Business Overdraft Protection
Occasionally, you may have business expenses too large for your checking account to absorb. Kentucky Bank handles non-sufficient funded items in your account on an individual basis. We offer three types of business overdraft protection coverage.
This program is a discretionary, non-contractual courtesy for qualified account holders, payment of your NSF item is NOT guaranteed. Based on your deposit history, we MAY approve your overdrafts. The approved deficit balance range is $500 up to $1,500, including our standard Overdraft Fee per item presented, as applicable (see Discretionary Overdraft Policy here for specific details). Learn more about Kentucky Courtesy for Businesses here.
Arrangements can be made to automatically transfer funds from another Kentucky Bank account of yours to an account that has an NSF item, for a transfer fee (please refer to the fee schedule). This service must be set-up in advance of a NSF item transaction. Please speak to your customer service representative about designating which accounts you would like transfers to come to and from.
Business Line of Credit*
An overdraft line of credit requires a contractual loan agreement to be signed and is available to qualifying account holders. NSF items are covered up to the value of the line of credit. Interest is charged on the outstanding balance of the line of credit. Your account can be automatically charged for your minimum monthly payment. Outstanding balances include overdrafts covered, balances from previous months, and interest. If you wish, you may pay your balance in full monthly.
*You can only have one type of overdraft protection.