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  • Celebrating National Financial Awareness Day: Your Guide to Financial Wellness

    August 13, 2024

    Categories: Budget, Family, Personal Finances

    National Financial Awareness Day is August 14th! It’s a perfect opportunity to take charge of your financial future and set yourself up for success. At Peoples Bank, we believe in empowering our community with the knowledge and tools needed to achieve financial wellness. Here’s your guide to financial wellness in getting ready for this important day.

     

    1. Set Clear Financial Goals

     

    Start by defining...
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    Tags: guide to financial wellness

  • Mastering Your Financial Journey: A Guide to Personal Banking Excellence

    May 13, 2024

    Categories: Budget, Family, General, Personal Finances, Saving

    Embarking on a journey toward financial wellness is a transformative experience, and at Peoples Bank, we're dedicated to helping you navigate every step of the way!

     

    In this blog post, we'll delve into the realm of personal banking and finance, exploring the array of services and resources available to empower you on your path to financial success.

     

    1. Personal Checking Accounts: The cornerstone of personal...
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    Tags: CD, checking account, online banking, personal banking, savings account

  • Guide to Mortgage Pre-Approval: Your Key to Homebuying Success

    March 8, 2024

    Categories: Budget, Home, Mortgages, Personal Finances, Saving

    Embarking on the journey to homeownership is an exciting milestone, but navigating the mortgage process can feel overwhelming without proper guidance. At Peoples Bank, we understand the importance of making informed decisions when it comes to purchasing a home. That's why we're here to simplify the mortgage pre-approval process and equip you with the knowledge and tools you need to achieve your homeownership goals.

     

    What is Mortgage Pre-Approval?Learn More

    Tags: home owner, homebuyer, mortgage, mortgage pre-approval, pre-approval

  • How Much Can You Afford to Spend on a New Home?

    February 19, 2024

    Categories: Budget, Home

    Embarking on the exciting journey of purchasing a new home is a significant life milestone, but it comes with the crucial question: How much can you truly afford? Peoples Bank understands the importance of making informed financial decisions, especially when it comes to such a substantial investment. In this blog post, we'll guide you through the essential considerations to help you determine a realistic budget for your new home, ensuring that your dream home aligns harmoniously...
    Learn More

    Tags: home ownership, mortgage, new home

  • How to Budget Rising Food Prices

    January 10, 2023

    Categories: Budget, Home, Personal Finances, Saving

    It’s no secret food prices have risen lately. Since food is at the top of the list for basic human needs, we’re all interested in combating these rising costs this winter. Keep reading for some helpful tips. 

    1.    Eat Out Less

    Dining out is an extremely expensive option, especially if you already budget for a full list of groceries. If you think about it, many meals you purchase out...
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  • Creative Summer Activities to Crush Kids’ Boredom

    July 12, 2022

    Categories: Budget, Family

    Summer is here and we love summer vacation. But that means it is time to entertain our kids all day long. Here are some unique activities to chase the boredom blues away and keep the kids off the couch.   

     

    Summer Slip N’ Slide 

    Learn More

  • How To Start and Manage a Checking Account in College

    June 7, 2022

    Categories: Budget, Saving

    Are you college bound and wondering how you will manage your finances when you are out on your own? This blog is for you! Peoples Bank has made opening and managing your checking account easy. 

    Where to Begin 

  • How to Save When Booking Summer Vacation

    April 5, 2022

    Categories: Budget, Family, Saving, Seasonal

    Summer may be a few months away but planning early will ensure a relaxing and affordable experience. Start your planning process now and use these tips to make your summer vacation seamless and inexpensive.  

    Book Airline Tickets Well in Advance 

    Advanced planning is key for a successful, budget friendly vacation. Decide where and when you would like to travel. Consider looking for attractive...
    Learn More

  • How To Talk To Your Kids About Money

    March 9, 2022

    Categories: Budget, Family, Saving

    Teaching children to be financially responsible can be a lot of work. Often times, schools don’t address topics like money, credit and interest until middle school or high school. Helping young kids cope with challenges like setting spending limits and impulse control can help them early on get smart about spending. 

    Talk About Money Young

    Learn More

  • Make 2022 Your Best Financial Year Yet

    February 1, 2022

    Categories: Budget, Personal Finances, Saving

    If your New Year's resolution was to take control of your finances, you’re in the right place. We’re here to give you some ideas on how to make 2022 your best financial year yet. All it takes is some time, discipline and lots of motivation! 

    1. Figure out your monthly income. 

    Begin by determining exactly how much money (after taxes and deductions) you have coming in each month. If your monthly...
    Learn More

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What You Need to Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

  1. We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
  2. We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account.  It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

 

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • ATM transactions
  • Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

 

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30 each time we pay an overdraft.
  • The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
  • No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
  • There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

 

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance.  If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

 

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.    

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

 

Alternate ways to Opt In/Out or make changes:

  • By Phone.   Our Customer Care Representatives can be reached at 815-936-7600.
  • By Mail.   Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
  • In Person.  Please visit your local office and ask a representative to help you decide which plan is best for you.