MCBank Authorization Form
* indicates a required field
In this disclosure, “We” Refers to MCBank.
By clicking the “Accept” Button below, you are agreeing to accept electronic disclosures this one time only and we will permit you to continue with the authorization form.
OVERDRAFT COVERAGE OPTIONS: OVERDRAFT PRIVILEGE AND OVERDRAFT PROTECTION
MCBank understands that unexpected overdrafts occur from time to time – Overdraft Coverage can help.
Overdraft Coverage Options
The choice is yours. Consider these ways to cover overdrafts:
|Overdraft Protection Link to Another Deposit Account you have at MCBank1
||$0 fee per transfer
||$30 Overdraft Fee per item.
11Call us at (325) 648-2216, send us a secure email through the "Contact Us" link on our website or come by a branch to sign up for this service.
Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account you may have at MCBank. There is no fee for this service.
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, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted.. You currently have Standard Overdraft Privilege Coverage in the amount of $[ODP Limit] on your account ending in [last 4 digits].
|Transactions Covered with Overdraft Privilege
||Standard Coverage (No action required)
||Extended Coverage (Your consent required)*
||If you would like to select Extended Coverage for future transactions:
- call us at (325) 648-2216,
- complete the online consent form found at www.mcbanktx.com,
- visit any branch,
- complete the enclosed consent form and mail it to us at P.O. Box 309, Goldthwaite, TX 76844
- secure email us via our website
|ACH - Automatic Debits
|Recurring Debit Card Payments
|Online Bill Pay Items
|Internet Banking Transfers
|Teller Window Transactions
|Everyday Debit Card Transactions
*If you choose Extended Overdraft Privilege Coverage, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage.
You can discontinue the Overdraft Privilege in its entirety by contacting us at (325) 648-2216 or sending us a secure email through the “Contact Us” link on our website.
Click to learn more.
WHAT YOU NEED TO KNOW ABOUT OVERDRAFTS AND OVERDRAFT FEES
An overdraft occurs when you do not have enough money in your account to cover a transaction,
but we pay it anyway. We can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans, such as a link to another account which may be
less costly than our standard overdraft practices. To learn more, ask us about these
This notice explains our standard overdraft practices.
- What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
We will not authorize and pay overdrafts for the following types of transactions without
- ATM transactions
- Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always
authorize and pay any type of transaction.
If we do not authorize and pay an overdraft, your transaction will be declined.
- What fees will I be charged if MCBank pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $30 each time we pay an overdraft
- We will not charge you a fee if your account is overdrawn by $10 or less on any
given day and/or we will not charge you a fee if the item presented is $10 or less
- There is a limit of $120 per day on the total fees we can charge you for overdrawing
- What if I want MCBank to authorize and pay overdrafts on my ATM and everyday debit card
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions,
call (325) 648-2216, visit our website at
www.mcbanktx.com, secure email us through the
"Contact Us" link on our website, complete the form below and present it at a branch or mail
it to: P.O. Box 309, Goldthwaite, TX 76844. You can revoke your authorization for MCBank to
pay these overdrafts at any time by any of the above methods. Your revocation must include
both your name and your account number so that we can properly identify your account.
WHAT ELSE YOU SHOULD KNOW
- A link to another account may be less expensive than an overdraft. A single larger overdraft will result in one
fee, instead of multiple smaller overdrafts. Use our mobile, internet, and telephone banking services to track
your balance. For financial education resources, please visit www.mymoney.gov.
- The $30 Overdraft Fee is a per item fee that is charged if you overdraw your account. If your account is
overdrawn by $10 or less or if the amount of the item on your account is $10 or less, there is no fee. If
multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft Fee of
$30. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may
become overdrawn more than the Overdraft Privilege limit amount because of a fee.
- For consumer and business accounts, there is a limit of 4 Overdraft Fees ($120) per day we will charge.
- Recipients of federal or state benefits payments who do not wish us to deduct the amount overdrawn and the
Overdraft Fee from funds that you deposit or that are deposited into your account may call us at (325) 648-2216
to discontinue Overdraft Privilege.
