Overdraft Protection

MidWestOne Bank offers several options to choose from to protect your Checking Account in the event a transaction results in an overdrawn balance. Transactions that may cause your account to be overdrawn and overdraft plans to be used include checks, other debit transactions made using your Checking Account number, automatic bill payments, ATM transactions and everyday debit card transactions. We will not authorize ATM and everyday Debit Card (debit card) transactions within our OOPS Service that will overdraw your account without first receiving your affirmative consent to do so. Absent your affirmative consent, ATM and everyday Debit Card overdraft transactions on accounts within our OOPS Service generally will not be paid.

Overdraft Protection Plans (more than one service may be used, and are activated in numerical order):

1. Automatic Transfer from Checking, Savings, or Money Market

Transfers from your Checking, Savings, or Money Market Account will be made in multiples of $100 to cover each overdraft in your Checking Account. Debit Card and ATM transactions will be authorized based on your available balance in your transfer account.  A fee of $5 plus applicable state sales tax will be charged to your Checking Account for each transfer.

2. Automatic Transfer from an eligible Line of Credit

Advances in increments of $100 on an eligible Line of Credit (Home Equity Line of Credit or Commercial Line of Credit) can be made to cover each overdraft on your Checking Account up to your credit limit. Debit Card and ATM transactions will be authorized based on your available balance in your transfer account.   Interest will be charged per your loan agreement on the outstanding balance on your Line of Credit. We do not charge a service fee for this service. Subject to credit approval.

3. OOPS (Occasional Overdraft Protection Service):

This service will help you avoid high charges from merchants for returned checks and the inconvenience of denied purchases and dishonored checks. It pays occasional and inadvertent overdrafts up to your assigned OOPS limit up to $800 for eligible consumer accounts or $1,500 for eligible business accounts. This limit includes our customary fees as set forth in the OOPS Occasional Overdraft Privilege Service Guidelines. Our fees will be added to any outstanding overdrafts you may have and will be applied against your OOPS limit. There is no cost to be enrolled in OOPS. Our OOPS Guidelines are available as a PDF

Electronic Monitoring and Alerts

MidWestOne Bank’s Personal Online Banking Service and Mobile Banking Service provide customizable account alerts. You can be notified via email, text message, or both if your account balance ever falls below a particular threshold. This service is free, though text and data rates may apply. Learn more about electronic monitoring alerts within the Personal Online Banking portal on our website.


For OOPS Consumer Accounts Only

What if I want MidWestOne Bank to authorize and pay overdrafts on my ATM and everyday Debit Card transactions?

Please complete and submit MidWestOne Bank’s Reg E Opt In/Opt Out form.