Bank of Hawaii has options that may help you avoid your ATM or debit card transactions from being declined at the point-of-sale or ATM. While no one likes to overdraw their checking account, Bank of Hawaii Debit Card Overdraft Coverage is available to cover you in the rare circumstances you would prefer that your transaction be approved and an overdraft occur.
An overdraft may occur when you make a purchase or an ATM transaction with your debit card, but don’t have enough money in your account to pay for it. Our Debit Card Overdraft Coverage is an option for your checking account that may pay the occasional or unintended overdraft for a one-time debit card purchase or ATM transaction. Whether we pay any overdraft is entirely discretionary on our part, and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, you are not making regular deposits, or you have too many overdrafts.
There is no fee to sign up or to cancel this service, although a flat-fee of $26 will be applied each time you overdraw your account. However, you will be charged no more than three Overdraft and/or Returned Item fees on any one day per account. We will not charge you an Overdraft or Returned Item fee on any day your ending balance is or would have been overdrawn by less than $5. In addition, for each continuous 7-day period the end of day balance in your account is overdrawn by $5 or more, we may charge you $10. If an item under $2.50 causes an overdraft, you will not incur an Overdraft or Returned Item fee.
Debit Card Overdraft Coverage is a convenience that might help you avoid declined transactions at point-of-sale or at the ATM. It may also serve as a “back-up plan” when you don’t have another way to pay. Debit Card Overdraft Coverage also gives you flexibility. If you enroll now, you can cancel at any time. If you do not enroll now, you can always enroll later. However, if you don’t take any action, you will not be covered by Debit Card Overdraft Coverage. Regardless of whether you enroll in Debit Card Overdraft Coverage, the Overdraft fee and the Continuing Negative Balance fee, both of which are described above, will still apply to checks and other transactions (such as in-person withdrawal, automatic payment and recurring check card transactions). If we do permit any overdraft or otherwise allow your account balance to drop below $0, you must pay the amount of the overdraft promptly without notice or demand from us.
To enroll for Debit Card Overdraft Coverage, you can do any of the following:
Click here to download the authorization form or ask a banking representative for a "What You Need to Know About Overdraft and Overdraft Fees" form. Complete it and present it to any banking representative at any Bank of Hawaii branch.
Press “0” and tell the customer service representative that you would like to enroll in Debit Card Overdraft Coverage.
In addition to Debit Card Overdraft Coverage, there are other overdraft protection plans for which you may enroll or apply. Bank of Hawaii offers a line of credit, Bankoh CoverCheckSM, as overdraft protection, for an annual fee (waived for Bankohana accounts). We also offer a link to your Bank of Hawaii savings account to cover transactions when you overdraw your account. Please ask a Bank of Hawaii representative for a schedule of fees that apply for these other overdraft protection services. If you require more information, we encourage you to visit the nearest Bank of Hawaii branch and speak to a banking representative about your alternatives.1Debit Card Overdraft Coverage is not available for EASE by Bank of Hawaii accounts.