OVERDRAFT PROTECTION

1. Automatic transfer from Checking, Savings or Money Market accounts

Cost: No Cost

Transfers between accounts will be made in increments of $100 to cover each overdraft on your checking account. Debit card and ATM transactions will be authorized up to the available balance in the transfer account. If you enroll in this service, it will be utilized before any other overdraft protection plan.

2. Automatic transfer from a line of credit

Cost: No cost (subject to credit approval)

Transfers from lines of credit will be made in increments of $100 to cover each overdraft on your checking account up to your credit limit. Home Equity lines of credit and Reserve line of credit are eligible for this service. Interest will be charged per your loan agreement on the outstanding balance on your line of credit. We do not charge a fee for this service. Line of credit transfers occur if no deposit transfer has been selected or funds are not sufficient in your deposit transfer account to cover the overdraft.

3. Occasional Overdraft Privilege Service (OOPS)

Cost: No Cost

OOPS pays occasional overdrafts up to $800 for eligible consumer accounts. Our fees will be added to your outstanding overdrafts and will be applied against your OOPS limit. This service is offered at the discretion of MidWestOne Bank and is a purely discretionary courtesy that we may provide for you. Overdrafts must be repaid within 60 days. OOPs will be utilized only after all other overdraft protection plan options have been exhausted or if no other plan has been selected. Newly opened eligible checking accounts will be automatically enrolled in OOPS after the account has been open for 30-days unless you choose to opt-out of this service. There is no cost to be enrolled in OOPS and no fees will be charged if the service is not used, however, overdraft fees will still apply.

To be eligible for this service:

• You must be at least 18 years old.
• Your account is in good standing. An account in good standing exhibits, but is not limited to, the following characteristics:
  • Account has been open for 30 days.
  • Account has a positive balance at least once every 30 days.
  • Account is not subject to any legal or administrative order.

FEES

Fees are assessed per item created by check, in-person withdrawal, ATM withdrawal, returned deposit items, or other electronic means; includes savings accounts. There is a maximum of $140.00 per day for consumer accounts. An item or transaction that is returned and later represented to us may result in you incurring additional fees, such as multiple nonsufficient funds fees.

We will notify you by mail or electronic notice if we pay or return any insufficient or unavailable funds items on your account; however, we have no obligation to notify you before we pay or return any item. The amounts of any overdrafts, including our fees, are due and payable immediately or on demand.

Consumer Accounts

ADDITIONAL INFORMATION REGARDING OOPS

OOPs applies to checks and other transactions made using your checking account number, automatic bill payments, ATM transactions and everyday debit card transactions. However, for consumer accounts, we will not include ATM and everyday debit card transactions within OOPS without first receiving your affirmative consent to do so.

OOPS ELIGIBILITY

We may limit the number of accounts eligible for OOPS to one account per household or per taxpayer identification number. We typically do not pay overdrafts if your account is not in good standing, you are not making regular deposits or you have excessive overdrafts.

Eligible accounts:

Free Checking, Relationship Checking, Connections Club Checking and Power Checking.

Ineligible accounts:

Health Savings Accounts, savings-type accounts, Money Market accounts, Freedom Checking, Political Campaign accounts, Trust accounts and/or Fiduciary accounts and minor accounts (not of legal age).

4. Overdraft Flex

Cost: No Cost

Overdraft Flex service can help you get through the occasional tight spot and avoid paying overdraft fees when you overdraw your checking account by $50 or less.

To be eligible for this service:

• You must be enrolled in OOPS and meet the “good standing” criteria.
• You must be enrolled in an eligible checking account product.
• You must receive qualifying direct deposits totaling $500 or more every 35 days.

Download Overdraft Protection Guide

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

If your account is enrolled in OOPS, please complete and submit this form.

Reg E Opt In / Opt Out form

Electronic monitoring and alerts

Our online and mobile banking service gives you the opportunity to customize account alerts. You can be notified via email, text message or both if your account balance ever falls below a particular threshold. This service is free, though text and data rates may apply.