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Overdraft Privilege


Life doesn't come with a safety net. Fortunately, your checking account does.

Have you ever made an honest mistake in your check register? Found yourself a little short on cash? Had unusual or unforeseen expenses at just the wrong time? It happens. And, with Liberty Bank's Overdraft Privilege, you're protected up to $1500. In the event you overdraw your account, you pay an overdraft fee of $29.50 per item.


How does Overdraft Privilege work?

An overdraft occurs when you don't have enough money in your account to cover a transaction:

  • You write a check, swipe your debit card, or initiate an electronic funds transfer in an amount that exceeds the amount of funds available in your account.
  • You deposit a check or other item into your account and the item is returned unpaid, which causes a negative balance in your account once your balance is reduced by the amount of the returned check or item.
  • You have inadequate funds in your account when we assess a fee or service charge.
  • You initiate a transaction before funds deposited into your account are "available" or "finally paid" according to our Funds Availability Policy.

With Overdraft Privilege, rather than automatically returning unpaid insufficient funds items that you may have, we will consider payment of your reasonable overdrafts.

  • Payments of overdrafts up to $1500 will normally be considered for checking accounts with direct deposit and up to $750 for checking accounts without direct deposit.
  • Any overdraft fees incurred will count toward your $750 or $1500 overdraft limit.
  • After one calendar day, there is a $5 per weekday fee charged to accounts with a negative balance.


Does my account qualify?

  • Your account must be open for at least 30 days.
  • Second Chance Checking accounts must be open for at least 90 days.
  • The account has deposits totaling at least $400 or more within each thirty-five (35) day period (for $750 limit); or $500 or more within each thirty-five (35) day period with Direct Deposit in your account (for $1500 limit);
  • The account demonstrates consistent deposit activity;
  • The account owner is current on all loan obligations with us;
  • The account has maintained a positive balance (not overdrawn) at least once every twenty (20) days;
  • Your account is not the subject of any legal or administrative order or levy such as bankruptcy or tax lien.
  • Certain accounts are not eligible for Overdraft Privilege, including those to Minors, Estates, Trusts, Personal
  • Representatives, Public entities, or customers with existing Fresh Start repayment plans;
  • The account holder maintains current mailing address and phone number information with the bank;
  • We may limit the number of accounts eligible to one account per household.
  • We are not obligated to pay any item presented - this is a discretionary service.

Overdraft Privilege applies to a variety of transactions including:

  • Checks
  • Electronic withdrawals
  • Automatic bill payments
  • ATM transactions*
  • Everyday debit card transactions*


If your account meets the qualifications listed above, you will be automatically enrolled in Overdraft Privilege.

*However, you must opt-in if you want your ATM and debit card transactions covered by Overdraft Privilege. If you would like us to authorize and pay overdrafts on ATM and everyday debit card transactions, please call 417-888-3000 or complete a consent form at any Liberty Bank location.

Participation in Overdraft Privilege is not mandatory. You may opt out of this service or a portion of this service (ATM and everyday debit card transactions) at any time by visiting one of our convenient locations.

Please remember, Overdraft Privilege is a service and should only be used when absolutely necessary. Consider other options carefully such as maintaining a positive balance in your account at all times or transferring funds between accounts to avoid a potential overdraft. In addition to Overdraft Privilege, we offer alternative overdraft protection services, such as Linked to Savings Account, which may save you money on the total fees you pay us for overdraft protection services.