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Overdraft Services

 An emergency backup for your finances

When life gets busy, sometimes you lose track of how much money is in your account or there's a delay in an automatic deposit which may result in an inadvertent overdraft. When that happens, our Overdraft Services can cover you so you don't incur several costly fees and the embarrassment of a declined payment.



Overdraft Services for Personal Checking Accounts



OVERDRAFT
ACCOUNT
LINK 
OVERDRAFT
PROTECTION
LINE OF CREDIT
 DISCRETIONARY OVERDRAFT PRIVILEGE1
 OKTOPAY
SERVICE2
DETAILS
Overdraft Account Link covers certain types of overdrafts by withdrawing funds automatically (up to your available balance) from either your Rockland Trust savings account, or a separate, additional Rockland Trust checking account held in your name. You are limited to six (6) transactions from a savings or money market account per statement period. Overdraft Account Link covers overdrafts on:
  • Checks
  • Bill Pay Items
  • ACH Debit Transactions
  • ATM and Debit Card Transactions
Overdraft protection from a line of credit covers over- drafts on your checking account by advancing funds automatically from a line of credit to your checking account, up to your available credit limit.
Standard Overdraft Coverage
Discretionary Overdraft Privilege covers overdrafts on:
  • Checks
  • Automatic bill payments ACH debit transactions
Discretionary Overdraft Privilege does not cover over- drafts caused by ATM and debit card transactions. Consider enrolling in OKtoPAY to cover these transactions.
ATM/Debit Card Overdraft Coverage
OKTOPAY extends the coverage you already have with Discretionary Overdraft Privilege to include:
  • Rockland Trust Debit MasterCard® purchases ATM withdrawals
ADVANTAGES
  • Provides the comfort of knowing your checks, bill pay items, ATM, debit card transactions, and ACH transactions will be paid, up to the available balance in your savings account or additional checking account, if you overdraw your checking account.
  • Provides peace of mind by knowing transactions will be paid, up to your available credit limit, if you overdraw your checking account.
  • Offers flexibility for handling situations when unforeseen expenses deplete your account balance.
  • Helps avoid the inconvenience of bouncing checks and incurring fees that merchants charge for checks returned to them.
  • Helps assure that your automatic bill payments will be made on time, even if your account is overdrawn.
  • Reduces the chances of having your debit card declined.
ELIGIBILITY
  • Available to customers with a Rockland Trust savings or an additional Rockland Trust checking account.
  • Not available for Renew Checking customers.
  • Subject to credit approval
  • Not available for Renew Checking customers
  • Coverage is automatic for eligible for Rockland Trust customers2,3
  • Account must be in good standing
  • Not available for Renew Checking customers
  • Available to customers with personal accounts who qualify for Discretionary Overdraft Privilege
  • Opt in by completing the OKtoPAY form3
  • Not available for Renew Checking customers
FEES
  • You are limited to six (6) transactions from a savings or money market account per statement period. If you exceed this limit, a fee of $3.00 per transaction may apply.
  • $35.00 annual fee4
  • 18.00% annual percentage rate
  • $35.00 for each overdraft transaction paid (up to a maximum total overdraft charge of $175 per business day); $5.00 if your account is overdrawn by $5.00 or less5
  • $35.00 negative balance fee if your account remains overdrawn for five (5) consecutive business days.
  • $35.00 fee if the collected balance of your account is less than the available balance in your account
  • $35.00 fee for each transaction we do not pay due to insufficient funds; $5.00 for each transaction of $5.00 or less5
  • $35.00 for each item paid or returned; $5.00 if your account is overdrawn by $5.00 or less5
HOW TO GET EACH OPTION
  • Discretionary Overdraft Privilege is enabled automatically and applied at the bank's discretion.
1 Discretionary Overdraft Privilege coverage is provided at the bank’s sole discretion and can be suspended at any time without notice due to improper management of your account. Reasons for revocation include, but are not limited to: returned deposited items, excessive overdrafts, repeated continued overdraft periods, suspected fraud, or any other activity we deem to be inconsistent with our overdraft practices.
2 Bank pays overdrafts at its discretion and reserves the right not to pay. Any negative account balance caused by overdraft(s) and related fee(s) must be paid and the account balance brought to zero or positive immediately.
Customer may opt out at any time. By choosing to opt out of Discretionary Overdraft Privilege, you are instructing us to (where possible) decline or return any transaction that would overdraw your account. If you have previously opted in to OKTOPAY, and at a later date have chosen to opt out of OKTOPAY (but not Discretionary Overdraft Privilege), you are instructing us to (where possible) decline or return any ATM or Debit MasterCard transaction that would overdraw your account. In either event, your account will still be subject to the standard overdraft fees (other than for ATM and Debit MasterCard transactions) and standard returned item fees. All fees and charges are due and payable immediately.
4 This fee is waived for Rockland Complete Checking accounts.
5 This fee is reduced to $5.00 per debit transaction for deposit accounts that you have elected for coverage under the Massachusetts “18/65 Law.” There is a daily limit of no more than four (4) such charges on deposit accounts that are covered under the Massachusetts “18/65 Law.”

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