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Update: Overdraft/ Uncollected Fees on Personal Checking

We're committed to supporting your financial wellness — that's why we're excited to share positive changes to reduce or eliminate certain fees on personal checking accounts.

Starting August 1, First National Bank LI is making the following changes:

$50 OD/UNC Grace Limit— a newly established $50 grace limit on overdraft charges. This means no fees will be assessed if you overdraw your account by $50 or less.

Reducing OD/UNC Fee from $38 to $15 — overdraft fees will be lowered from $38 to $15 when the bank covers a payment, resulting in an overdraft on your account. We will only charge for one item per day.

Eliminating Remaining OD/UNC Fee — no longer charging a $10 per day fee when an account remains overdrawn.

Eliminating OD/UNC fees on Returned Items — no overdraft fee if we declined or returned an item unpaid when there weren't enough funds in the account.

Eliminating Transfer Fee from OD Line of Credit — no longer charging a fee for overdraft use of Credit Lines for paid items. Interest still applies on credit line charges.

Automatic Overdraft Transfer Functionality — introducing new functionality linking accounts for automatic transfers to cover overdrafts.

To learn more about these overdraft updates for Personal Checking or linking accounts for overdraft coverage, please contact your local Branch Representative, we're excited to connect!