Overdraft Solutions
Overdraft Privilege
Overdraft Privilege is a discretionary service designed to help prevent your insufficient funds items from being returned or declined. With
Overdraft Privilege, we have the option to cover your overdrafts up to your Overdraft Privilege limit (including fees) if you inadvertently overdraw
your account. This can save you the embarrassment and inconvenience of a returned or declined item, along with the fees normally charged by
merchants for items returned to them.
Lake-Osceola State Bank may provide you a specific Overdraft Privilege limit depending on the type of account you have. You will receive a letter
approximately 30 days after account opening, for consumer accounts, or after 60 days for business accounts, informing you that Overdraft Privilege
has been activated on your account. You do not have Overdraft Privilege until you receive this notification.
Please be aware that the Overdraft Privilege amount is not shown in your available balance, is not a line of credit and does not replace existing
overdraft options such as drawing funds from another account, known as Overdraft Protection, which may be less expensive
alternatives to Overdraft Privilege.
For more information please download the opt-in .PDF file below.
LOSB Overdraft Privilege Opt-In Form
Overdraft Coverage Options
Lake-Osceola State Bank has two protection options available to their customers. Overdraft Protection is designed to initiate in the event of an
overdraft, protecting the customer from overdraft fees.
Savings Overdraft Protection will automatically draw available funds from a predetermined account of your choosing to cover your
overdrawn balance before overdraft fees are assessed to your account. A small $2 transfer fee will be applied on the day that this service is
utilized.
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Inquire Here
Line Of Credit Overdraft Protection will automatically borrow funds from a Line of Credit you have established with one of our loan
officers. You make payments to your Line of Credit on your due date and will pay accrued interest as needed.
Download Form
Inquire Here
For further assistance please contact us.
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