What are overdraft fees?

Overdraft fees are charged to your account if you’ve made a payment or a purchase without the funds in your account to cover it. At Lake Trust, Courtesy Pay is an overdraft solution that comes automatically with your Easy Checking or Money Market account. Courtesy Pay may approve and cover transactions, such as automatic bill payments or ACH transactions, when your account doesn’t have the funds. There are fees for this service. 

3 Tips to avoid overdraft fees:

1. Stay informed on your account balances.

The best way to avoid overdraft fees is to keep track of your current balance whichever way works best for you. Knowing your balance, including recent transactions and any upcoming payments, can help you avoid paying overdraft fees. Remember that some transactions may take longer to process. Consider keeping a cushion of money in your account just in case. Or set aside a small amount each month to help with future or unexpected expenses.

Sign up for Lake Trust online and mobile banking to manage your account from where you are, when you need it. Online and mobile banking also has other tools to help you pay bills, deposit checks from your phone, and a free budgeting tool to help plan out your expenses.

2. Set up account alerts.

Another way to stay on top of your account balances is to set up balance and transaction alerts. These are notifications that can be sent to your email, your phone, or both. Customize your alerts in Lake Trust Online Banking. Set up alerts for low balances, large withdrawals, for when checks have cleared, and more. Or set up personal messages and reminders.

3. Link other deposit accounts to cover overdrafts.

If the unexpected happens, it can help to link another deposit account or a line of credit to your account to act as a backup. That way, the funds are transferred from the linked account or line of credit instead of being charged potential overdraft fees. Multiple accounts can be linked. There is no fee for transferring funds between linked personal accounts. Speak with a Lake Trust team member for more information on how to make sure you have backup, or linked, accounts set up.

What else you need to know.

Recent changes to Courtesy Pay and Non-Sufficient Funds (NSF) Fees. The Courtesy Pay and Non-Sufficient Funds fees changed March 3, 2025, from a $32.00 fee to the following tiered fee structure: no fee for transactions $10.00 and below; a $10.00 fee for transactions $10.01-$20.00; a $20.00 fee for transactions $20.01-$32.00; and a $32.00 fee for transactions $32.01 and over. In addition, a member cannot be charged more than five overdraft fees per day.

View the current Fee Schedules. Log into Online Banking. After logging in, choose the e-statements tab and select “Other Documents.” Or find the information online at laketrust.org/disclosures. If you have questions, please give us a call at 888.267.7200.

Stay connected. If the unexpected happens, reach out to us. There may be other solutions and resources that we can offer as you navigate your situation. And support you as you get back on track toward your best financial future.