville Savings Bank Overdraft Line of Credit is a personal line of credit that can be linked to one of our Asheville Savings Bank LifeStyle Checking Accounts, providing constant overdraft protection. Overdraft Line of Credit also makes it easy to borrow money at any time, simply by writing a check. Funds are transferred from the line of credit to your LifeStyle checking as needed to cover an overdraft.
After a personal checking account has been opened for at least 60 days, CourtesyStyle, a discretionary overdraft service is available to accounts in good standing**.
Money Management Counseling
You can take advantage of money management counseling by contacting OnTrack Financial Education and Counseling at 828-255-5166. They can assist you in managing your money and credit.
OnTrack offers credit counseling to individuals in Western North Carolina needing help with financial planning, money management skills, and credit issues. Educational classes are offered and in-person appointments are available with certified financial counselors in the areas we serve.
Your personal credit counselor will work with you to:
- Assess your current financial situation
- Develop a spending plan that meets your needs
- Establish financial goals you can achieve
Also visit Financial Well Being, click here.
Excessive Overdraft Notices
In compliance with FDIC guidance, Asheville Savings Bank sends a notice to those customers who have had 6 or more overdraft occurrences (items paid and fee assessed) within a rolling twelve (12) month period. If you wish to discontinue receiving these notices, please contact one of our banking centers for more information on how you can elect to discontinue any further notification.
*Subject to credit approval.
**Good Standing generally means:
- Regular deposits are made which are sufficient to cover transactions
- Account balance has not been overdrawn more than a specified number of days
- No unsatisfied collection actions
- No legal orders (liens, levies, court ordered holds, bankruptcies) are outstanding on the account
Talk to our convenient banking center if you feel the overdraft protection programs are not right for you. You may opt-out (decline) participation in the programs. Be aware if you opt-out of the CourtesyStyle program, your items may be rejected or returned for non-sufficient funds and you may be subject to merchant fees.
For more information about preventing and managing overdraft fees, visit the FDIC’s Web site. To obtain free access to your credit report from each of the three credit reporting agencies, we suggest visiting AnnualCreditReport.com.