Overdraft Services

Man smiling as he looks at his cell phone. Sandy Spring Bank Personal Overdraft Services. Take control of your finances by understanding overdraft services and other strategies you can use to help you manage your accounts. 

Take control of your personal finances by understanding overdraft services and other strategies you can use to help you manage your accounts. 

Federal regulations give consumer debit and ATM card users additional options when it comes to overdrafts. The Federal Reserve’s Regulation E, which enforces the Electronic Funds Transfer Act, ensures that banks, credit unions, and other financial institutions must offer clients the ability to make decisions about overdraft services for transactions made with debit or ATM cards. We offer two services:

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Tips To Avoid Overdrawing Your Account

  • Find out how much money you have in your account with Personal Mobile and Digital Banking. (Don’t forgot to subtract any transactions that aren’t listed in Mobile or Digital Banking as they might reduce your available balance.)
  • Sign up for Text or Email Alerts and stay on top of your transactions and balances. Get a Low Balance Alert notified when you reach any balance that you set.
  • Need more funds in your account? You can make a transfer in Digital Banking, Mobile Banking, through telephone banking, or at the ATM.
  • Balance your checkbook to track of all your deposits and withdrawals.

What fees will you be charged if Sandy Spring Bank pays your overdraft?

Under our standard overdraft services:

  • We will charge you an Overdraft Item Fee of $29 each time we pay an overdraft.
  • The maximum times a fee will be assessed in one day is 3.
  • When we determine that your account is overdrawn by a total amount less than $5 after we finish processing for that day, we will not charge Overdraft Item Fees.

What are the standard overdraft services that come with your 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 payment

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

  • ATM transactions
  • Everyday debit card transactions

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, enroll now or call 800.399.5919.

* 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.

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  • Disclosure

    *By law, banks are permitted to limit certain types of withdrawals and transfers from your savings and money market accounts and charge an excess activity fee when you exceed such limits. The limitations apply to withdrawals by check, draft, debit card purchase or similar order (if available on the account), or telephone, or automatic or pre-authorized transfers to another of your accounts with us or to a third party. The limitations also apply to transfers made by Telephone Banking, Online Banking, or Mobile Banking and transfers from your savings or money market account to cover overdrafts. Due to federal regulation changes, we are currently not applying these limits or charging an excess activity fee.