Home Federal Savings Bank

1. How will OOPS! benefit me?

It saves you the embarrassment when you make an honest mistake in your checkbook, have unplanned expenses or run short on cash between paydays. Instead of returning checks unpaid, we will automatically pay them for you, up to your courtesy overdraft limit.

2. How does OOPS! differ from Overdraft Protection?

OOPS! is free unless you overdraft. There is no monthly or annual fee and you do not have to provide a source account (i.e. savings).

3. How does OOPS! work?

When we receive an item for payment, we pay it up to your courtesy overdraft limit, including the overdraft charge. So, you have no additional returned check charges from retailers. Overdraft privileges will be suspended or revoked until the account returns to good standing.

4. Is OOPS! a loan?

No. The bank is allowing you to overdraw your account up to your courtesy overdraft limit as a non-contractual courtesy. This service can be withdrawn at any time by the bank.

5. Do I have to apply for this service?

No. OOPS! is automatically added to your account as long as it meets the requirements of our courtesy overdraft statement.

6. How do I use OOPS!?

This is automatic, too. Overdrafts are approved on your account for checks you cash at our banking centers, withdrawals, checks presented for payment, ATM withdrawals, or purchases you make with your VISA Check Card.

7. How will I know when I’m overdrawn?

We will mail you a notice when your account is overdrawn. Periodically, we will send you reminder letters advising you of your overdraft until you bring your account to a positive balance.

8. What if I go over my OOPS! limit?

When you exceed your assigned courtesy overdraft limit, items will be returned when presented for payment. An overdraft fee is still assessed.

9. Is there a charge for OOPS!?

There is no charge. There are, however, standard overdraft fees as described in our account disclosure.

10. How long do I have to repay the overdraft?

Generally, you have 30 days or less to pay any overdraft and overdraft fees. However, depending on the situation, we can ask for repayment at any time. Any deposits you make will first be applied to any overdrawn balance.

11. What happens if I can’t bring my account to a positive balance?

With OOPS! you have 30 days to bring your account to a positive balance. If at that time, you still have a negative balance, your courtesy overdraft privileges will be suspended or revoked until the account returns to good standing.

12. Will this affect my credit rating?

There is no effect on your credit rating if you clear up the overdraft in a timely manner — we encourage you to clear up the overdraft within 3-4 days.