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, but we pay it anyway. We can cover your overdrafts in two different ways:

  1. We have standard overdraft practices that come with your account.

  2. We also offer overdraft protection plans, such as a link to another account or a line of credit, which may be less costly than our standard overdraft practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices.


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 will not authorize and pay overdrafts for the following types of transactions without your consent.
    • 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 The Exchange Bank of Alabama pays my overdraft?

  • Under our standard overdraft practices:
    • We will charge you a fee of up to $35 each time we pay an overdraft
    • We will not charge you a fee if your account is overdrawn by $5 or less on any given day
    • There is a limit of $175 per day on the total fees we can charge you for overdrawing your account

What if I want The Exchange Bank of Alabama to authorize and pay overdrafts on my ATM and everyday debit card transactions?

  • If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, complete the form below, call 256.547.2572, stop into a branch or mail a letter to: 923 Cleveland Ave Attalla, Alabama 35954. You can revoke your authorization for The Exchange Bank of Alabama to pay these overdrafts at any time by any of the above methods. Your revocation must include both your name and your account number so that we can properly identify your account.

First Name is required.

Last Name is required.

Email is required.

Account Number is required.

Phone Number is required.

Please select your overdraft coverage preference.

By submitting your preference electronically, you agree to receive an electronic verification notice to the email address entered above.

XBA Financial ServicesGadsden Mortgage Services
Regular Office Hours: 256.547.2572 | Exchange Info Line 256.570.0999
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