Peoples Bank is committed to providing a higher level of service, which is why on January 1, 2023, we eliminated our Non-Sufficient Funds (NSF) fee for returned unpaid checks and/or ACH transactions. These changes apply to all Peoples Bank consumer and business accounts.

If your account lacks sufficient available funds and a debit transaction is paid, Overdraft (OD) Fees may still apply, however there are steps you can take to avoid them. Find additional information and resources about our Overdraft Management Services here. 
 
We are proud to be one of the first community banks in Washington State to make this important change. This enhancement is one of several we’ll be making this year to improve our products and services, as well as your overall customer experience. 

What do these changes mean for you?

Beginning January 1, 2023:

Returned Item Fee (Non-Sufficient Funds) - $0
A debit transaction is considered NSF when it is presented for payment, your account lacks sufficient available funds to pay that item, and that transaction is returned unpaid.

Overdraft Item Fee (per item, per occurrence) - $35
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. When an overdraft occurs, we can handle it in two different ways:

1. Peoples Bank’s standard overdraft practices, Overdraft Management Service (OMS), which automatically comes with your checking account.
2. Peoples Bank also offers the following overdraft protection services:
   • To reduce the cost of overdraft activity, link your checking account to another checking or savings account. If you overdraw your checking account, money is automatically taken from your linked account according to your transfer instructions. Deficit Transfer Fee of $5 may apply to each transfer.
   • An alternative to a linked checking or savings account is a line of credit. Peoples Bank offers Home Equity, Personal, and Express Lines of Credit that can be used to cover overdrafts. There is no charge when transferring money from your line of credit into a checking or saving account; however, interest charges continue to apply in accordance with the terms of your loan agreement.

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

We do authorize and pay overdrafts for the following types of transactions:

• Checks and other transactions
• Automatic bill payments

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

• ATM transactions
• Everyday debit card transactions

Learn how to opt-in to pay ATM/debit card transactions here

Overdraft decisions will be made at the Bank’s 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 as NSF. In certain instances, the timing of a debit or ATM transaction may be such that the transaction is authorized, and we become obligated to pay it without a fee, even if your account has insufficient funds.

What fees will you be charged if Peoples Bank pays your overdraft?

• We will charge you $35 each time we pay an overdraft.
• This fee is waived for items less than or equal to $20 or if your available balance at the end of the business day is overdrawn $20 or less.
• Consumers could receive up to a limit of four $35 fees per account and non-consumers could receive up to a limit of six $35 fees per account in a business day.
• There is no limit on the total fees we can charge you for overdrawing your account over time.

Additional Information regarding our standard overdraft practices can be found in our Peoples Bank Overdraft Management Service document.

For questions or assistance regarding these changes or overdraft fees and ways to avoid them please contact Peoples Bank customer service at (800) 584-8859 or visit your nearest Peoples Bank branch location.