Understanding Overdrafts

Overdrafts may occur when items presented for payment from your account exceed your available balance. These items include checks, debit card purchases, ATM withdrawals or electronic payments. Overdrafts can happen for a number of reasons. Anything from an unexpected emergency to a balancing error can cause you to draw on funds that are not available in your account.

At Eastern Bank, we provide solutions that help you avoid overdrafts as well as tools that may allow an item to be paid even if it would overdraw your account. These tools provide you with ways to prevent an overdraft from occurring, to protect your account from incurring overdraft fees and to pay overdraft transactions if the need arises. It is important to learn about all the options available and determine which ones you need in order to successfully manage your account.


You can take steps to try to avoid overdrafts. Although most of our accounts do not have a minimum account balance requirement, we recommend that you keep a cushion in your checking account to protect against overdrafts and overdraft fees. Using the tools below will help you stay on top of your account balance and avoid costly overdrafts.

Your Monthly Statement
Each month, we send you a statement outlining all the transactions that were posted to your checking account during the prior month. Reviewing this statement is the first step toward keeping track of what has cleared your account and what is still outstanding.

Online Banking
This is a valuable service that allows you to access your account anytime—and from anywhere you have an internet connection. Check your account as often as you need to, and remember to subtract from your available balance any pending transactions that are not listed on your online banking page. This will allow you to be aware of how much you can spend or withdraw.
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Account Alerts
Use online banking to set up automated alerts that will notify you whenever your selected criteria are met. For example, you can set up an alert that will email you once a day when your account drops below a specified starting balance.

Mobile Banking
Stay connected to your account balance and banking activity with Eastern Bank’s secure mobile banking service.
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