- If an item is returned because the Available Balance (as defined below) in your account is not sufficient to
cover the item, MCBank will not charge a Returned Item Fee. If, on re-presentment of the item, the Available
Balance in your account is sufficient to cover the item we may pay the item, and, if payment causes an
overdraft, charge an Overdraft Fee. We may use the terms "item" and "transaction" interchangeably.
- This describes the posting order for purposes of determining overdrafts. Our general policy is to post items
throughout the day and to post ACH credits before debits. 1) credits, 2) ATM and debit card transactions (low to
high by dollar amount), 3) ACH debits (low to high by dollar amount), 4) checks (low to high by dollar amount),
5) Internal transfer debits; however, because of the many ways we allow you to access your account, the posting
order of individual items may differ from these general policies. Holds on funds (described herein) and the
order in which transactions are posted may impact the total amount of Overdraft Fees 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.
- Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and
fee amounts, as described in the Deposit Account Agreement and Disclosure. The total (negative) balance,
including all fees and charges, is due and payable upon demand.
- We may be obligated to pay some debit card transactions that are not authorized through the payment system but
which we are required to pay due to the payment system rules, and as a result you may incur fees if such
transactions overdraw your account. However, we will not authorize debit card or ATM transactions unless your
account's Available Balance (including Overdraft Coverage Options) is sufficient to cover the transactions and
- Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended
Coverage) may result in you incurring Overdraft Fees for transactions that we would otherwise be required to pay
without assessing an Overdraft Fee. However, this would allow us to authorize transactions up to the amount of
your Overdraft Privilege limit. If you consent to Extended Coverage on your consumer account, it will remain on
your account until it is otherwise withdrawn.
Understanding your Available Balance: Your account has two kinds of balances: the Ledger Balance and the Available Balance.
- We authorize and pay transactions using the Available Balance.
- Your Ledger Balance reflects the full amount of all deposits to your account as well as payment transactions
that have been posted to your account. It does not reflect checks you have written and are still outstanding or
transactions that have been authorized but are still pending.
- Your Available Balance is the amount available to you to use for purchases, withdrawals, or to cover
transactions. The Available Balance is your Ledger Balance, less any holds due to pending debit card
transactions and holds on deposited funds.
- The balance used for authorizing checks, ACH items, and recurring debit card transactions is your Available
Balance plus the amount of the Overdraft Privilege limit and any available Overdraft Protection.
- The balance used for authorizing ATM and everyday debit card transactions on accounts with Standard Coverage is
your Available Balance plus any available Overdraft Protection but does NOT include the Overdraft Privilege
- The balance used for authorizing ATM and everyday debit card transactions on accounts with Extended Coverage is
your Available Balance plus any available Overdraft Protection and includes the Overdraft Privilege limit.
- Because your Available Balance reflects pending transactions and debit holds, your balance may appear to cover a
transaction but later upon settlement it may not be sufficient to cover such transaction. In such cases, the
transaction may further overdraw your account and be subject to additional Overdraft Fees. You should assume
that any item which would overdraw your account based on your Available Balance may create an overdraft. Note
that we may place a hold on deposited funds in accordance with our Deposit Account Agreement and Disclosure,
which will reduce the amount in your Available Balance.
- Please be aware that the Overdraft Privilege amount is not included in your Available Balance provided through
online banking, mobile banking or MCBank's ATMs.
- We 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 Balance and the
transaction is posted to the Available Balance, an Overdraft Fee may be assessed.
- Except as described herein, we will not pay items if the Available Balance in your account (including the
Overdraft Privilege limit, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).
Understanding Overdraft Privilege Limits
- An Overdraft Privilege limit of $100 is available for eligible Student Checking accounts at account opening that
will be increased to $300 after 30 days in good standing.
- An Overdraft Privilege limit of $100 is available for eligible Teen Checking accounts at account opening.
- New eligible Personal Checking and Business Checking accounts will receive a $100 Overdraft Privilege limit at
account opening that will be increased to $500 after 30 days in good standing.
- Overdraft Privilege may be reduced 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 32 days for a minimum of one business day. You must
bring your account balance positive for at least one business day to have the full Overdraft Privilege limit
If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at (325) 648-2216 or visit a branch.