If an item overdraws your account $1 or less, you will not be charged a fee. Limit of 3 overdraft item fees per day. No overdraft item fee will be charged for ATM or everyday debit card transactions, unless you opt in for those transaction types.
Link to a Secondary Account For assistance with setting up, please visit one of our convenient locations or call us at 1 (877) 968-7962. |
Link to a Revolving Line of Credit (ReLi®)(4) We offer two ReLi® options - Unsecured and Secured. Both can be linked to your primary account, upon credit approval, to protect you against overdraft item fees by allowing available ReLi® funds(5) to be automatically transferred into the primary account when items are presented that would cause an overdraft to occur. |
An overdraft occurs when you do not have enough money available in your account to cover a transaction, but we pay it anyway.
This occurs when you do not have enough money available in your account to cover a transaction, and we return the item to the person or business the item was payable to.
When you do not have enough available funds in an account to cover a transaction item, at our sole discretion, we may honor that item. This will cause an overdraft on the account, and the account will be charged associated fees.
Items included:
NOT INCLUDED, BUT AVAILABLE FOR OPT-IN: ATM and everyday debit card transactions, such as groceries or gasoline
A $32 Fee will be charged for each OD item that processes against your account, up to a maximum of 3 OD fees per day. There is no charge for NSF item(s) that are returned unpaid. The Bank will only charge you up to 3 OD fees per day, and if an item overdraws your account less than $1, no OD fee is charged. No OD fee is charged for ATM or everyday debit card transactions, unless you Opt In for those transaction types.
We may honor items that overdraw your account, but this is at our sole discretion. You may visit your local branch or call us at 1(877) 968-7962 for more information about our Standard Overdraft Practices.
You should make every attempt to bring your account to a positive end-of-day balance as soon as possible. Leaving your account overdrawn for an extended period may affect the Bank honoring any future items that overdraw your account. Payment of items is at the Bank's sole discretion.
You can contact your local branch or call us at 1(877) 968-7962 to Opt-Out of Standard Overdraft Practices.
Knowing your balance may help you avoid fees. Before you make a purchase, check your balance using one of these options.
The best way to avoid OD fees or having them returned is to keep track of your account balance by entering all items in a check register or online budgeting tool, reconcile your account regularly and manage your finances responsibly. For more account management tips, please see our Account Management page.
Ways to Cover Overdrafts at Woodforest | Examples of Associated Fees* |
Good Account Management | $0 |
Account Sweep | $5.00 transfer fee |
Line of Credit (ReLi®) Unsecured | 16.99% Annual Percentage Rate (APR)** |
Line of Credit (ReLi®) Secured | 7.99% Annual Percentage Rate (APR)** |
If a mistake occurs, however, Woodforest offers the following alternatives to Standard Overdraft Practices to cover OD items:
*These costs are provided only as examples. Please ask us about our specific products and fees.
**Line of credit available only to qualifying customers.
Woodforest provides its customers with up-to-date deposit interest rates.
Discover tips and tools for managing your account, including overdraft protection options.
Take advantage of a collection of tools, including calculators and guides.
(1) We pay overdrafts at our sole discretion, which means we do NOT GUARANTEE we will always authorize and pay any type of transaction. We are under no obligation to pay items when an account has insufficient funds, regardless if previous transactions were paid. When using our discretion to pay an insufficient item, we consider whether your account is in good standing. We may determine that your account is not in good standing by evaluating all aspects of your account activity; such as, whether you are making regular deposits, you have too many overdrafts, or your account has been overdrawn for thirty-five (35) days or more. If your account is no longer in good standing, whenever possible, transactions will only be authorized and paid if you have available funds in your account at the time of the transaction. Your account may be evaluated at a later time to determine whether your account returns to a good standing. However, if you have incurred what we deem to be an excessive amount of overdraft related fees, then your account(s) will no longer be considered for our Standard Overdraft Practices. As such, whenever possible, transactions will only be authorized and paid if you have available funds in your account(s) at the time of the transaction.
(2) If you do not want us to consider any type of transaction for payment with Standard Overdraft Practices, you may opt out by speaking with a Retail Banker or calling us at 1-877-968-7962.
(3) When automatic transfers occur from a checking or savings account (also known as a "sweep"), only one transfer fee will be assessed per day, regardless of the number of insufficient items. (See our Schedule of Fees). If there are not enough funds to sweep at the time an item is presented for payment, an overdraft item fee may be assessed. Certain accounts have limits to the number of debit transactions you can make within a statement period. Please refer to the Account Overview to determine whether transactional limits and fees apply.
(4) Line of credit available only to qualifying customers. All loan products are subject to credit approval. Applicants must maintain a checking account with Woodforest. May not be available for all deposit account products.
(5) If there are not enough funds available on the ReLi Line of Credit at the time an item is presented for payment, an overdraft item fee may be assessed.