Starion Financial’s Overdraft Privilege* (ODP) service for your checking account is another way for us to thank you for being a Starion customer. ODP may be a safety net for those rare occasions when you have a financial emergency.
When that happens, ODP may cover overdraft items on your personal checking account, up to a limit of $500, which includes fees. Overdraft fees will still apply, but you may be able to avoid merchant charges with ODP.
How does it work?
For example, you are in a grocery store checkout line and the cost of your groceries is more than what you have in your account at the moment. If you have provided consent for ATM/debit card transactions for your ODP, Starion may cover the overdraft. This saves you the inconvenience of returning the items you wish to purchase or looking for a different card to use.
ODP offers eligible accounts coverage for the following transactions up to the limit of $500, including fees, in case of insufficient funds:
|Checks||ACH transactions||Preauthorized ACH transactions|
|Bill Pay items||Debit card recurring transactions||In-person withdrawals|
|ATM transactions*||Everyday debit card transactions*||Telephone transfers|
*Overdraft Privilege will only be available for ATM and everyday debit card transactions if the customer authorizes Starion by providing consent for those transactions.
What are the details?
Overdraft Privilege is automatically given to eligible Starion Financial personal checking accounts 30 days after account opening. When you use ODP, you must bring your checking account back to positive balance within 30 days. Otherwise, corrective steps may be taken and/or the account may be closed.
There is no cost for the ODP service unless you use it for insufficient funds coverage. If you use the service, you’re charged the standard Overdraft/NSF fee for your Starion branch each time you use your account while it’s overdrawn. You will also be charged the standard continuous overdraft fee each fifth consecutive overdrawn business day. Fee schedules are available at your local Starion branch.
How do I get this coverage for my ATM/debit card transactions?
Follow one of the steps below to provide consent to cover your everyday ATM/debit card transactions:
- Calling Starion Customer Service at 888.258.6050
- Using our Online Chat Service
- Visiting your local Starion branch office
- Faxing the consent form to 701.667.1663
Mailing the consent form to:
ATTN: Accounting Department
PO Box 848
Mandan, ND 58554
If at any time you want to revoke your consent for Starion to cover your everyday ATM/debit card transactions, just follow one of the same processes above to revoke this coverage.
In addition to Overdraft Privilege, you may also choose from these options:
|Transfer from another account||If you have other accounts with us, you can authorize us in advance to transfer the funds needed to cover overdrafts.||$0 or no charge|
Overdraft Line of Credit
|This product requires you to complete an application and obtain approval.||18% APR, $15 annual fee and $5 transfer fee|
|Personal Line of Credit||This product requires you to complete an application and obtain approval. APR is based on your credit worthiness.||
$0 or no charge
For more information on Overdraft Transfer and Ready Credit, contact your Starion personal banker.