Occasional Overdraft Protection Service

What is OOPS?

Occasional Overdraft Protection Service. This courtesy overdraft service is offered to our clients who maintain their checking account in good standing. While we don't encourage overdrafts, we do know that everyone says "OOPS!" once in a while. However, at Home Federal, OOPS doesn't have to be a bad thing!

  • How will OOPS benefit me?

    This service will save 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 items unpaid, we will automatically pay them for you, up to your courtesy overdraft limit. Please refer to the Courtesy Overdraft Statement for more details.

  • How does OOPS differ from Overdraft Protection?

    There is no monthly or annual fee for OOPS. You will simply pay the per item charges for each transaction when you have an overdraft. Overdraft Protection is another overdraft service we offer our clients who have other savings or checking accounts with Home Federal to transfer from in case of an overdraft. This protection has separated fees.

  • 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.

  • What does the term "item for payment" mean?

    An item for payment will authorize a transaction deducting money from your account. Transactions include preauthorized ACH (Automated Clearing House - electronic transactions), check, electronic check, draft, debit card, bill payment order, overdraft protection, Voice Response, online banking and telephone transfers or withdrawals.

  • Is OOPS a loan?

    No. We are 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 This service can be withdrawn at any time by Home Federal.

  • 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.

  • How do I use OOPS?

    This is automatic, too. Overdrafts are approved on your account for checks, withdrawals, ATM withdrawals, electronic transactions, and any purchases you make with your Mastercard Debit Card.

Downloadable PDF

FAQs about OOPS

In what order does the bank pay items presented under OOPS?

Transactions presented to Home Federal are processed in the following order: ATM and merchant point of sale are posted before checks. ACH (electronic transactions) may post to your account at any time during the day. Checks will be cleared in check number order as presented each day.

How will I know when I'm overdrawn?

We will mail you a letter to notify you 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.

What if I go over my OOPS limit?

When you exceed your assigned courtesy overdraft limit, items will be returned when presented for payment and a returned item fee will be assessed.

So, is there a charge for OOPS?

No. There is no monthly or annual charge. There are, however, standard overdraft fees per item presented.

Overdraft Services

Fees listed may be triggered by check, in-person withdrawal, ATM withdrawal, returned deposited items, bank fee or other electronic means.


Non-Sufficient Funds Fee - Paid Item...$37.50
Unavailable Funds - Paid Item...$37.50

Non-OOPS: fees are charged each time a returned item is presented

Non-Sufficient Funds Fee - Returned Item...$37.50
Unavailable Funds - Returned Item...$37.50

Continuous Overdraft Fee per day...$7.00
(Begins on the 6th business day and charges up to 16 business days)

How long do I have to repay the overdraft?

We encourage you to resolve your overdraft within 3-4 days. Any deposits you make will first be applied to any overdraft balance.

What happens if I can't bring my account to a positive balance?

With OOPS you are encouraged to bring your account to a positive balance within 5 business days to avoid additional charges. If your account remains negative at 10 days, your courtesy overdraft privileges will be removed. However, Home Federal may ask for repayment at any time.

Will this affect my credit rating?

There is no report to the credit bureau provided your overdraft is handled within the terms of the OOPS program. However, abuse of the OOPS program may be reported.

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 cover your overdrafts in two different ways:

  1. We have standard overdraft practices that come with your account, such as our Occasional Overdraft Protection Service (OOPS).
  2. We also offer overdraft protection plans, such as a link to a savings account or an overdraft line of credit, which may be less expensive than our overdraft practices.

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

We may 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 unless you ask us to for the following types of transactions:

  • 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 Home Federal pays my overdraft?

Under our standard overdraft paractices:

  • We will charge you a fee of $37.50 each time we pay an overdraft.
  • Also, if your account is overdrawn for 5 or more consecutive business days, we will charge an additional $7.00 per day.
  • There is no limit on the total fees we can charge you for overdrawing your account.

If you want Home Federal to authorize and pay overdrafts on your ATM and everday debit card transactions, call us at 866.535.1223 to enroll.