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  • Preparing to Buy a Home in 2025

    December 16, 2024

    Categories: Home, Mortgages

    The housing market is always evolving, and 2025 is shaping up to be an exciting year for prospective homebuyers! Whether you're a first-time buyer or planning to upgrade, preparation is key to making a smart investment. 

     

    Here's how to get ready to buy your dream home in the coming year.

     

    1. Understand the Current Housing Market

     

    The real estate market fluctuates based...
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  • Winter is Coming: Preparing for Your Home Purchase with Peoples Bank

    November 18, 2024

    Categories: Home, Mortgages

    As the crisp air and cozy evenings of winter approach, many potential homebuyers start to wonder if this is the right time to make a move. While summer may be the traditional home-buying season, winter offers unique advantages that can make it an ideal time to purchase your dream home. At Peoples Bank, we're here to help you navigate the winter real estate market with confidence. Here’s how to make the most of this season and how our mortgage services can support you through...
    Learn More

    Tags: home purchase, house, mortgage

  • Buying a Home in the Fall: Why It Could Be Your Perfect Opportunity

    October 3, 2024

    Categories: Home, Mortgages

    Missed Out on Buying a Home This Summer? Don’t Worry—Fall Could Be the Perfect Time to Buy!

    If you didn’t find your dream home during the busy summer months, there’s no need to stress. Fall offers unique advantages for homebuyers that can make it a great time to find the right property. 

    Here’s why the fall season could be your perfect opportunity—and how Peoples Bank can help you along the way!

    Why...
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    Tags: buying a home, mortgage, real estate

  • Do You Need Both a Home Inspection and an Appraisal When Buying a Home?

    September 23, 2024

    Categories: Home, Mortgages

    When purchasing a home, you want to ensure that the property is not only worth the price you're paying but also free from any major issues that could turn your dream home into a nightmare.

     

    To protect your investment, it's essential to understand the roles of both a home inspection and an appraisal, and why having both can offer you peace of mind as you move forward with one of the most significant purchases of your life.

     

    Learn More

    Tags: appraisal, home inspection

  • Don’t Repeat These 4 Home Buying Mistakes

    April 15, 2024

    Categories: Home, Mortgages

    Buying a home is a significant life milestone, but it can be a complex and sometimes overwhelming process. Learning from the mistakes of others can save you time, money, and stress on your home buying journey. 

     

    Here are four common home buying mistakes to avoid:

    1. Skipping the Pre-Approval Process:

    One of the most crucial steps in the home buying process is getting pre-approved for a mortgage....
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    Tags: buying a home, home buying mistakes, home ownership, mortgage, pre-approval

  • 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...
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    Tags: home ownership, mortgage, new home

  • Key Takeaways for Cybersecurity Awareness Month: Protecting Your Finances While Traveling This Holiday Season

    October 5, 2023

    Categories: Cybersecurity, Family, Home

    If you are planning to travel during the upcoming holiday season, Peoples Bank wants your journey to be memorable, cost-effective, and most importantly – safe. As we embrace the spirit of October’s Cybersecurity Awareness Month, remember the importance of safeguarding your finances while embarking on holiday travel. Keep reading as we guide you through tips to amplify your cybersecurity, as well as your savings! 

    Incorporating Essential Cybersecurity...
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  • Fun Ways to Celebrate Independence Day with Friends and Family

    June 27, 2023

    Categories: Family, Home

    The Fourth of July is the highlight of the summer. This special day commemorates the date in 1776 when America’s Declaration of Independence was signed, marking our independence from Britain. Since then, we’ve celebrated each year with barbeques, parades, and fireworks.   

    If you are looking for some festive...
    Learn More

  • Best Spring Planting Ideas in Illinois

    May 23, 2023

    Categories: Home, Seasonal

    Planting in the Midwest is a science – one month the weather is in the mid-80s and the next below zero with hail. As we spring into the warmer months, it’s time to begin planning your plant list for summer! Keep reading as we guide you through some great garden plants to consider this year. 

    Pre-Plan Your Plants  

    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.