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  • Streamline Your Business with Peoples Bank’s ACH Services

    August 5, 2024

    Categories: business, General

    In the fast-paced world of business, efficiency and accuracy in managing financial transactions are crucial! Peoples Bank's Automated Clearing House (ACH) services offer a streamlined and reliable solution for businesses looking to simplify their payment processes. 

     

    Here’s how our ACH services can transform your business operations:

     

    What is ACH?

    Automated Clearing House (ACH)...
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    Tags: ACH Services

  • 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

  • Maximizing Efficiency: Streamlining Your Business Operations with Digital Banking Solutions

    March 25, 2024

    Categories: business, General, Saving

    In today's rapidly evolving business landscape, efficiency is paramount for success. As businesses strive to stay competitive and agile, the need for streamlined operations becomes increasingly critical. Peoples Bank understands the challenges faced by modern businesses and is committed to providing innovative solutions to enhance efficiency and productivity. In this blog post, we'll explore how leveraging digital banking solutions can revolutionize your business operations,...
    Learn More

    Tags: business, business operations, cash management, digital banking solutions, entrepreneurship, security

  • Cultivating Financial Wellness: Tips for Building a Secure Financial Future

    March 18, 2024

    Categories: Family, General, Personal Finances, Saving

    Achieving financial wellness is not just about accumulating wealth; it's about feeling confident and empowered in your financial decisions, regardless of your income or assets. At Peoples Bank, we believe that everyone deserves the opportunity to build a secure financial future, and we're committed to providing the resources and support needed to make that vision a reality. 

     

    Let’s explore practical tips for cultivating financial...
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    Tags: emergency fund, financial wellness, goals, investing

  • What Checking or Savings Account Type Do You Need?

    February 29, 2024

    Categories: General, Personal Finances

    Choosing the right deposit account is a crucial step in managing your finances effectively. With a variety of account types available, each catering to different needs, understanding your options can help you make informed decisions. 

     

    Personal checking accounts are the foundation of your day-to-day financial transactions. They allow you to deposit and withdraw money, pay bills, and access funds through various channels like checks,...
    Learn More

    Tags: account, checking, savings

  • The Top 4 Advantages of Online Banking

    February 12, 2024

    Categories: General, Personal Finances

    In an era defined by digital innovation, online banking has emerged as a transformative force, revolutionizing the way we manage our finances. Peoples Bank recognizes the pivotal role of online banking in providing convenience, security, and flexibility to our valued customers. In this blog post, we'll explore the top four advantages of online banking, shedding light on why this mode of financial management has become an essential tool for the modern-day individual.

     

    1....
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    Tags: accessibility, online banking, security, transaction

  • 5 Ways to Become More Kind

    January 19, 2023

    Categories: General

    Kindness on a basic level is quite easy. It’s about seeing someone in a favorable light and naturally wanting to be good to them. It involves giving of oneself freely, for the pure reason of helping others without the expectation of reciprocity.

    Why Be Kind?

    Portraying kindness to yourself and to others provides mental health benefits. Contributing kindness to your community encourages others to do the...
    Learn More

  • Peoples Bank SPLASH Program

    December 13, 2022

    Categories: General, Local

    Since 2017, Peoples Bank has partnered with the local YMCA and the Kankakee Public School System to sponsor the SPLASH Program. This lifesaving program guarantees that every second grader has the lifesaving ability to swim. Nobody is left behind.  Over 2,000 children have developed an appreciation of the water, improved self-esteem, and learned to save themselves in case of an aquatic emergency. 

    Why the SPLASH Program? 

    The...
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  • Top 3 Recipes for Winter 2022

    February 7, 2022

    Categories: General, Seasonal

    ‘Tis the season to be freezin’... or something like that. As Midwesterners, we’re familiar with the cold and snowy winter months. Staying warm is a top priority. One of the best ways to do so is by enjoying a hearty meal within the comfort of your home. We have come up with three delicious recipes to keep you warm and cozy this February.

    Classic Shepherd’s Pie 

    If you’re looking to...
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  • P2P 101: Beginner’s Guide to Peer-to-Peer Payment Apps

    July 19, 2021

    Categories: Budget, General, Personal Finances, Saving

    A growing trend for today’s casual marketplace, Peer-to-Peer(P2P) Payment Apps make sending funds from one person to another quick and easy. However, there are pros and cons to consider and potential fees that many are unaware of. Your trusted experts at Peoples Bank of Kankakee County are here to help you choose from these three safe options in P2P apps.

    Zelle

    This P2P app allows users to send money...
    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.