SAFEGUARD

What You Need to Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction using your ledger balance, but we pay it anyway. We can cover your overdraft in two different ways:

1. We have standard overdraft practices (Safeguard by PSB) that comes with your account.

2. We also offer overdraft protection plans, such as a Line of Credit (Ready Reserve) for those who qualify, or automated funds transfers from a linked account. This may be less expensive than our standard overdraft practices. To learn more, ask us about these plans. 

This notice explains our standard overdraft practices (Safeguard by PSB).

What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
  • ATM transactions
  • Everyday debit card 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.
 
What fees will I be charged if Peoples State Bank pays my overdraft?
 
Under our standard overdraft practices:
  • We will charge you a fee of up to $30 each time we pay an overdraft 
  • The maximum amount of the fees we will charge, per day, for overdrawing your account will not exceed $100.
(Effective March 1, 2026, the fee for each item will be $20.)
 
What if I want Peoples State Bank to authorize and pay overdrafts on my ATM and everyday (one-time) debit card transactions?
 
If you want us to authorize and pay overdrafts on ATM and everyday (one-time) debit card transactions, you may complete the form below.
 
You have the right to revoke your decision for overdraft coverage on ATM and everyday (one-time) debit card transactions at any time by completing the form below.
 
 
If you do not wish to complete the online form below to submit your Reg E opt-in or opt-out choice, you may also call 740-342-5111, visit us in person, submit a message through your online/mobile banking, or print this form and mail to: Peoples State Bank Attn: Deposit Operations, P.O. Box 111, New Lexington, OH 43764. 









This online form submission is only for changes to your Reg E selection on payment of ATM and everyday (one-time) debit card transactions.
This form does not change your enrollment in Safeguard by PSB. If you have any questions, please contact the bank.