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Understanding and Avoiding OverdraftsUnderstanding and Avoiding Overdrafts small

Phoenixville Federal helps you protect yourself and your accounts with common sense options. When you write a check, use your debit card or make an automatic bill payment for more than the amount in your checking account, your account becomes overdrawn.

The best way to avoid overdraft fees is to manage your account so you do not overdraw on it. Keep track of how much money is in your checking account by:
…keeping your checking register current
…paying special attention to electronic transactions
…not forgetting about automatic payments
…reviewing your account statement each month

Phoenixville Federal offers two convenient ways to protect your account and your reputation!

  1. Overdraft Protection: Link your checking account to a Phoenixville Federal savings account and, should it happen that you overdraw your checking account, the bank will transfer sufficient funds from your savings account for a small transfer fee.
  2. Overdraft Privilege: Phoenixville Federal offers a courtesy overdraft protection as long as you maintain your account in good standing. There is no annual fee or interest charge but there is a fee each time the bank pays an overdraft for non-sufficient funds. The bank may revoke Overdraft Privilege at any time without notice.
    • If your account is negative for 45 consecutive days, it may be closed by the bank. A collection processing fee of $100.00 will be added to any accounts sent to a third party for collection.

Please refer to the Phoenixville Federal Schedule of Services & Fees for current overdraft and transfer charges or contact your local branch to learn more.

OPT-IN to ODP Service

Overdraft Privilege or Overdraft Protection on ATM / POS Debit Card Transactions

We know that sometimes mistakes happen. That's life. Most customers appreciate that we honor their transactions so they have the convenience of making essential purchases with their debit card whenever necessary.

By agreeing to Opt-in you:

  • save the embarrassment of a declined transaction.
  • don't pay for the service unless you need it.
  • can change your decision at any time.

If you Opt-out, we must decline your purchase when there are insufficient funds available. It's simple and easy... and could save you time and money in the long run. See Opt-In Notice here.


About Credentials & Passwords

On-line security is important to us and we want to help keep you safe. Our secure systems protect your information and our multi-factor sign-on process ensures that only you have access to your accounts and information via On-Line Banking. We are committed to preserving your confidential information. 

Your credentials to sign onto our systems serve as your keys to access your information on-line. Here are some tips to help keep your information safe: 

  • We will never call, email or communicate to you asking for your password(s). If you receive a communication asking you for this information, contact us immediately. 
  • Similarly, we will never send emails to you asking you to verify your account information or to sign-on to On-Line Banking in order to confirm your identity. Again, if you receive emails such as this, ignore them or contact us for further instructions. 
  • Use complex, hard-to-guess passwords. Don’t use your name, family names, pet names, parts of your address, or other easily determined words. Do use a combination of letters, numbers and special characters. Avoid using real words that are found in a dictionary.

Will Phoenixville Federal Ask for My Password?

While Phoenixville Federal may contact a customer regarding his or her account or suspicious activities related to his or her account, we will never ask the customer to provide his or her log-in credentials over the phone or via e-mail.


Reporting Suspicious Activity

If you ever suspect or have questions regarding fraudulent activity, please call 610-933-100 or visit our Contact Us page.



Electronic Banking Protections

As a Phoenixville Federal Bank & Trust customer, you are afforded all of the protections set forth by the FDIC regarding electronic transactions (Reg E)* from ATMs, debit card use, telephone banking, point of sale terminals, or any preauthorized transfers to/from a consumer's account (direct deposits, etc.).

*Please note that Reg E protections do not cover Business Accounts, Cash Value Cards, or Gift Cards.

If you have any questions or concerns, please contact us at 610-933-1000 or visit our Contact Us page.


Tips for Business Customers

We suggest that business online customers perform internal risk assessments and evaluate their security controls periodically. The goal of performing a review of operational business controls will assist in the mitigation of any fraudulent or online attack schemes. This could include malware compromise, phishing, and vishing attacks.


Suggested Sites for Further Online Security Information

A list of recommended controls and prudent practices that customers should implement when using the institution’s remote financial services include: 


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