Overdraft Protection Solutions
An overdraft can occur when you attempt to spend or withdraw more money than is available in your checking account. We cannot promise or guarantee those things will never happen, but we can offer options for your consideration to protect and manage your account.
Overdraft Privilege Service
Our standard Overdraft Privilege Service is a program available for Penn Security Bank customers. Rather than automatically returning unpaid certain* insufficient funds items presented for payment, we will consider, without any obligation on our part, payment of your overdrafts up to your assigned overdraft limit. If you have need to use this service, you will be charged our customary fee(s) as outlined in our current fee schedule.
*We do not authorize or pay overdrafts on ATM transactions or everyday point of purchase transactions unless you ask us to.
Special Rules for ATM Transactions & Point of Sales Debit Card Purchases
In 2010, Federal Regulations took effect that provide certain protections for bank customers when their accounts become overdrawn as a result of an ATM transaction or a Point of Sale or Debit Card Purchase. Customers now have a choice whether to opt-in to an overdraft program. If you choose to opt-in, we will pay an ATM or point of sale debit card transaction when you do not have enough money in your account to cover the transaction. By choosing this option you will be charged our customary fee(s) as outlined in our current fee schedule. If you do not opt-in, we will decline these transactions if you do not have sufficient funds in your account to cover the transaction.
To "OPT-IN" and authorize us to pay overdrafts for ATM withdrawals and point of sale debit card transactions you may incur, simply SELECT ONE of the following ways to contact us to continue with this service:
- Call us at 800 327 0394 x2241
- Print and complete an online enrollment form and mail to us at:
Penn Security Bank
150 North Washington Avenue
Scranton, PA 18503
Attention: Deposit Operations - Complete and submit the online enrollment form below
ENROLL NOW What you need to know
Q & A Answers to commonly asked questions
Lower Cost Solutions for Overdrafts
Credit Card Line of Credit Protection
A Penn Security Bank credit card line of credit can be linked to your primary checking account to provide protection against any overdrafts. In the event you do not have sufficient funds in your primary checking account, funds can be transferred from the line of credit to your checking account in increments of $50.00 to prevent an overdraft in your account. A transfer fee will be charged for this service. Please refer to our standard schedule of fees for additional information on overdraft protection fees.
It's easy to sign up for overdraft protection using your credit card line of credit. Stop by any office today for details.
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