Overdraft Protection Plans
Overdraft Coverage & Fees
Managing your checking account can be a little confusing, and we know there might be times when you may accidentally not have enough money to cover a payment or transaction. It happens, and we’re here to help with tools to make managing money a little easier.
Overdraft Protection Plans
In a perfect world, burritos would be free and overdrafts would never happen. In the real world, the free burrito has yet to be found and we all make mistakes when it comes to our money. That’s why we offer Overdraft Protection Plans (OD Protection). Think of it like a backup plan - when you link your First Commonwealth checking account to another account like a savings, we simply transfer the funds from your linked account to cover the difference if you happen to overdraw. And the best part? The overdraft coverage costs nothing until you use the service to cover your transaction(s)1.
To add overdraft protection to your primary checking account, you can link from:
- A secondary checking account
- A savings or money market account
- A line of credit account
1A transfer fee may apply.
Additional Tools to Help Avoid Overdrafting Your Account
We offer several tools to help you manage and monitor your accounts:
- Online banking and mobile banking1 provides you with 24/7 access to your accounts, including views of pending and posted transactions. You can also:
- Transfer funds between your accounts with a few simple clicks
- Set up alerts that can be sent via email or text message to help manage your money
- You can also access your account by calling our Engagement Center at 1-800-711-BANK (2265).
For additional information, see our Hometown and SmartPay Comparison.
Add or update your Overdraft Protection by calling 800.711.BANK (2265) or visit us in person.
1We don’t charge for these services but standard message, data, and internet service provider rates may apply so check with your carriers.
A Few Bank Terms You Should Know
Non-Sufficient Funds and Overdraft Items
Non-Sufficient Funds (NSF) items occur when the available balance in your account isn’t enough to cover a check or other transaction and the item is returned unpaid.
Overdraft (OD) items occur when your check or transaction exceeds your available balance but we approve the transaction as a service to you.
Fees Associated with Non-Sufficient Funds and Overdraft Items
- $35 fee for each Non-Sufficient Funds or Overdraft occurrence
- The maximum number of Non-Sufficient Funds and/or Overdraft fees you can be charged per day is four (4)
- The Overdraft fee is waived where the daily negative balance is $5 or less
- $8 continuous Overdraft fee per business day beginning on the fifth calendar day of continuous overdraft
Standard Overdraft Coverage
Standard Overdraft Coverage is when we pay overdrafts against your account at our discretion. We can’t guarantee we’ll always authorize and pay any transaction, but it’s nice to know that we may authorize and pay overdrafts for checks, automatic bill payments and ACH transactions.
We do not authorize and pay overdrafts for ATM and debit card transactions unless you choose to opt in to our standard overdraft coverage for these transactions. Choosing to opt in costs nothing unless you use the service and you can change your opt-in/ opt-out election for ATM and debit card transactions at any time by calling our Engagement Center at 1-800-711-BANK (2265) or by visiting your local office.
|Overdraft Fee1||Continuous Overdraft Fee (per business day)2||NSF Fee3|
|No Overdraft Protection||$35||$8||$35|
|OD Protection for a Hometown Checking, or Hometown Checking + Interest Package|
|Transfer from a Hometown Savings||$0||$8||$35|
|Transfer from any other First Commonwealth account||$15||$8||$35|
|OD Protection for a Hometown Checking with a Solutions Package||$0||$8||$35|
1 The maximum number of $35 Overdraft (and/ or NSF) Fees you can be charged per day is four (4) and the $15 transfer fee is charged once per day.
2 Continuous Overdraft Fee begins on the fifth calendar day of continuous overdraft.
3 NSF Fee is per item and the maximum number of $35 NSF (and/ or Overdraft) Fees you can be charged per day is four (4).