What is an overdraft? An overdraft is caused when an item is presented to the bank that exceeds funds in an account. An item may be a check, automatic withdrawal, or other debit. SBSU typically returns such item(s) to the depositor for non-sufficient funds. SBSU offers two products that are designed to cover such items, as follows:

SureCash

State Bank’s SureCash is low-cost overdraft protection offered on approved credit. If funds are needed to pay for items that exceed the balance in your checking account, SureCash is called upon, in $100 increments, to complete the transaction(s).

• SureCash covers ATM and POS purchases with a SBSU debit card, up to the available credit limit.
• SureCash transfers to your SBSU checking account $3 each (four $100 transfers are counted as one for a total cost of $3).
• You must have a linked SBSU checking account.
• State Bank is an Equal Opportunity Lender.

To apply for SureCash, read the following and click the ‘Apply for SureCash’ button below

• Click Apply Now after clicking the button below
• Fill in your personal information
• Select SureCash at the Account Selection stage

Overdraft Permit / Emergency Cash

The Overdraft Permit (ODP) provides basic overdraft coverage. The ODP is automatically extended to most checking accounts. It remains in the background and costs nothing unless it is used. When it is used, however, SBSU charges our normal OD/NSF fee for any item presented that exceed the account funds (refer to our fee schedule), including items covered by the ODP.

Interest accrues on an overdraft balance at 18% per annum.

The ODP initially covers only checks and automatic debits. To use your ODP with your debit card, call us at (435) 865-2394 and opt into our Reg E Overdraft Service. We will then make your ODP available at ATMs or POS terminals (Point of Sale).

Cancellation: You may opt out of the ODP by calling us at (435) 865-2394. There is no charge for opting in or out.

Limits to the Overdraft Permit

Dollar Limits

• $500 –SBSU High Interest, Cash Back, Eats, Play, and legacy accounts Free Checking, Classic 55, BIG Interest, Student, and Small Business.
• $1000 – Emerald Elite, Interest Checking, Business Interest, and Commercial Business.

Time Limits

• The ODP is suspended if your account remains overdrawn for 15 calendar days.
• The ODP is revoked if your account remains overdrawn for 30 calendar days.

Reactivation

A suspended permit is automatically reactivated when your account is brought current. A revoked permit, however, is reactivated only after (a) your account has returned to good standing and (b) you contact us to request reactivation at (435)865-2394.

Qualifying Factors for the Overdraft Permit

• The account has been open for at least 30 days with no significant overdrafts and no returned deposit items.
• Deposits are greater than the dollar limit of your Overdraft Permit.
• Your account or its signers are not involved in legal action, such as IRS levy, bankruptcy, account seizure, or garnishment.
• Your contact information is up to date.
• Accounts that are ineligible for the OD Permit include Second Chance Checking, Public Funds, Savings, Money Market, and any account with SureCash®.
• See your nearest branch office for further details.

Notification

SBSU will send a notice when the overdraft permit is extended to new accounts. This usually occurs 30 days after an account is opened.

The Overdraft Permit is a Non-Binding Service

It does not represent any type of agreement, duty, or contract (actual or implied) between you and the bank. SBSU may honor withdrawal requests that overdraw your account at one time but not another. Items drawn wholly or partially against insufficient funds may be returned to the depositor at bank discretion regardless of your ODP status.