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.
This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
  • Checks and other transactions made using your checking account number
  • Automatic bill payments
We will not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
  • ATM Transactions
  • Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.
  • Note: Excluding Smart Spend Checking – for these accounts, bank does not authorize and pay overdrafts for checks and other transactions made using your checking account number.
What fees will I be charged if Tompkins Community Bank pays my overdraft?
Under our standard overdraft practices:
  • We will charge you a fee of $38 each time we pay an overdraft.
  • There is a daily limit of $228.00 on the total fees we can charge you for overdrawing your account per day.
  • Note: Excluding Smart Spend Checking - The election for ATM and everyday debit card transactions does not apply to Smart Spend Checking Overdraft fees will not be charged to a Smart Spend Checking Account.
What if I want Tompkins Community Bank to authorize and pay overdrafts on my ATM and everyday debit transactions?
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions complete and submit the secure form below. Be certain to include each checking account number you wish to opt-in. You may also call 1-888-273-3210 or print this page and present it at a branch or mail to:

Deposit Operations
Tompkins Community Bank
PO Box 460
Ithaca, NY 14851
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