Courtesy Overdraft Coverage

If you have ever written a check or attempted to make a purchase with your Debit Card when you did not have available funds in your account, you know the expense or embarrassment it can cause. To help you avoid these situations, BankRI offers qualified customers our Courtesy Overdraft Coverage.

We generally notify customers by mail when they are qualified for this service. Check with us if you are not sure whether you received this notification. 

What You Need to Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money available in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways: 

1. We have standard overdraft practices that come with your account if you are qualified, called Courtesy Overdraft Coverage.

2. We also offer several overdraft protection plans, which may be less expensive than our standard overdraft practices. You may use a savings, money market or another checking account to cover overdrafts. We also offer a line of credit that can protect your account. To learn more about these plans, visit one of our branch locations or contact our Customer Service Center at (866) 422-6574.

What Standard Overdraft Practices Are Available to Me?

With our Courtesy Overdraft Coverage we may authorize and pay overdrafts, up to $500 (including overdraft fees), for the following types of transactions:

  • Checks and other transactions made using your checking account
  • Online banking bill payments
  • Recurring electronic payments

We Will Not Authorize and Pay Overdrafts for the Following Types of Transactions Unless you "Opt In" below: 

  • Debit Card purchases
  • ATM withdrawals

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

Click this "Opt In or Out" image to go to the Courtesy Overdraft Coverage form.

What Fees Will I Be Charged If BankRI Pays My Overdrafts?

Under our standard overdraft practices (Courtesy Overdraft Coverage):

We will charge you a fee of $35 each time we pay an overdraft.

There is no limit on the total fees we can charge you for overdrawing your account but we generally will not pay more than 5 overdrafts per day.

Frequently Asked Questions about our Courtesy Overdraft Coverage.

Additional information about our Courtesy Overdraft Coverage, including information about fees and repayment obligations, can be found in our FAQs.

For more information, please contact Customer Service at (866) 422-6574.