Banking Made Easy

It’s A Privilege for Our Checking Account Clients

Unanticipated expenses or mathematical errors can leave anyone’s checking account short of cash. In addition, having a check returned due to insufficient funds can be embarrassing, too.

That’s why Libertyville Savings Bank created “Overdraft Defender” as a special privilege specifically for our checking account clients whose accounts are in good standing. There is absolutely no charge for this service unless you use it. You need not sign anything, and your own Overdraft Defender limit has automatically been assigned to you. Overdraft Defender is offered on limited deposit accounts including; Regular Checking, Liberty Checking, & NOW checking accounts. 

How It Works

As long as you maintain your Libertyville Savings Bank checking account in good standing, we may, at our discretion, honor your overdrafts up to the limit assigned. If you use Overdraft Defender, the Bank will deduct its normal overdraft charge of $30 per item . We will notify you by mail when an overdraft occurs. The notice will reflect the item(s) paid, as well as the Bank’s charge for the overdraft item(s). It is important to subtract the fees from the balance in your checkbook. Should you write checks that put you over your Overdraft Defender limit, the Bank may, at our discretion, return the check or checks to the payee(s). In addition, the normal returned item fee of $30 per item will be charged to your account. An insufficient funds notice will be mailed to you.

Going Over Your Overdraft Defender Limit

Should you write checks that put you over your Overdraft Defender limit, the bank may, at our discretion, return the check or checks to the payee(s). In addition, the normal returned item fee of $30 per item will be charged to your account. An insufficient funds notice will be mailed to you.

If your checks are returned:

• The merchant may charge you a fee when your check is returned unpaid and may be unwilling to accept checks from you in the future.
• The person who accepted your check as payment may be charged a fee by his/her bank where he/she deposited your check.
• Your credit rating may be adversely affected.

ATM and Debit Card Coverage

Your Overdraft Defender privilege may extend to transactions made at an ATM or with your Debit Card. In the case of an ATM, the balance shown on your receipt will reflect your actual balance, not including your Overdraft Defender limit. Other transactions which may, at our discretion, be honored under the Overdraft Defender privilege include:

• Checks and other debits cashed at teller windows.
• Debit card purchases.
• ACH debit transactions (automatic payments).
• Checks issued to a third party.
• Automatic loan payment.
• Regular checking & Liberty checking limits are $300; NOW checking limit is $500.

Repaying Overdrafts And Fees

You will be required to bring your checking account into a positive balance within 15 calendar days of your overdraft. If, after 35 days your account remains in a negative position, we may close your account and take appropriate steps to recover funds advanced to cover your overdrafts, as well as the Bank’s fees. You do have the option to opt out of the Overdraft Defender program. Please call one of our customer service representatives to discuss this option or other alternatives.

**Please Note **

Any checks returned for insufficient funds will be charged an NSF fee (Non-Sufficient Fund fee) each time, regardless of how many times it is presented.

Remote Deposit Anywhere (RDA) gives you the ability to deposit your check from anywhere with your smartphone. Once you have signed up for online banking and downloaded our mobile app you will click on "deposit a check" from the menu to enroll your account(s). Once we have approved your account you will be able to deposit a check securely with this time savings feature! 

• Deposits must be made before 6:00 pm CST on a business day in order to be considered deposited same day.
• Deposits made after 6:00 pm CST on a business day will be considered deposited the next business day.

Concerned about the security of using your debit card? Apple iPay and Samsung Pay securely stores the details of your card information within your mobile wallet on your devices. With just a touch of your device you can easily make a purchase while keeping your private information secure. Using your digital wallet is a safe a secure way to pay in many businesses! 

Our Libertyville Savings Bank debit card gives you faster, more economical, and a more convenient way to buy the products and services you need. Our debit cards are printed in each LSB location. This means that in most cases you are able pick up your card the same day it is requested!   Sign up now!

FAQs

What do I do if I lost my debit card?

You can log into your online banking account and change the status of your debit card by using the card management feature. You may also contact us using the messages feature in your online banking account, by e-mail  at customerservice@lsbia.bank or by phone at 641-472-9839.

Can I raise my debit card limit for today?

Yes, you may raise your limit temporarily. Contact us by using the messages feature in your online banking account, by phone at 641-472-9839 or stop into any of our branches. If you are leaving on vacation make sure we have your card set to avoid any issues while traveling.

Why won’t my debit card work?

There are a variety of reasons cards reject transactions.

If you are using your card for a purchase internationally and haven’t let us know, the card will not run the transaction. This also applies if you are making a purchase on the internet through an international company.

Is your card expired? Check the expiration date on your card. You should receive a new card in the mail a couple weeks prior to the end of the month your card expires. The new cards are mailed in unmarked envelopes, for your protection, that are sometimes perceived as junk mail.

Is the transaction over your daily limit? Your card has a daily limit for ATMs and point of sale transactions (in the store where you swipe.) If you want to make a purchase over that limit, give us a call and we will temporarily raise it for you.

Are the funds available in your account? Your card may be pre-authorized for an amount that has not posted yet which is deducted from your daily limit amount. If you purchase gas by paying at the pump or reserve a hotel room, they may have pre-authorized your card for more than the amount of the purchase. Upon posting, that amount will be removed and your purchase amount will reflect.

• Transaction must be made before 2:00 pm CST on a business day in order to be considered deposited same day.
• Transaction made after 2:00 pm CST on a business day will be considered deposited the next business day.

We print our checks in house! What does that mean for you? Your checks will be printed and sent to you in less time than with traditional check printing companies. Another great perk - Our in house checks are less expensive than most other providers. Place your order now!