Overdraft Protection Services

At Ridgewood Savings Bank, we encourage you to manage your finances responsibly. However, we understand that oversights happen, which is why we offer a variety of Overdraft Protection Services.

Our Overdraft PROTECTION Options

Overdraft Privilege
Overdraft Privilege Plus

Ridgewood Checking and Money Market Account customers are automatically enrolled in discretionary overdraft services 30 days from account opening.*

There is no fee to participate in Overdraft Privilege. Fees occur only when items are presented against insufficient funds. There is a $30 fee for each overdrawn item. Your account must be brought positive within 30 days to be eligible to remain in good standing. Failure to repay an overdraft may result in account closure and/or reporting to credit bureaus.

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay every transaction. If we do not authorize and pay an overdraft, your transaction will be declined or your check returned unpaid.**

Overdraft Privilege may be available for:

Checks
Automatic bill payments (ACH)
Recurring card payments
Teller transactions

Contact your local branch for more information and to select your overdraft preferences.

This covers the same transactions as Overdraft Privilege, but can extend your overdraft protection to cover ATM transactions and everyday debit card purchases. Without Overdraft Privilege Plus, these ATM transactions and everyday debit card purchases will be declined if sufficient funds are not available in your account and you will not be charged a fee.

If you notify us in advance that you want to opt in to this additional service,* we will strive to pay ATM transactions and everyday debit card purchases when sufficient funds are not present to cover the amount of the withdrawal. If an item is paid, your account will be charged an overdraft fee of $30. Your account must be brought positive within 30 days to be eligible to remain in good standing. Failure to repay an overdraft may result in account closure and/or reporting to collection agencies and/or credit bureaus.

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay every transaction. If we do not authorize and pay an ATM transaction and/or everyday debit card purchase, your transaction will be declined.

Overdraft Privilege Plus may be available for:

Checks
Automatic bill payments (ACH)
Recurring card payments
Teller transactions
ATM transactions
Debit card purchases

Contact your local branch for more information and to select your overdraft preferences.

Lines of Credit/Transfers

Overdraft Line of Credit
Secured Overdraft Line of Credit
Overdraft Protection Transfer

Qualifying customers can link an unsecured line of credit to their checking account in order to cover transactions when regular funds are unavailable. Applicants may qualify for up to $2,500 in credit, subject to approval. With a linked line of credit, checks or authorized electronic withdrawals that are presented when your checking account is overdrawn will automatically be covered up to the amount of the credit line.***

Qualifying customers can link a secured line of credit to their checking account in order to cover transactions when regular funds are unavailable. No credit approval is required. Simply maintain a savings account, and up to $7,500 of that account’s balance can be held as security for the line of credit. Should a check or eligible electronic withdrawal transaction be presented against your checking account when sufficient funds are not present to cover the amount of the withdrawal, the line of credit will be automatically debited to cover the shortage, up to the amount of the security.***

Overdraft Protection Transfer links your savings account to your checking account.

If your checking account becomes overdrawn, and provided there are sufficient funds available in your savings, funds will be automatically transferred to your checking account to cover a check or authorized electronic withdrawal transaction.

This ensures that your payments are made (up to the available funds in your savings account) and can save you costly overdraft charges.**

*Student Advantage and Estate, Trust and Guardian Accounts are not eligible for Overdraft Privilege and Overdraft Privilege Plus.

**Please see the Disclosure of Service Charges for fees.

***Please see the current Consumer Loans credit terms for interest rates.

Terms and conditions subject to change without notice.

Overdraft Privilege and Overdraft Privilege Plus are non-contractual courtesies that are available to eligible individually/jointly owned accounts in good standing for personal or household use. Ridgewood Savings Bank reserves the right to limit participation to one account per household and to suspend, revoke or discontinue this service without prior notice.

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Ridgewood Savings Bank

Routing Number:

226071033

Overdraft Protection Services

Our Overdraft PROTECTION Options

Lines of Credit/Transfers

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Overdraft Protection Services

Our Overdraft PROTECTION Options

Lines of Credit/Transfers

Our tools and resources