What is Overdraft Privileges?
A. Beacon can save you money and embarrassment with our discretionary Overdraft Privilege that covers you in case you accidentally overdraw your account. This privilege for consumer accounts will generally be limited to a maximum of $700 overdraft (negative) balances after the account has been open for 60 days. Approval of payment of reasonable overdrafts by Beacon Federal on accounts in good standing is only a discretionary courtesy, and not a right or obligation. It is within Beacon Federal’s sole and absolute discretion, and can cease anytime without prior notice of reason or cause.
