Don't Let This Happen to You...

What You Need to Know About Overdrafts, Overdraft Fees and Your Options

As a valued Mercantile Debit and ATM card user, we know how much you have come to appreciate the value and convenience your cards provide. Using your debit or ATM card makes your purchases and payments simple and fast, but depending on your account management style, it may also make it easier to overdraw your checking account and incur fees associated with overdraft services. As a result, the federal government has created new regulations regarding all overdraft protection programs, which went into effect on July 1, 2010.

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 a savings account, which may be less expensive 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 do not authorize and pay overdrafts for the following types of transactions unless you ask us to:

  • 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 if I want Mercantile Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 217-223-7300 or complete and submit the form below. You may also print and return it to any branch or mail it to: Mercantile Bank, PO Box 3455, Quincy IL 62305-3455.

Opt In Form

I hereby request that Mercantile Bank add the account indicated below to the Overdraft Privilege Program. I understand and agree that by opting into the Overdraft Privilege Program,* Mercantile Bank will, at their discretion, pay debit items against my checking account and any future non-sufficient funds (NSF) items (including, but not limited to checks, recurring debit transactions and automated clearing house (ACH) transactions) presented on the account below and charge my account fees as detailed below.

I understand and agree:

- Overdrafts are paid at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

- We will not cover overdrafts for ATM withdrawals and debit card purchases you make at a store, online, or by telephone, unless you have separately opted-in for overdraft coverage of these transactions.

- A fee of $28.00 is charged each time we pay an overdraft, with a limit of 4 per day. An overdraft fee is not charged if your account is overdrawn by less than $10.00.

- If your account is overdrawn for more than three business days, we will charge an additional $3.00 per day.

*Mercantile Bank will normally pay overdrafts within the Overdraft program limit, however, payment is a discretionary courtesy and not a right or obligation.

Please note:This election is only for the account referenced above. If you have more than one checking account, please complete and submit a separate form for each account

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