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Overdraft Privilege


Having a check returned due to insufficient funds can be a costly and humiliating experience. That’s why we provide “Overdraft Privilege,” a special service for Southside Bank checking account customers. Next Checking, Spirit Checking and Advantage Investment Accounts are excluded.

Overdraft Protection gives you an extra level of protection against unanticipated cash flow emergencies and account reconciliation errors.

At Southside Bank, we do not encourage overdrafts. As always, we encourage you to manage your finances responsibly. The purpose of this privilege is to save you from the embarrassment, additional merchant fees or other problems that might result if a check is returned.

What is Overdraft Privilege?
Overdraft Privilege is an overdraft limit that is automatically assigned to your account. There is no action required on your part. However, payment of overdrafts caused by ATM and everyday debit card transactions such as point of sale (POS) transactions will only be authorized if you have opted-in to that service.

How does Overdraft Privilege work?
As long as you maintain your account in good standing (defined as making regular deposits and bringing your account to a positive balance at least once every 30 days), Southside Bank may honor up to the Overdraft Privilege limit on your account.

What does my Overdraft Privilege service cost?
There is no additional cost associated with this privilege unless you use it. However, you should keep in mind that you will be charged our overdraft fee of $30 for each item paid. This fee applies to overdrafts created by check, in-person withdrawal, ATM withdrawal, debit card purchases or other electronic means.

What is my Overdraft Privilege limit?
Overdraft privilege of $600 is available on regular consumer accounts ($200 for accounts opened less than 6 months). Next Checking, Spirit Checking and Advantage Investment Accounts are excluded.

How do I know when I use the overdraft limit? What if I go beyond my Overdraft Privilege limit?
You will receive an overdraft notice in the mail each time items are paid. Overdrafts above and beyond your established Overdraft Privilege limit may result in a check or checks being returned to the payee. The normal overdraft fee will be charged per item and assessed to your account. So as not to exceed your limit if you use Overdraft Privilege, you should note that the amount of the overdraft plus our standard overdraft fee of $30 for each item will be deducted from your overdraft limit.

How quickly must I repay my Overdraft Privilege?
You should make every attempt to bring your account to a positive balance within 30 days. If you are not able to do so, you will receive a letter from Southside Bank informing you of the situation and your options. If, after a period of time, your account has not been brought to a positive balance, we may suspend your Overdraft Privilege limit and take other steps to recover funds.

What if I do not want to have Overdraft Privilege on my checking account?
In the event you would like to have this service removed from your account, you may do so by calling (903) 531-7111. However, once this service is removed, you should keep in mind that if an item is presented for payment and there are not sufficient funds in your account, the item may be returned to the payee and our standard NSF fee of $30 will be charged per item.

Please note: Overdraft Privilege does not constitute an actual or implied obligation of or by the bank. The service represents a purely discretionary courtesy or privilege that the bank may provide to you from time to time and which may be withdrawn or withheld by the bank at any time without prior notice or reason or cause.