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Kentucky Bank Tackles Overdraft Fees with PaySmart: Offers No-Credit-Score Line of Credit

Kentucky Bank is proud to announce its newest checking account focused on lessening the financial burden of unanticipated overdraft fees. The PaySmart Checking Plan provides customers with no bank overdraft fees plus an optional credit line with no credit score required.

“We all work hard to manage our finances, but unavoidable circumstances may cause expenses to exceed account balances,” Louis Prichard, Kentucky Bank President and CEO, said. “As a community bank, it is our responsibility to provide innovative products and options to help consumers develop and maintain financial stability. We are proud to introduce PaySmart, as it will truly benefit depositors and further position us as a trusted advisor and financial partner.”

To combat consumers’ concerns about overdraft fees, Kentucky Bank has launched this pioneering money management solution that provides a choice to clients wanting to avoid bank overdraft fees altogether. With this plan, the bank returns or declines items presented to clients’ accounts that would otherwise overdraw the account. Research shows many consumers, particularly those 18 to 35, prefer that accounts be managed this way today. The plan comes with the assurance that Kentucky Bank will provide this unique service without charging an overdraft or returned item fee.

Prichard added, “Today’s fast-paced transaction environment involves a tremendous volume of debit card swipes, pre-authorizations and substitute checks. Consumers cannot easily anticipate when these transactions will formally post to their accounts. Our PaySmart Plan offers an unprecedented level of spending control by eliminating the fear of unexpected bank overdraft fees. And the optional no credit score, line of credit can provide many households with thin or impaired credit an affordable alternative.”

“Consumers who struggle with their credit score today can be faced with extremely high interest rates to borrow or fall into a repayment plan where the entire amount they borrowed comes due at once,” Prichard said. “We wanted to offer an alternative with a reasonable rate and affordable monthly payments so a borrower can pay debt back over time. It’s also a revolving line of credit so the customer can re-draw it as needed.”

Kentucky Bank’s exclusive PaySmart Checking Plan is available online. Visit for complete details or to apply. Kentucky Bank is a community bank offering 17 offices throughout Kentucky. They are proud to be recognized as one of the Kentucky Chamber of Commerce’s Best Places to Work for the last four years.

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