Honor Guard is a service that allows the bank to pay an item presented against your checking account balance when the funds are not available, even if it causes the account to become overdrawn.
Honor Guard provides account holders the ability to overdraft their checking accounts up to the following amounts:
Honor Guard offers additional flexibility and convenience in managing account holder funds and provides peace of mind knowing that items may be paid up to the authorized overdraft limit.
Accounts that utilize Honor Guard must remain in good standing by:
A) Making regular deposits sufficient to cover transactions
B) Maintaining a positive account balance
C) There are no legal orders outstanding on your account
We may, at the bank's sole discretion, pay overdrafts up to the limits mentioned above, to include the bank's normal Overdraft Item Charge(s) of $35.00 and/or Insufficient Item Charge(s) of $35.00. There is a limit of $210.00 in fees per day that the bank may charge you for overdrawing your account. If your items result in an overdraft on your account by $5.00 or less no fees will be incurred. Items may not clear in the order in which they occurred, but rather in the order in which they are received and processed by the bank. The bank will send all customers a notice each time an overdraft occurs.
The service is free of charge unless the privilege is used – by initiating checks, electronic funds transfers, or other payment or withdrawals for more than the balance in your account. You may also have your ATM and everyday transactions approved, but you must first Opt-In for this service or they will be declined. Please visit your nearest branch location for more information.
Honor Guard allows Moody National Bank to provide a higher level of service to our customers by helping to protect customer’s accounts and reputation when an inadvertent overdraft occurs.
Customer Benefits of Honor Guard will save:
• The embarrassment of a returned check
• The time and inconvenience of picking up a returned check
• The extra fees that retailers charge for returned checks
• Possible blemish on your credit report
Customers Notifications:
• 1 Day – Non Sufficient items paid or returned
• 15 Days – Reminder notice to bring your account balance positive or lose privilege
• 25 Days – Removal of Honor Guard privilege if the account is not brought to a positive balance on or before the 30th day
• 30 Days - Charge Off of account if balance is not positive on the 30th day
You may opt-out of Honor Guard at any time. If you do not want us to pay your overdrafts, you must notify the bank in writing.
