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Effective July 1, 2010 for new accounts and August 15, 2010 for existing accounts, we will no longer authorize and pay ATM and everyday debit card transactions that overdraft your account unless you ask us to.

*New federal regulations prohibit us from authorizing and paying transactions, as mentioned above, that are subject to a fee without your permission.

What You Need to Know about Overdrafts and Overdraft Practices

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

    1. We offer our standard SmartPrivilege Overdraft Protection, which covers overdrafts up to the approved limit, to qualified clients.
    2. We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

The following explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:

    • Checks and other transactions made using your checking account number
  • Automatic bill payments

We will not authorize and pay overdrafts for the following types of transactions unless you ask us to:

  • ATM transactions
  • Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if SmartBank pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30 each time we pay an overdraft.
  • There is no limit on the total fees we can charge you for overdrawing your account.

What if I want SmartBank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, or if you want to change a previous decision, please do the following:

  • Click here to download a form
  • Print, complete, and mail the form to:

SmartBank
ATTN: Deposit Operations
PO Box 1910
Pigeon Forge, TN 37868

Visit one of our branches to return your completed form or speak with an FSR for more information.