RANDOLPH BANK
Overdraft Privilege

Overdraft Privilege can be very beneficial when you make honest mistakes in your checkbook because it can save you embarrassment and additional fees charged by others. With Overdraft Privilege, we will automatically pay non-sufficient funds checks and preauthorized automatic debits, and charge the non-sufficient funds fee of $29 per item. You will be allowed to overdraw your account up to $500 for a period of thirty (30) days to include any and all bank fees and charges. At the end of thirty (30) days, if you have not brought your account to a positive balance, the bank will mail you an Overdraft Repayment Plan Agreement. This agreement discloses the terms and payment amount of your overdraft balance. By signing the agreement and returning the form to the bank, you accept the terms and conditions of the repayment plan. During the repayment plan period, you are not eligible for the Overdraft Privilege.

How does Overdraft Privilege work? The bank pays all items presented up to a total of $500 including the non-sufficient fee of $29 per item.

Example of daily charges	Item Amount	Checking Account Balance
Beginning Balance		$150.00
Check	$160.00*	-10.00
Paid Overdraft Fee	29.00	-39.00
Preauthorized Debit	200.00	-239.00
Paid Overdraft Fee	29.00	-268.00
Check	350.00**	-268.00
Returned Check Fee	27.00	-295.00

*Randolph Bank checks are paid in the smallest dollar amount first.

**The $350 check in the above illustration was not paid since it would have exceeded the $500 overdraft limit.

Whether your overdrafts will be paid is discretionary. We reserve the right not to pay overdrafts if your account is not in good standing or if you are not making regular deposits, or you have too many overdrafts.

In addition, the bank has a line of credit, Ready Cash, which can be used as an alternative method of avoiding returned checks. Ready Cash is attached to your checking account. There is an interest expense for this service. However, unlike Overdraft Privilege, the account would not be charged the insufficient funds fee. Ready Cash is subject to credit approval. Please see bank personnel for an application.