As a standard practice we will pay overdrafts for checks and other payments up to $500 for qualified customers at our discretion. Below is information that will assist you in determining how you would like Eastern Bank to manage your account overdrafts.
How to Elect ATM/Debit Card Coverage
As previously stated, Eastern Bank will not authorize and pay ATM withdrawals and everyday debit card transactions that overdraw your account unless you instruct us to do so. By electing ATM/debit card coverage, you are instructing us to (where possible) authorize and pay ATM withdrawals and everyday debit card transactions that would overdraw your account. Your account will be subject to the standard overdraft fee.
You can elect ATM/debit card coverage as well as change your election at any time, in one of the following ways:
|
Online: |
Use our online Overdraft Election Form |
|
In Person: |
Visit your nearest branch |
|
Mail: |
Eastern Bank Customer Service Center 195 Market Street EP3-12 Lynn, MA 01901 |
Opt Out of Standard Coverage
By choosing to opt out of standard coverage, you are instructing us to (where possible) decline or return any transaction that would overdraw your account. In addition to your check transactions, this election will also apply to any ATM withdrawals or everyday debit card transactions that overdraw your account, even if you previously elected ATM/debit card coverage. Your account will be subject to the standard Non-Sufficient Funds (NSF) Return Item Fee for checks and ACH debits.
You can opt out of overdraft payments in one of the following ways:
|
Phone: |
Call 1-800-EASTERN (327-8376) |
|
In Person: |
Visit your nearest branch |
|
Mail: |
Eastern Bank Customer Service Center 195 Market Street EP3 -12 Lynn, MA 01901 |