Overdraft Services For Your Account*

Effective July 1, 2022


Overdrafts happen. At one time or another, most of us have lost track of how much money is in our accounts. Fortunately, BancorpSouth provides flexible overdraft options, which can help give you peace of mind. You can also learn about our no-overdraft personal checking account, Budget Smart, by clicking here.


Looking for the complete details of BancorpSouth’s overdraft services?


Visit the Terms, Conditions & Disclosures page for other quick links.

OVERDRAFT PROTECTION OPTIONS


Our Overdraft Protection options can help save you from the hassle of a bounced check or a declined debit card. Choose the Overdraft Protection option that fits your account. Find more information in our Overdraft Protection Terms & Conditions, effective July 1, 2022.


Section. divider

Overdraft Protection Tied to Another Deposit Account

How it Works:

Checking/Savings Account Overdraft Protection works by linking your checking account to another one of your BancorpSouth checking or savings accounts. When you overdraft one account, funds will be debited from the linked account in the amount of the transactions drawn against your insufficient funds and deposited into your checking account up to the account’s available balance.

  • Transfer Amounts: Exact amount of overdraft up to the available balance.
  • Transfer Fees: No fee (effective July 1, 2022)
  • Eligibility to Open Account: Minimum opening deposit may be required; other criteria or withdrawal limits may apply.

Section. divider

Overdraft Protection Tied to a Credit Card

How it Works:

Credit Card Overdraft Protection protects your account by charging your BancorpSouth credit card for cash advances in the total amount of transactions drawn against your insufficient funds, up to the available cash advance limit on your credit card. All Credit Card Overdraft Protection transactions are subject to the rules and finance charge provisions applicable to cash advances under the Cardholder Agreement.

  • Transfer Amounts: Exact amount of overdraft up to the available cash advance credit limit
  • Transfer Fees: 3% of transfer amount (minimum $10 / maximum $60)
  • Eligibility to Open Account: Standard credit criteria applies

Section. divider

Overdraft Protection Tied to a Line of Credit

How it Works:

Equity Credit Line1 Overdraft Protection works by issuing a line of credit and charging your credit line in the amounts of the transactions drawn against your insufficient funds, up to the available limit. An Overdraft Equity Credit Line fee and interest charges will be charged to your Equity Credit Line in accordance with the terms of your Equity Credit Line Agreement.

  • Transfer Amounts: Exact amount of overdraft up to the available credit line limit
  • Transfer Fees: $10 per transfer
  • Eligibility to Open Account: Standard credit criteria applies

Section. divider

Overdraft Protection options can be arranged at your local branch or by calling us at 1-888-797-7711.



FIND A BRANCH NEAR YOU


STANDARD OVERDRAFT SERVICES


Section. divider

Overdraft Payment Service

Learn more by reviewing the About Overdrafts and Managing Your Account and disclosure (effective July 1, 2022).

Effective July 1, 2022:

  • Paid Overdraft Item Fee (OD)2: $36
  • Non Sufficient Funds Returned Item Fee (NSF) - $0
  • For consumer accounts, OD fees will not apply when the account balance is overdrawn by $10 or less, and the total number of OD fees is limited to four (4) per day.

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.


We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions using your checking account number
  • Automatic bill payments

We do not authorize the following types of transactions if there is not sufficient available balance when the transaction is presented for approval unless you ask us to consider doing so:

  • Automated teller machine (ATM) transactions
  • One-time debit card transactions

If we do not authorize and overdraw your available balance when a transaction is presented for approval, your transaction will be declined.


Please be aware, even if you have not asked us to consider doing so, circumstances can arise within payment networks where we are required to pay ATM and one-time debit card transactions that overdraw your account.


Under our standard overdraft practices, we will charge you a $36 fee each time we pay an overdraft item if you authorize us to consider approving ATM and one-time debit card transactions without sufficient available balance in your account.


For consumer accounts:

  • If the day's ending balance is overdrawn by $10 or less, there is no fee for the paid overdraft item(s) for that day.
  • The maximum number of overdraft fees that we will assess is four (4) per day.

If you authorize us to consider approving ATM and one-time debit card transactions when there is insufficient balance in your account, you will incur a $36 overdraft fee if there is insufficient balance at the time of payment to the account unless the transaction falls within one of the exceptions for consumer accounts listed immediately above.


If you want the Bank to consider authorizing and paying overdrafts on ATM and one-time debit card transactions, call 1-888-797-7711, visiting your local branch or update within online banking.


FIND A BRANCH NEAR YOU


Section. divider

1 Available balance is the most current record we have about the funds that are available for your use or withdrawal. It includes all deposits and withdrawals that have been posted to your account, then adjusts for any holds on recent deposits and any pending transactions that are known to us. This balance may not reflect all of your transactions, such as checks you have written, automated clearing house transactions we have not received, or debit card transactions that have been approved but not yet submitted for payment by the merchant. For more information on how we calculate your available balance, please refer to the Terms & Conditions of Your Account.

FREQUENTLY ASKED QUESTIONS


Q. What causes an Overdraft?

A. An overdraft occurs when you don’t have enough money available in your account to cover a transaction.

Transactions such as ATM, ACH (credit transfers such as direct deposit, payroll and vendor payments), debit card, and bank fees can all receive an overdraft and be charged a fee.

 

Q. What are the benefits of Overdraft Protection options?

A. With overdraft protection, BancorpSouth will pay a transaction, even though you may currently not have enough money in your account to cover that transaction.

  • Avoid the hassle of a bounced check
  • Eliminate the retailer returned-check charge
  • Feel more secure with a backup plan
  • Cover non-recurring purchases
 

Q. Can I set up an alert when my balance is low or overdrawn?

A. Sign up to receive account alerts by emails and/or text messages when your balance falls below a limit that you set. In addition, you can set up an alert to be notified if your account is already overdrawn. Sign up for alerts in Online Banking.


Q. How else can online banking help me prevent overdrafts?

A. Your BancorpSouth Online Banking and MyBXS mobile app provide financial and budgeting tools to help you manage your accounts.


Q. How can I prevent an overdraft fee?

A. There are a few ways to help avoid an overdraft fee:

  • Monitor your account daily through online banking and our MyBXS mobile app.
  • Track spending. It’s easy to lose track of debit card transactions and other daily expenses if you don’t.
  • Sign up for alerts within online banking.
  • Reconcile bank statements.
  • Sign up for overdraft protection.

Q. Which accounts are eligible for overdraft protection?

A. BancorpSouth Checking and Savings accounts (excluding Budget Smart Checking). You can also learn more about our no-overdraft account, Budget Smart Checking, by clicking here.


Q. Still not sure about Overdraft Protection options?

A. We can help. Contact your local branch or call us at 1-888-797-7711.



FIND A BRANCH NEAR YOU