Business Overdraft Privilege Disclosure

Discretionary Overdraft Privilege Commercial Account Disclosure*

Effective beginning March 30, 2023

It is the policy of Queensborough National Bank and Trust Company, herein referred to as “QNBT,” the “Bank” or “our,” to comply with all applicable laws and regulations and to conduct business in accordance with applicable safety and soundness standards.

The Deposit Account Agreement provided to you at the time you opened your account with us controls the duties, obligations and rights of the Depositor, the Authorized Signatories, and the Bank with regard to your checking account. But for the provisions of “Order of Payment Items” contained herein the Deposit Account Agreement (and all amendments thereto) and its terms shall control any possible conflict, if any, between any provision of this Discretionary Overdraft Privilege Commercial Account Disclosure and the Deposit Account Agreement. A copy of the Deposit Account Agreement is available to you on request from your Bank Officer.

Overdraft Privilege Eligibility

Overdraft Privilege is a non-contractual service which allows an account to go negative in order to pay an item. Payment by the Bank is a discretionary courtesy and not a right of the customer or an obligation of the Bank. Eligible checking accounts are automatically enrolled in our Overdraft Privilege service.

Eligible accounts include:

  • Accounts that have been open for at least thirty (30) days.
  • Commercial accounts are limited to an Overdraft Privilege of $1,500 Overdraft (negative) balance, including any NSF/Overdraft Item Charges and other bank charges such as monthly service charges, wire fees and stop payment fees.
  • Customers must bring the account to a positive balance within thirty (30) days of becoming overdrawn.
  • Customers not on default on any loan or other obligation to the Bank.
  • Customers not subject to any legal or administrative order or levy.

Any discretionary payment by the Bank of an overdraft check (or item, such as an ATM withdrawal) does not obligate the Bank to pay any other overdraft check (or item), or to provide prior notice of its decision to refuse to pay such check (or item).

It may be possible that your account will become overdrawn in excess of the Overdraft Privilege amount as a result of the assessment of a fee. The total of the discretionary Overdraft Privilege (negative) balance, which includes any and all fees and charges, including all NSF/Overdraft Item Charges are due and payable upon demand, and Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all such amounts, as described in the Deposit Account Agreement.  

Non-Sufficient Funds (NSF)/Overdraft Item Charges

QNBT’s standard NSF/Overdraft Item Charge of $32 will be imposed for NSFs/Overdrafts created by checks, ACH, ATM withdrawals, everyday debit card transactions, in-person withdrawals, or by other electronic means.

Understanding your Available Balance

Overdraft Privilege is a non-contractual service which allows an account to go negative in order to pay an item.

Overdraft Limit is the amount the account can go negative to pay an item. If your QNBT commercial account is eligible it will receive a $1,500 Overdraft Limit.

Overdraft Protection is a contractual agreement which transfers funds such as from your QNBT checking or savings account in order to pay an item.

Customers with Overdraft Protection may receive Overdraft Privilege based upon the Overdraft Privilege criteria. Overdraft Privilege will only be used after Overdraft Protection has been exhausted.

For Commercial customers, the balance used to authorize and pay overdrafts on ATM and everyday debit card transactions, as well as checks, ACH, ATM withdrawals and reoccurring Debit Card transactions, is the account available balance minus any account holds and debit card authorizations plus any Overdraft Protection and Overdraft Limit. 

Holds placed on your account for pending electronic transactions, such as hotel or rental car deposits and authorized debit card transactions, will reduce your available balance which may cause a negative available balance and your account may be assessed an Overdraft Item Charge for each item that caused the negative available balance. In these instances, the Overdraft Item Charge will be assessed on the date that the item posts to your account.

Preauthorized or Non-authorized debit card transactions could cause an Overdraft Item Charge at the time the transaction settles to the account if other debits post ahead of the transaction, even though there were good funds in the account at the time the transaction was authorized and even when your statement balance does not reflect a negative balance.

Order of Payment

Notwithstanding the provisions of the Deposit Account Agreement governing the Order of Payment, the transactions you authorize against your account may not be presented in the order in which they occurred or were authorized. The order in which transactions are received and processed may impact the total amount of fees incurred.

Queensborough pays NSF items presented the previous business day; then bank fees such as a stop payment fee; then checks presented directly to the bank such as a check cashed at the teller window; then ACH debits and debit card transactions; and lastly, all other checks.  All checks and debits are paid from highest o lowest by dollar amount.

Overdraft Counseling Services

QNBT monitors customers who have Overdraft Privilege and identifies those customers with excessive usage and overdraft fees on a monthly basis. “Excessive Usage” is defined as a customer that is using Overdraft Privilege on five or more occurrences within a month and has paid numerous NSF/Overdraft Item Charges. The bank educates and counsels customers about overdraft fees and Overdraft Privilege (A non-contractual service which allows an account to go negative in order to pay an item) through our Overdraft Counseling Program.

QNBT sends a letter and a counseling brochure to customers who have 5 overdraft occurrences within a month. QNBT contacts customers the first time they have 10 or more overdraft occurrences within a month and provides alternate Overdraft Protection methods (Overdraft Protection is a contractual agreement which transfers funds from another source in order pay an item) such as Overdraft Protection Transfers, Internet Banking and Mobile Alerts to keep track of balances and Internet Banking’s Money Management Tool to assist with budgeting.

Accounts having a negative balance for 30 days will have the Overdraft Privilege removed. Accounts that have not been brought to a positive balance within 60 days may be closed and sent to a credit reporting agency for collection. Negative credit reporting can further impact your ability to be approved for credit cards, loans, and other Financial Services.

Overdraft Protection Options

Overdraft Transfers allow you to link your checking account with one or more checking or savings accounts. The bank will transfer funds from your linked account to pay the overdraft amount, up to the amount of funds in the linked account. A written authorization must be on file before any Overdrafts are covered. An Overdraft Transfer Fee of $10 is assessed for each transfer per account per day. The Overdraft Transfer Fee is charged with the monthly account service charge.

Internet and Mobile Banking allows customers to view their account information, transfer funds between accounts, and make Deposits anywhere at any time. There is no charge for the Internet Banking and Mobile Banking service. Data charges from your Mobile Carrier may apply.

Mobile Alerts are available for customers with Online and Mobile Banking. Alerts can be set to easily monitor your balance in your account and avoid overdrawing your account. There is no charge for this service.


You may opt-out of the Overdraft Privilege service and the Overdraft limit by contacting the bank at one of the methods below.

  • Call 1-855-QNBTNOW (1-855-762-8669)
  • Visit our website
  • Mail 113 East Broad Street, PO Box 467, Louisville, GA 30434
  • Visit one of our Queensborough Branch locations

*Note: The Commercial Discretionary ODP Disclosure is current and effective beginning March 30, 2023. This document and it’s terms and conditions can be revised or amended by Queensborough National Bank & Trust Co. at any time, without prior notification on the website.

Revised March 2023

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