An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay the item, resulting in a negative balance on your account. We can cover your overdrafts in two different ways:
We do authorize and pay overdrafts for the following types of 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.
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to by selecting the first checkbox below and completing this authorization form:
Fees charged are as follows:
If you also want us to authorize and pay overdrafts on ATM and one-time debit card transactions, check the first block below and complete the rest of the information in this form and then you sign. You may hand this form to BSV employee; mail it to: Overdraft Administrator, The Bank of Southside Virgina, PO Box 40, Carson, VA 23830, fax to 434-246-8402 or provide the information electronically in the section below. If you do not opt-in by following these steps, banking regulations prohibit BSV from including your Bounce Protection line in the available balance when authorizing ATM or one-time debit card transactions.