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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.

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.



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Phoenixville Federal Bank & Trust would like to personalize your banking experience. Please enter your first name below.

This level of personalization will not lead to the sale of your name or leak your identity. The information you provide will only be stored on your computer and will not be transferred to any other source.

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