FAQ Categories

Overdrafts

General Questions

Questions & Answers

Overdrafts

What is an Overdraft?

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:

  1. We have standard overdraft practices that come with your account.
     
  2. We also offer overdraft protection plans, such as a link to another account or a line of credit, which may be less costly than our standard overdraft practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

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What are the standard overdraft practices that come with my account?

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 will not authorize and pay overdrafts for the following types of transactions without your consent

  • 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.

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What fees will I be charged if The Andover Bank pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30.00 each time we pay an overdraft
  • We will not charge you a fee if your account is overdrawn less than $5.00 on any given day. If your account is overdrawn for more than 11 or more consecutive business days, we will charge an additional $2.00 per day.
  • There is a limit of $210.00 per day on the total fees we can charge you for overdrawing your account.

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What if I want The Andover Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts for which an Overdraft fee will be assessed on ATM and everyday debit card transactions, call (440) 293-7256, complete this form, visit a branch, or mail it to: P.O. Box 1300, Andover, OH 44003. You can revoke your authorization for The Andover Bank to pay these overdrafts at any time by any of the above methods. Your revocation must include both your name and your account number so that we can properly identify your account.

If you have more than one account, you will need to tell us your preference for each account.

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General Questions

Can I go to any branch and do my banking?

Yes, you can do your banking at any Andover Bank office, located in Andover, Ashtabula Harbor, Austinburg, Conneaut, Geneva, Jefferson, or Madison.

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If I move, do I need to change my checks?

You can continue to use your existing checks, but you may want to order new checks with your new address on them.

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What are your hours and are all branches the same?

Banking center lobby hours for Andover, Ashtabula Harbor, Austinburg, Conneaut, Geneva, and North Jefferson are:

9:00am - 4:30pm Monday thru Thursday
9:00am - 7:00pm on Friday
9:00am - 12 Noon on Saturday
All Drive-Up windows open at 8:30am daily

Banking center lobby hours for South Jefferson are:

9:00am - 4:30pm Monday thru Thursday
9:00am - 6:00pm on Friday
9:00am - 12 Noon on Saturday
All Drive-Up windows open at 8:30am daily

Banking center lobby hours for Madison are:

9:00am - 5:00pm Monday thru Thursday
9:00am - 6:00pm on Friday
9:00am - 12 Noon on Saturday
All Drive-Up windows open at 8:30am daily

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What do I need to open a new account? How much money?

A valid drivers license, State ID card, or passport and Social Security Number.

There is no minimum amount required to open a checking or savings account. Certificates of Deposit require a minimum deposit of $1,000.00.

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Do you have free checking?

Yes. See all of our personal checking account options here.

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What's my balance?

You can check your account balances 24 hours a day, 7 days a week on Andover Bank's online banking site or by calling INFOLINE at 888-343-2200.

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I have a pension or IRA account. How do I get my funds to the Andover Bank?

Bring your account number from the institution you are transferring from or pension fund information. Your New Account Representative will instruct the financial institution or organization to forward your funds as a direct rollover to transfer to your new account.

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My Social Security is going to another bank. I need it to go to my new account. How do I do that?

Simply complete an Andover Bank "Quick Start" enrollment form available at all banking centers.

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Do you have Internet banking?

Yes, you can enroll by clicking here.

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I was trying to balance my account, but there's a check amount that I didn't write down. Can you tell me what it is?

Once the check has been presented to the bank for payment, we can provide you with the information. You can also view your account online or call INFOLINE at 888-343-2200 to determine if the item has cleared.

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What do I do if my Andover Bank credit card or debit card is lost or stolen and the bank is closed?

To report a lost or stolen credit card, call 1-800-325-3678; a lost or stolen debit card should be reported to 1-800-528-2273.

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