Overdrafts and insufficient funds occur when your account does not have enough money available to cover a transaction. If there are not sufficient funds in an account, the bank can reject the transaction and it is returned to the payee. Typically, any returns will update in the account the following business day.
Helpful Tips on Preventing Overdraft
- Set up a Sweep/ Overdraft Protection by linking another Hingham Savings account to cover any overdrawn balances. This way, a transfer can happen automatically if an account overdraws and there are no additional fees applied.
- Sign up for Online Banking and access your account balance and history 24 hours a day. You can access online banking through your computer or mobile phone using our easy to use app.
- Use a check register to record all of your deposits and withdrawals and maintain a running balance. (Don't forget to include your ATM and Debit Card transactions).
It is important to note the difference between the account balance and the available balance. Money is pulled from your account using the available balance amount and not the account balance.