There are some simple ways that you can avoid overdrafts and the fees associated with them. Here are a few tips.

Tips for Avoiding Overdrafts

  • Keep a register on your account and reconcile it often.
  • When you write a check or use your ATM/Debit card, record the transaction in your register immediately.
  • Don't forget to record ACH deductions such as utility bills, loan payments, insurance premiums, etc.
  • Remember to allow for service charges and/or check order fees on your accounts, if any.
  • Don't rely on "float", which refers to the time between when you write the check and the time when it clears the bank. Today, most checks clear within a day or two, if not immediately. Most ATM/Debit card transactions are deducted from your account instantly. 

Peoples Bank and Trust Company also offers tools that will help you avoid overdrafts, including:

  • Free Internet Banking, which allows immediate transfers between accounts and daily monitoring of account activity.
  • Night Depository, which allows you to drop your deposits off when the bank is closed. Deposits are credited early the next business day.
  • Extended hours on Friday afternoons and Saturday morning banking.