Overdrafts

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

• We have standard overdraft practices.
• We also offer overdraft protection services, such as a link to a savings account, which may be less expensive than our standard overdraft practices. In addition, we also offer an Overdraft Line of Credit which requires an application and credit approval. Once activated, the line of credit will provide overdraft protection by automatically transferring advances against the line into your checking account in increments of $100. Interest will be charged on the amount outstanding on the line. To learn more, ask us about these plans.