Overdraft Services

Protection & Coverage

We understand that unexpected expenses can arise, and our overdraft services are designed to provide you with peace of mind and financial flexibility. Enjoy the convenience of having transactions covered, even if you have insufficent funds in your account.

We offer various overdraft protection options, including linking a savings account, a credit card, or a line of credit to your checking account.

OOPS! Occasional Overdraft Privilege Service

Rather than automatically returning unpaid all insufficient funds items that you may have, we will consider, without obligation on our part, payment of your reasonable overdrafts up to your assigned OOPS! limit. Accountholders may qualify for this service if their account has been opened for at least thirty (30) days and account is in “good standing” by meeting the criteria below:
  • Deposits continue that are consistent with your past practices and at least $400 or more is deposited in your account within each thirty (30) day period
  • You are not in default on any loan obligation to us
  • Your account is not the subject of any legal or administrative order or levy, such as bankruptcy or tax lien

*We reserve the right to require you to pay your outstanding overdraft (negative) balance, including our fees, immediately or on demand

Learn More

Overdraft Protection Transfers

Using this service, you can easily link another Checking or Savings Account to transfer the funds necessary to cover the expense.  There is no minimum to transfer and only the exact amount is needed to move over.  Instead of a non-sufficient funds (NSF) fee, Overdraft Protection Transfers only charges $7 per transfer.

Overdraft Coverage for Debit Cards (Regulation E)

When you use your debit card or withdraw cash from an ATM, there may be times when you don’t have enough money in your account to cover the transaction. Regulation E gives you a choice in how your bank handles those situations.

Your Choice: Opt In or Stay Opted Out:
If you choose to opt in:
You are giving us permission to authorize everyday debit card purchases and ATM withdrawals when your account balance is insufficient.

  • Transactions may be approved if you have available overdraft coverage (such as an overdraft protection service or overdraft privilege limit)
  • If approved, you may be charged an overdraft fee

Opting in allows your debit card and ATM transactions to access your available overdraft coverage, but approval is not guaranteed.

If you choose to stay opted out:
We will decline transactions if you don’t have enough money in your account.

  • Your transaction will not be approved
  • You will not be charged an overdraft fee

This option helps you avoid unexpected fees.

Important to Know:
This choice only applies to:

  • Everyday debit card purchases
  • ATM withdrawals

It does not apply to:

  • Checks
  • Automatic bill payments (ACH)
  • Recurring debit card payments

These transactions may still be approved and could incur overdraft fees, depending on your account settings.

Changing Your Preference
You can opt in or opt out at any time. Visit your local branch or contact us at (812) 492-8200.

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At First Federal Savings Bank, we offer customers accessible and flexible options for managing their finances. 

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The security of your financial information is our top priority.  We are committed to providing a safe and secure banking environment for our customers. 

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Your Deposit Support team is available 8:00 am to 5:00 pm CST Monday through Friday (excluding bank holidays) to assist with any questions.

Please call (812) 492-8200 or contact us via email at depositoperations@fbei.net.