Overdraft Protection

What is an Overdraft?

An overdraft occurs when there's not enough available money in an account to cover a transaction. An account can be overdrawn in a variety of ways, including through an ATM transaction, electronic or in-person withdrawals, bill payments, and debit card transactions. Overdrawing an account typically incurs a fee.

Effective Immediately, Westfield Bank has eliminated some of our fees related to overdrafts:

  • Any item $10.00 and under* that is paid or returned for insufficient or uncollected funds will no longer be charged an overdraft fee.**
  • We are reducing the number of items for which you can be charged an overdraft fee** on any single day. The maximum number of insufficient funds charges per day will be three (it was formerly five). The maximum number of uncollected funds charges per day will be three.

  • For customers who have enrolled in Savings Overdraft Protection, we are eliminating the fee for transfers to cover overdrafts (it was formerly $7.50). This service is provided at no charge to all customers who enroll. 
  • For personal banking customers, we are eliminating the fee for returned deposited items (it was formerly $7.00).
  • We have never charged "Consecutive Day/Sustained Overdraft" fees, and that practice will continue.
  • If an account is overdrawn beyond the amount available through overdraft programs including discretionary overdraft privilege, the item(s) will be paid as long as the available balance in your account is sufficient to cover the overdraft by noon on the next business day, and any related insufficient funds fees will be reversed.

    View our current Consumer Fee Schedule

    Preventing Overdrafts

    Savings Overdraft Protection

    Automatic transfers are made from your savings account to your checking account if it becomes overdrawn. This service is provided at no charge to all customers who enroll. Stop by any of our 25 branches to enroll.

    Personal Line of Credit

    Using a pre-established line of credit, transfers are made from the line to cover any overdrafts presented up to the available line limit. Interest charges are assessed based on the current interest rate and the balance outstanding. To view rates and apply online, click here.You may also apply at any of our 25 branches.

    Digital Banking Resources 

    While Savings Overdraft Protection or a Personal Line of Credit can prove useful in the event of an overdraft, the best prevention comes before an overdraft can occur. With online banking and mobile banking, you can customize alerts to receive, such as when your account balance falls below a certain threshold. WB Debit Card Manager also allows custom alerts for your WB debit card, along with other features including the ability to turn your card on or off from your mobile device. These resources, combined with other digital banking tools, serve as a great way to manage your accounts and prevent unwanted fees.

    Click on the buttons below to view important information and tips to help you avoid overdrafts.

    *$10 de minimis includes everyday debit card transactions but not recurring transactions.

    **Overdraft fees include insufficient funds and uncollected funds fees.