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New Mexico Bank & Trust believes that it is important to use your checking account responsibly. We also understand that mistakes and financial shortfalls happen from time to time. The following three services are available to help you in the event that your checking account should become overdrawn:


Overdraft Privilege™ (ODP)

overdraft privilege

Overdraft Privilege Coverage is a service that provides a pre-determined “safety net” in the event your account should become overdrawn. The bank, at our discretion, may pay a transaction even though non-sufficient funds exist in the account, saving you from the inconvenience, cost and possible embarrassment of having your transaction denied.

Full Overdraft Privilege Coverage: The bank, at our discretion, will pay transactions covered by Standard Overdraft Coverage in addition to everyday debit card and ATM transactions. An overdraft (non-sufficient fund) fee may apply for each item on your account causing an overdraft. Standard Overdraft Privilege Coverage is required to qualify for Full Overdraft Privilege coverage. Full Overdraft Privilege coverage must be elected by the customer. A $35.00 fee per item per presentment will apply to any overdraft (non-sufficient fund) or returned items.1 For details regarding changing your Overdraft Privilege election or adding additional Overdraft Protection services visit your local branch or contact us at 877.280.1856.

Standard Overdraft Privilege Coverage: Standard Overdraft Privilege coverage will pay checks you write and automatic recurring payments deducted from your account that result in a negative balance. Standard Overdraft Privilege Coverage may not authorize everyday debit or ATM transaction when they would overdraw your account. An overdraft (non-sufficient fund) fee may apply. At our discretion, we may decide to pay the check or process the transaction even though you don’t have sufficient funds available; however, there is no guarantee that we will decide to do that. In some cases, your check will be returned, or your transaction will be declined and you may incur a returned item fee. A $35.00 fee per item per presentment will apply to any overdraft or returned items.1 All newly opened checking accounts default to Standard Overdraft Privilege Coverage; however, this can be changed at any time. For details regarding changing your Overdraft Privilege Coverage election or adding additional Overdraft Protection services visit your local branch or contact us at 877.280.1856.

No Overdraft Privilege Coverage: You have the option to have No Overdraft Privilege Coverage, but it is important to know that in the event of unavailable funds your transactions may get declined (debit card) or returned unpaid (Checks/ACH) upon presentment. Return Item fees and Overdraft (Non-sufficient Fund) fees may still apply. Additionally, recurring debit card transactions will always be paid, and an Overdraft (non-sufficient fund) fee will be charged if funds are not available. For details regarding changing your Overdraft Privilege election or adding additional Overdraft Protection services visit your local branch or contact us at 877.280.1856.


Overdraft Transfer

overdraft transfer

This service provides overdraft protections from another checking, savings or money market account. In the event of a negative available balance, the amount and the $10.00 fee will automatically be transferred from the predetermined account to cover the negative available balance. The $10.00 per use fee will be deducted from the checking account that has this overdraft protection. The $10.00 Overdraft Transfer fee will not be charged when the account is overdrawn by $5.00 or less.

Visit one of our banking centers to set up Overdraft Transfer.


Ready Reserve

Ready Reserve

This service is an unsecured revolving line of credit attached to a checking account and designed to provide overdraft protection. Qualification will be based on your application and credit approval. Loan advances will automatically transfer the exact amount to cover the overdrafts up to your credit limit. A $25.00 annual fee will be assessed.

Visit one of our banking centers to set up Ready Reserve.

Overdraft Product Disclosures

1 Overdraft Fee, Returned Item Fee and Nonsufficient Funds $35.00 per item per presentment. Fees apply to transactions created by check, in-person withdrawal, recurring debit card transactions, or other electronic means. Overdraft fees will not be imposed on ATM withdrawals or one-time debit card items unless the customer has opted in. Overdraft Privilege: The total of the discretionary overdraft privilege (negative) balance, including any and all bank fees and charges, and interest charges is due and payable upon demand. Approval of payment of overdrafts by the bank on consumer accounts in good standing is only a discretionary courtesy, and not a right or obligation. For Consumer accounts: No fee will be charged when the account is overdrawn five ($5.00) dollars or less. Overdraft fees are assessed on up to five items per day, with the maximum not to exceed $175.00. For Ready Reserve, normal underwriting guidelines apply. A $25.00 annual fee will be assessed.