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Overdraft Services

Introduction
There are so many demands for your time; your family, your job, and your community… just to name a few. At United Bank, we realize that you won’t always have time for your checkbook. Our overdraft protection products are safety nets that provide you with both convenience and peace of mine.

Overdraft Protection Options

Sweep Account
Protect yourself from unnecessary overdraft fees by linking a checking, savings, or money market account to your primary account. This gives United Bank the authority to automatically transfer or “sweep” funds from the secondary account to fund transactions/checks for more than can be covered in your primary account.

  • $35 annual fee will be automatically debited from your primary checking account on or about the anniversary date of your overdraft protection sweep agreement.
  • A $5.00 charge will be accessed for each automatic transfer of funds.
  • The transfer account must have a balance of at least $100 to activate an automatic transfer.

Funds will be automatically transferred in increments of $100 from the secondary account and will total an amount necessary to bring the checking account balance to or above $0.

Overdraft Protection Line of Credit
With an Overdraft Protection Line of Credit, your checking account is covered, up to the amount of your line of credit. It protects you from overdrafts and from having transactions denied for insufficient funds. Overdraft Protection is automatically activated when you exceed your checking account balance. To cover the transaction(s), funds are transferred from your line of credit to your checking account.

  • A $35.00 annual fee is paid upon approval of your credit line. After that, the fee will be automatically debited from your primary checking account on or about the anniversary date of your Overdraft Protection Agreement.
  • A $5.00 charge will be accessed for each automatic transfer of funds.
  • Funds will be automatically transferred in increments of $100 from the credit line and will total an amount necessary to bring the checking account balance to or above $0.
  • The minimum payment is the greater of $50.00 per month or 5% of the outstanding balance (principal and interest).

NOTE: Transfers from a savings or money market account are limited by federal regulations to 6 per statement cycle.


FDIC
United Bank
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Equal Housing Lender

NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE
COVERAGE FOR TRANSACTION ACCOUNTS

All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

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Please contact us at 800-423-7026 with any concerns or comments.
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