An overdraft occurs when there is not enough money in your account to cover a transaction when it is posted to your account. This can incur fees like overdraft and returned item fees from your bank and and additional fees from the merchant (i.e. returned check fee).
Overdrafts can be caused by any type of transaction including checks, debit card transactions, ACH and ATM. It is important to keep track of all of your transactions, including checks and automatic and scheduled payments, transfers and deposits, that have not yet posted to your account to ensure you have enough money to cover any purchases and payments you make from your checking account.
The best way to avoid overdrafts and the fees associated with overdrafts is good account management. BankSouth offers several tools and services to help you manage your account, check your balance and avoid overdrafts.
You can also use your check register to keep track of the check payments you make and other types of transactions you make including debit card, ATM, and ACH transactions. Take our Checking Navigator course to learn about good account management.
Email & Text Alerts
Receive email and text alerts to stay up-to-date on your account activity, including alerts on your daily balance and when your balance is getting low or insufficient.