Peace of Mind Protection
How It Works
If your designated checking account balance falls below $0.00, Mediapolis Savings Bank will automatically transfer funds from your selected sweep account to cover the shortage, when funds are available.
Transfers are made in an amount sufficient to bring your checking account back to a positive balance of $1.00, unless a greater minimum balance is requested by you.
Benefits
- Helps prevent returned checks and declined transactions
- Provides automatic overdraft protection
- Offers peace of mind knowing funds can be moved when needed
- Eliminates the need to manually transfer funds between accounts
- Helps maintain uninterrupted access to your checking account
Service Fees
For each day a transfer occurs, a fee of $4.00 plus applicable sales tax will be charged to the account providing the funds.
Important Information
By enrolling in the Insufficient Funds Sweep Service, you authorize Mediapolis Savings Bank to:
- Transfer funds from your designated ("debited") account to your designated ("credited") account when the account balance falls below $0.00.
- Transfer only the amount necessary to cover the shortage and restore a positive balance.
- Leave a balance of $1.00 in the credited account after the transfer.
- Charge the credited account a fee of $4.00 plus applicable sales tax for each day a transfer is made.
Questions?
Our team is available to help explain how Insufficient Funds Sweep Service works and determine whether it is right for you.
Contact Mediapolis Savings Bank at 319.394.3191 or visit one of our locations for more information.
We can provide credit to purchase farm equipment on a term basis.
Helping you obtain the proper tools your company needs.