Overdraft Protection

Providing protection and peace of mind for our customers.

Having a transaction denied due to insufficient funds can be costly and embarrassing. That’s why we provide special overdraft services for our checking customers. Review the services listed below to see if one may be a cost-effective option for you:

Contact Us

Call 1.877.226.4671 

Visit any of our branch locations

No Return BenefitSM can help give you an added level of protection against unanticipated cash flow emergencies and account reconciliation errors. Of course, we encourage our customers to manage finances responsibly, and to avoid overdrafts altogether. But services such as No Return BenefitSM can help avoid the awkwardness, merchant fees, and other issues that can result from denied transactions.

For program details, qualifications, and considerations for the No Return BenefitSM service, please see the Important Information About Your Account booklet.

How does my No Return BenefitSM work?

With No Return BenefitSM, Bangor Savings Bank may honor and pay overdrafts up to the limit established for your account. Once the service is in place, it remains active as long as you maintain your account in good standing.

What does my No Return BenefitSM cost?

No Return BenefitSM is available as a courtesy for our eligible checking account customers. There is no additional cost unless you draw against insufficient funds beyond our $25 grace threshold. The fee for paid NRB Items is $29 per item, as noted in our Common Fee Schedule.

What transactions are covered by my No Return BenefitSM but may incur a fee?

No Return BenefitSM transactions that may impose a fee for covering overdrafts include the following

  • Checks and other transactions made using your checking account number including electronic funds transfers
  • Automatic bill payments and payments authorized by you
  • ATM transactions
  • Every day debit card transactions

What if I do not want to have No Return BenefitSM on my checking account?

In the event you would like to cancel or terminate the NRB service from your account, you may do so by calling 1.877.226.4671. Canceling or terminating the NRB service may require the bank to return items to the payee when the account does not have sufficient funds to pay the item. There is no fee for Returned Items, the Paid Item fee is $29 per item, as noted in our Common Fee Schedule. Additionally, beginning on the seventh business day, a $5 per day Sustained Overdraft Balance fee may be assessed. 

How soon can I use my No Return BenefitSM?

You may use the overdraft limit assigned to your account within 30 days after opening the checking account, provided that you make at least two deposits that total twice the No Return BenefitSM limit for your account type. You will receive a letter in the mail notifying you when your account is enrolled.

What is my No Return BenefitSM limit? If I have two checking accounts, can I get No Return BenefitSM limit on both?

Locate your account type below to determine your No Return BenefitSM limit. If you have multiple accounts you may have a No Return BenefitSM limit on all eligible accounts.

  • Benefit checking; Benefit 62 Checking: $500
  • Benefit Plus® Checking: $750

How do I know when I have used my overdraft? What if I go beyond my No Return BenefitSM limit?

You will receive an overdraft notice in the mail each time a transaction is paid against insufficient funds. Overdrafts above and beyond your established No Return BenefitSM limit may result in items being returned to the payee. Note that the amount of any overdraft plus any applicable overdraft fee (as noted in the Common Fee Schedule) will be deducted from your No Return BenefitSM overdraft limit.

How quickly must I repay my No Return BenefitSM?

You should make every attempt to bring your account to a positive balance as soon as possible, and certainly no later than 30 days. If you are not able to do so, you will receive a letter from Bangor Savings Bank informing you of the situation and your options. If, after a period of time, your account has not been brought to a positive balance, we may suspend your overdraft limit and take other steps to recover funds. 

A line of credit that can be used to cover transactions that exceed your checking account balance. The line of credit is subject to an interest rate on outstanding balances.

Fee-Free, simple, and versatile coverage that pulls money from a linked Bangor Savings Bank account when your checking account balance goes negative. 

Eligibility Restrictions: No Return BenefitSM is not available with Benefit Promise® or Maine ABLE Benefit Checking® accounts. It is also not available to “representative” account registrations. Some examples of “representative” registrations are: estate accounts; representative or federal payee accounts; “in-trust-for” accounts; Parent and Next Friend accounts; Maine Uniform Transfers to Minors accounts (UTMA); and conservator accounts. Please note that this list is not all-inclusive. Account-Link Overdraft Protection is not available with Maine ABLE Benefit Checking® accounts.