Overdraft Privilege and What You Need To Know

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

  • We have standard overdraft practices that come with your account.
  • We also offer overdraft protection plans, such as an overdraft transfer from another account or a pre-approved overdraft line of credit, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans. 

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account? (Basic Coverage) 

We do authorize and pay overdrafts for the following types of transactions: 

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

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • ATM transactions
  • Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Woodsville Guaranty Savings Bank pays my overdraft? 

Under our standard overdraft practices:

  • We will charge you a fee of up to $30 each time we pay an overdraft.
  • There is a maximum of $150 in total fees we can charge you for overdrawing your account per day.
What if I want Woodsville Guaranty Savings Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions? (Extended Coverage) 


If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, complete and submit the form below or call 1-800-564-2735 and speak to Deposit Services. If you’d prefer, you may also complete and print this form and mail it to: WGSB, PO Box 266, Woodsville, NH 03785.

To Opt In or Out, Please Complete the Following: 

Please enter the account number for all of your personal checking accounts below. Overdraft Privilege is available for personal accounts only and is not available for business accounts.