Overdrafts

An overdraft happens when you don’t have enough money in your account to pay for a transaction you’ve already made. Essentially, you go over your account balance or bounce a check and this can result in transactions being declined and/or returned.

Why It's Important

Going over your account balance or bouncing a check can result in transactions being declined and/or returned, but also your account can be charged Insufficient Funds and daily Overdraft fees for check, in-person withdrawal, ATM withdrawal, and other electronic transactions. See our Agreement Center or speak with a banker for more details.

Overdraft Protection Options

Zions Bank® offers Overdraft Protection options to help you prevent overdrafts. 

  • Overdraft Deposit Transfer Service[cite::331::cite] — Available to consumer and business clients. Clients can link a coverage account (Zions Bank savings, money market, or secondary checking account) to your primary checking account and available funds are automatically transferred to prevent overdrafts if the balance on your primary checking account is too low.
  • Check Reserve Credit Line[cite::332::cite] — Consumer clients can apply for an overdraft line of credit, and the line of credit automatically transfers available funds to cover overdrafts on your primary checking account.
  • Business Line of Credit[cite::2090::cite] — Business clients can apply for a business Line of credit, once linked the line of credit automatically transfers available funds to cover overdrafts on your Zions business checking account.

 

Zions Bank Continuing Overdraft Changes

Beginning August 19, 2020, our Overdraft Service Fee is changing. The Overdraft Service Fee, which was charged daily to overdrawn accounts, will be discontinued and replaced with a Continuing Overdraft Fee (“COF”).

What is the Continuing Overdraft Fee?

A COF of $30 will be charged if your account remains overdrawn more than $5.00 for 7 consecutive calendar days. This fee will be charged for up to three consecutive 7-calendar day periods that your account is overdrawn more than $5.00.

Example: Let’s say that on a Tuesday you overdraw your account by $10 (in other words, by more than $5.00). Tuesday will be the first calendar day we count when determining whether your account will be charged a COF. If your account remains overdrawn more than $5.00 for an additional 6 consecutive calendar days (in other words, for a total of 7 consecutive calendar days), we will charge a COF to your account following the close of business on the seventh calendar day (the following Monday).

There is an exception to this rule: if the seventh consecutive calendar day your account is overdrawn by more than $5.00 falls on a Saturday, Sunday, or bank-observed holiday, the COF will be charged only if your account remains overdrawn by more than $5.00 at the close of business on the next calendar day we are open for business. This example is illustrated in the table below.

overdraft information calendar

How can I avoid the Continuing Overdraft Fee?

You can avoid being charged a Continuing Overdraft Fee by not allowing your account to remain overdrawn more than $5.00 for seven consecutive calendar days. You may check your account balance (and make a deposit to your account) anytime through our online and mobile banking services or by visiting a bank branch during business hours.