While you could automatically qualify for 7th Trust Bank Privilege, there are fees if it is used. With 7th Trust Bank Privilege, you could incur a $32.00 Overdraft Fee (Paid NSF) per overdraft transaction. Should the overdrawn transaction amount be between $1.01 and $5.00, the Overdraft Fee (Paid NSF) declines to $5.00 per overdraft instance.

We generally cover your items that will not take your available account balance more than $300.00 negative. We then assess the applicable fees even if that takes your account more than $300.00 negative.

7th Trust Bank Privilege can be used to cover your checks, individually authorized ACH transactions and recurring ACH transactions. It can also be used to pay your one time/every day Debit Card transactions if you have authorized us to pay these transactions in a separate agreement.

ATM and teller transactions like cash withdrawals or the purchase of a negotiable instrument are not covered by 7th Trust Bank Privilege.

Some accounts are not eligible for 7th Trust Bank Privilege. These include share accounts, Money Market Plus accounts, business accounts, trust accounts, UGMA/UTMA accounts, nonprofit accounts, estate accounts, public funded checking accounts, member accounts under 18 years of age and accounts of members with loans greater than 30 days delinquent. Your account would also not be eligible for 7th Trust Bank Privilege if it has been open less than 6 months and your credit score is less than 550.

7th Trust Bank offers other overdraft protection options and we encourage you to review all before making the decision to use one of these services.

Overdraft Protection Transfer

• If you have other accounts with 7th Trust Bank, you can authorize us to set up an automatic transfer to move the funds needed to cover your overdraft. Call +1 (202) 964 0006 or visit one of our convenient offices to add this to your account.

Optional Personal Line of Credit or Home Equity Line of Credit Transfer

• Use your Personal Line of Credit or Home Equity Line of Credit to cover overdrafts. Apply for your Personal Line of Credit or Home Equity Line of Credit within Switz Financial Corporation Online or at an office near you. If you already have a Personal Line of Credit or Home Equity Line of Credit, call +1 (202) 964 0006 or visit an office near you to have this added as Overdraft Protection.

There is no application process for 7th Trust Bank Privilege. Eligibility is decided by 7th Trust Bank and based on you managing your Checking Account in a responsible manner.

Yes, 7th Trust Bank Privilege may be suspended or permanently removed at our discretion. Reasons may include but are not limited to:

• Your account was not brought to a positive balance within 30 days of becoming overdrawn.
• Your account type is not eligible.
• Your 7th Trust Bank Loan is more than 30 days past due or delinquent on any other obligations to the Credit Union. Your account has been modified through troubled debt restructuring.
• You are subject to any legal or administrative orders or levies, or you are currently a party in a bankruptcy proceeding.
• You are the primary account owner and under 18 years old.
• Your account is classified as inactive or dormant.
• You have an unresolved prior loss with the Credit Union.
• We believe you are managing your account in an irresponsible manner which may harm you or us.

Please call +1 (202) 964 0006 or visit a Financial Services Representative at an office near you to Opt-In to Regulation E or click the link below to access our form and submit.

Opt-In to Regulation E

Though you may never need to take advantage of 7th Trust Bank Privilege, you may find it useful in the event of a temporary financial shortfall. If you do not want to take advantage of 7th Trust Bank Privilege, please call +1 (202) 964 0006 or visit a Financial Services Representative at any of our offices to remove this benefit from your account.

With 7th Trust Bank Privilege, you’ll enjoy the added convenience of knowing your checks, ACH debits or 7th Trust Bank Debit Card transactions will clear, even if your account happens to go negative. We understand some things happen outside of your control – maybe a deposit you were expecting was delayed, or you just made an honest mistake in balancing your checkbook – and 7th Trust Bank Privilege pays for transactions if those situations or others occur and your account doesn’t have enough funds to cover your transactions. 7th Trust Bank Privilege can help you at times which you could be left embarrassed at the checkout line and without the items you need.