Important Information about Overdraft and Returned Item Fees
Accounts may be subject to Overdraft Fees, Overdraft Interest Charges, and Returned Item Fees.
Overdraft Fee*
Paying an item
drawn against uncollected/
insufficient funds |
$25 |
An Overdraft Fee may apply if Flagstar Bank, at its discretion, pays checks, wires, ACH debits and/or transfers when the account’s Available Balance is not sufficient to pay these transactions. Flagstar Bank does not authorize ATM or Debit Card transactions for which an account does not have sufficient Available Balance to pay.
|
| Overdraft Finance Charge |
Call your Private Client Group for current interest rate |
Interest will be charged on the amount of the total negative balance, including any fees, at a variable rate per annum equal to a certain percentage per annum above the Reference Rate. This amount will be identified on the account Statement as “OD Finance Charge” This fee may apply if Flagstar Bank, at its discretion, pays or returns an item presented when an account’s Available Balance is less than the amount of the item resulting in a negative balance in the account. |
Returned Item Fee*
Returning an item drawn against uncollected/ insufficient funds |
$25 |
A Returned Item Fee may apply if Flagstar Bank, at its discretion, returns an item presented when an account’s Available Balance is less than the amount of the item. |
| *Each presentment and submission is treated as a separate and new item. |