logo SureCash Overdraft Protection

State Bank offers inexpensive overdraft protection through our SureCash Line of Credit. Funds are transferred automatically in $100 increments and cost $3 per transfer. Please stop by your nearest branch to fill out an application or apply online. SureCash requires credit approval. State Bank is an Equal Opportunity Lender. The SureCash line of credit is available for ATM withdrawals and Point of Sale purchases (through your debit card).

Apply for a SureCash Line of Credit (You must have an existing SBSU Checking account.)

logo Overdraft Permit / Emergency Cash

If you need emergency cash, “Opt-in” to our Reg E Overdraft Service by calling our OD Permit Specialists during business hours at (435) 865-2394 or (435) 865-2396. After doing so, you may access funds remaining on your OD Permit at an ATM or POS terminal (Point of Sale).

Caution: this is not a low-cost overdraft service. We still charge our normal fee for each overdraft item presented to the bank. The Overdraft Permit is issued to qualified customers (excluding those with SureCash) and may be suspended or revoked if the account is not returned to a positive balance within a timely manner.

Cancellation: You may “Opt-out” of this service at anytime by calling our OD Permit Specialists during business hours at (435) 865-2394. There is no charge for opting in or out.

logo What Causes an Overdraft?

An overdraft is caused when an item is presented at the bank for payment that exceeds the funds available in an account. An item may be a check, ATM or POS transaction, automatic withdrawal, returned deposit item, withdrawal against funds upon which the bank has placed a hold, or any combination of the above.

logo What is the overdraft permit?

This courtesy program allows the bank to pay items against non-sufficient funds (NSF) up to certain limits, which may help you avoid the cost and hassle of dealing with returned checks.

The Overdraft Permit (ODP) remains in the background and costs nothing unless it is used. When it is used, however, we charge our normal NSF fee (see our fee schedule).

Note: If you have SureCash, you already have our best overdraft protection and do not need the Overdraft Permit.

logo ATM and POS (Point of Sale) Transactions

Normally, you cannot tap into your ODP for an ATM withdrawal or Point of Sale purchase (POS). Transactions that might overdraw your account are declined to prevent unwanted fees.

However, if you request it, we have the ability to make your ODP visible to ATM and POS networks so that you can proceed with transactions that might otherwise be declined. Contact us and enroll in our Reg E Overdraft Service to make your Overdraft Permit available to ATM/POS networks. Transactions that draw upon your OD Permit will be subject to overdraft fees.

logo How much does the Overdraft Permit Cost?

There is no cost unless you use it. However, we charge our normal overdraft fee (see our fee schedule) regardless if we pay or return the item. The benefit of having an active Overdraft Permit is that we may pay the item, therefore avoiding even more fees imposed by the depositor. Interest accrues on an overdraft balance at 18% per annum. Typical interest on a $300 overdraft balance for two weeks is about $2.08.

This Permit is Valuable -- Keep it Active: Checks returned for insufficient funds can get expensive. Retailer fees (typically $25) combined with bank NSF fees (see our fee schedule) often add up to more than the original check. An active overdraft permit may help you avoid some of the expense and embarrassment of dealing with returned checks.

logo Limits to the Overdraft Permit

There are limits to this program. We expect that you will return your account to a positive balance within 15 calendar days of the first overdraft. And our willingness toward paying items into the overdraft extends no further than the following:

  • $300 - Any type of free checking (including Classic 55)
  • $500 - All other checking
  • See your nearest branch office for additional restrictions and limitations.
  • Applies to personal and business checking accounts.

logo Qualifying Factors for the Overdraft Permit

  • Account has been opened 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.
  • Those who sign on the account are neither currently delinquent nor involved in a past charge-off with any other SBSU loan or account.
  • Current contact information is on file at the bank.
  • Account or customer is not the target of an IRS levy or other legal proceeding (i.e. garnishment or bankruptcy).
  • Savings, Money Market and all Non-Profit checking accounts are excluded.
  • See your nearest branch office for further details.

Notification: SBSU sends notice in the mail when the overdraft permit is extended to qualifying customers. This usually occurs 30 days after an account is opened.

Accounts With SureCash Are Not Eligible: SureCash* is an alternate program for overdraft protection that requires an application and credit approval. Accounts with SureCash already have great overdraft protection and are not eligible for a separate Overdraft Permit.

The Overdraft Permit is a Non-Binding Service: SBSU reserves the right to return any item at any time drawn on uncollected or insufficient funds without notice and without suspending or revoking this permit.

This non-binding overdraft permit is provided only as a service and does not represent any type of agreement or duty (actual or implied) between SBSU and its customers. Banks, including this one, are never bound, obligated, or required to pay an item that causes an overdraft in an account. The Overdraft Permit nether changes nor modifies State Bank's duty or obligation with respect to paying or returning items that cause an overdraft.

* SureCash requires credit approval. State Bank is an Equal Opportunity Lender