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An overdraft occurs when you do not have enough money available in your account to cover a transaction, but Tower pays it anyway. Tower covers overdrafts in two ways:

  • Standard overdraft practices that come with your account.
  • Overdraft protection plans, such as a link to a savings account or to an overdraft line of credit, which may be less expensive than standard overdraft practices.


What are the standard overdraft practices that come with my account?

Tower authorizes and pays overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number.
  • Automatic bill payments

Tower does not authorize and pay overdrafts for the following types of transactions unless you authorize us to pay them.

  • ATM transactions
  • Everyday debit card transactions

I authorize Tower to pay ATM transactions and everyday debit card transactions. Click here to opt in or to opt out.

Tower pays overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. Member’s must repay and cover any overdrafts including the associated fees returning the account to good standing as soon as possible but not exceeding 15 days. If we do not authorize and pay an overdraft, your transaction will be declined.


What fees will I be charged if Tower pays my overdraft?

Under Tower’s standard overdraft practices, there will be a fee of up to $25 each time we pay an overdraft. There is no limit on the total fees we can charge you for overdrawing your account.


To learn more about overdrafts and fees, send a secure e-mail, visit a branch or call the Member Service Center at 301-497-7000 or 866-56-TOWER.

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