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 your 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 line of credit or a link to another account, 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

Beginning August 15, 2010, we do 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.

What fees will I be charged if Minnesota National Bank pays my overdraft?

Under our standard overdraft practices:

  • • We will charge you a fee of up to $25 each time we pay an overdraft.
  • • The maximum number of overdraft fees that we can assess is limited to 4 per day.

What if I want to know more about this?

Check out our Frequently Asked Questions.

What if I want Minnesota National Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, complete the form below and click the send button. You may also call 320-352-5211 or 320-732-2133 or 218-863- 6688, or print and deliver a completed form to a branch or mail it to:

Minnesota National Bank
PO Box 306
Sauk Centre, MN 56378

Full Name:  
Account Number:  
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