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Overdraft Protection

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Overdraft practices and protection plans

MidWestOne Bank offers several options to choose from to protect your Checking Account in the event a transaction results in an overdrawn balance.

You should know that we will not authorize ATM and everyday check card (debit) transactions that will overdraw your account without first receiving your affirmative consent to do so.

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.

Overdraft protection plans

You can choose one - or all - of the services below. If you select more than one option, the service will be activated in numerical order or as you elect:

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

Cost: $10/transfer (sales tax may apply)

Transfers from your Checking or Savings or Money Market account will be made in multiples of $100 to cover each overdraft in your Checking Account. Check card (debit) and ATM transactions will be authorized based on your available balance in your transfer account.

2. Automatic transfer from an eligible line of credit

Cost: No fee (subject to credit approval)

Advances in increments of $100 on an eligible Line of Credit can be made to cover each overdraft on your Checking Account up to your credit limit. Check Card (debit) and ATM transactions will be authorized based on your available balance in your transfer account. Interest will be charged per your loan agreement on the outstanding balance on your Line of Credit. (HELOC, Reserve LOC, Commercial or AG LOC ONLY)

3. OOPS (Occasional Overdraft Protection Service)

Cost: There is no cost to be enrolled in OOPS.

Newly opened eligible Checking Accounts will automatically be enrolled into Occasional Overdraft Privilege Service after the account has been open for 30-days unless you choose to opt-out of this service.

Overdrafts may be paid up to $800 for eligible consumer accounts and $1,500 for sole proprietor accounts. Our fees will be added to any outstanding overdrafts you may have 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. Your account will be charged the current fee for each item whether paid or returned unpaid. To qualify for this service:

  • You must be at least 18 years old.
  • Your eligible account must be opened for at least 30 days.
  • Your account is in good standing.
  • There are no legal or administrative orders or levies, such as bankruptcy or tax lien, outstanding against your account.

Download OOPS guidelines

For OOPS Personal Accounts Only:

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