1st Source Bank

Debit Card Overdraft Coverage

Has your debit card overdraft coverage expired?
Because of recent regulatory changes we can no longer automatically offer overdraft protection service on your debit or ATM card. This means if you haven't told us that you want coverage, any purchases or transactions that will overdraw your account will be declined. Please let us know if you want this coverage.
What is overdraft coverage?
The overdraft coverage option at 1st Source Bank allows your everyday, one-time debit card and ATM transactions to be approved, at our discretion, when there is not enough money available in your account.
You must let us know if you want this coverage. By opting-in, you may be covered for purchases that are important to you such as groceries, prescriptions, gasoline and more.
How do you get overdraft coverage?
Stop by your banking center or give us a call at (574) 235-2000 or 800 513-2360 to select coverage.
What happens when you decide NOT to opt-in?
When you do not opt-in, the bank will decline your everyday debit card and ATM transactions when there is not enough money available in your account.
What is the cost?
It's free to sign up. You pay only if you use the coverage. If the bank pays for a transaction where you do not have sufficient funds, you will receive a $36 charge. If you don't overdraw, there is no charge.
What to do:
To choose to have debit and ATM card overdraft coverage:
  • Call us at (574) 235-2000 or 800 513-2360, or
  • Visit one of our local banking centers, or
  • Complete the Choice Form, drop it off at your banking center or mail it to:
            Debit Card Overdraft Choice, c/o Deposit Services
            1st Source Bank
            P.O. Box 1602
            South Bend, IN 46634
To choose no coverage: There is no need to do anything. You're already opted-out.
You can switch options at any time in the future if you change your mind. No questions asked. Just call or stop by and we'll be happy to make any changes.
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