What is Overdraft Privilege?
Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction.

Even if you have overdraft protection, such as a transfer from another account, Overdraft Privilege is still available as secondary coverage if the other protection sources are
exhausted.

Please be aware that the Overdraft Privilege amount is not included in your balance provided through online banking, mobile banking or First International Bank & Trust ATMs.

How much does Overdraft Privilege cost?
When used, you will be charged a fee of $30 for each overdraft transactions paid. The Paid Overdraft Item Fee of $30 per item will be imposed for overdrafts created by checks, ACH, point-of-sale, ATM withdrawals, in-person withdrawals, or by other electronic means. If multiple items would overdraw your account on the same day, each item would be assessed the appropriate fee.

This is the same fee that First International Bank & Trust charges for items returned to the payee due to insufficient funds. If your account balance remains overdrawn for longer than 7 calendar days, we will charge your account a Continuous Overdraft Balance Fee of $30 each 7th calendar day the account remains overdrawn, beginning with day 7. If the 7th day is a non-processing day (Saturday, Sunday or a Holiday), the fee will be assessed to the account on the business day prior to the non-processing day. We will not charge the continuous Overdraft Balance Fee if the outstanding overdraft balance is $10 or less.

Overdraft Privilege may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within thirty (30) days for a minimum of one business day. First International Bank & Trust may provide you with Overdraft Privilege at the time of account opening with a limit of $100. Depending on the type of account you have, the Bank may increase your Overdraft Privilege limit after your account has been opened at least 35 days for consumer accounts and 60 days for business accounts. If your account has been maintained in good standing, you will receive a letter approximately 35 days after account opening, for consumer accounts, or after 60 days, for business accounts, informing you of your increased Overdraft Privilege limit.

For consumer accounts, there is a limit of 7 Paid Overdraft Item Fees or Returned Item Fees ($210) per day we will charge. We will not charge a Paid Overdraft Item Fee or Returned Item Fee for any item of $10 or less that causes an overdraft or if a consumer account is overdrawn by $10 or less. These exceptions do not apply to business accounts. All fees and charges will be subtracted from your available Overdraft Privilege limit amount. Your account may become overdrawn in excess of the Overdraft Privilege limit amount as a result of the assessment of a fee. The total negative balance, including all fees and charges, is due and payable upon demand. Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all such amounts, as described in the Deposit Account and Disclosure Agreement.

What if I don’t want Overdraft Privilege?
You can request to discontinue the Overdraft Privilege service in its entirety at any time by contacting us at 800-359-8092 or stopping by a branch. Without Overdraft Privilege, your insufficient funds items will be returned to the payee and/or declined at the point of purchase, unless you have Overdraft Protection available to cover the item(s). You will be charged the standard Returned Item Fee of $30 for all returned items.

What if I want First International Bank & Trust to pay my ATM and everyday debit card overdrafts (extended coverage)?
If you want us to authorize and pay overdrafts caused by ATM and everyday debit card transactions (Extended Coverage), tell us by using one of the following methods.

  • Complete the online consent form by logging into online banking
  • Call 1-800-359-8092
  • Print the online consent form in online banking and mail it to:                                                         PO Box 607, Watford City, ND 58854
  • Visit one of our convenient local branches
  • NOTE: Business accounts automatically have access to Overdraft Privilege
    for ATM and everyday debit card transactions (Extended Coverage).

What else do I need to know?
We typically post transactions in the following order: 1) Internal Items 2) ATM/POS items (smallest amounts to largest), 3) ACH (as received), and 4) checks (in numerical sequence, lower check numbers are paid first). The order in which transactions are posted may impact the total amount of overdraft or return fees assessed.

A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts.

Although under payment system rules, First International Bank & Trust may be obligated to pay some unauthorized debit card transactions, First International Bank & Trust will not authorize debit card or ATM transactions unless there are sufficient available funds including overdraft coverage) to cover the transactions and the amount of any fee(s).

Giving us your consent to pay everyday debit card and ATM overdrafts may result in you incurring paid overdraft item fees for transactions that we would otherwise be required to pay without assessing an paid overdraft item fee. However, this may allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may also help you avoid overdrafts in excess of your available funds that could result in suspension of your debit card.

First International Bank & Trust will not pay items if your account does not contain available funds (including the Overdraft Privilege limit) to cover the item(s) and the amount of any fee(s).

We may suspend your debit card use if you incur overdrafts in excess of the available funds in your account including any Overdraft Privilege limit.

First International Bank & Trust authorizes and pays transactions using the available balance in your account. The available balance is comprised of the ledger balance (collected funds) less any debit card holds, and does not include any deposited funds on hold. First International Bank & Trust may place a hold on deposited funds in accordance with our Deposit Account Agreement and Terms and Conditions disclosure. If the funds in the available balance are not sufficient to cover a transaction, any available Overdraft Protection and/or the amount of the Overdraft Privilege limit, may be used to authorize and pay a transaction.

First International Bank & Trust will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends, the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available blance and the transaction is posted to the available balance, a Paid Overdraft Item Fee may be assessed.

Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.

Overdraft Privilege may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within thirty (30) days for a minimum of one business day.

What types of transactions does Overdraft Privilege cover?
The types of transactions covered by Overdraft Privilege depend on the coverage selected.
*If you choose Extended Coverage, all the transaction types listed in Standard Coverage are included, along with ATM withdrawals and everyday debit card transactions. First International Bank & Trust will not authorize overdrafts for everyday debit card and ATM transactions on consumer accounts unless you give us your consent to pay these overdrafts by electing Extended Coverage. Business accounts automatically have Extended Coverage.

Standard Coverage (No action required)

  • Checks
  • ACH – Auto Debits
  • Recurring Debit Card Payments
  • Online Bill Pay Items
  • Online Banking Transfers
  • At the Teller Window
  • Telephone Transfers

Extended Coverage (Your consent required*)

  • Checks
  • ACH – Auto Debits
  • Recurring Debit Card Payments
  • Online Bill Pay Items
  • Online Banking Transfers
  • At the Teller Window
  • Telephone Transfers
  • ATM Withdrawals
  • Everyday Debit Card Transactions