Overdraft Privilege

 

• Provides a valued service people want.
• Customizable for community banks and credit unions.
• Applicable to personal or business accounts.
• Increases non-interest income.
• Ensures compliance with federal regulations.

Pinnacle Overdraft Privilege programs automate overdraft processing, enhance loyalty and preserve fee income. And unlike traditional non-disclosed, matrix-model programs which can be confusing and unpredictable to consumers, our programs are designed to be consumer-friendly. As a completely disclosed, fee-based privilege, your customers or members can rest assured you’ve always got them covered, and they know exactly what it’s going to cost.

Fully Disclosed and Fully Compliant

Fully disclosed means that your personal and/or business account holders understand their overdraft limit, resulting fees and the ability to choose the coverage that meets their needs. As the industry leader in overdraft privilege, we have established a set of Critical Success Factors focused on service, revenue and risk control. In a regulatory environment that is constantly changing, you can depend on us to always help you meet or exceed regulatory compliance.

Program Design & Consultative Guidance

Our overdraft privilege programs and customizable and turnkey. We work closely with you to develop and implement a customized program for your personal and/or business checking accounts. You can customize details such as your program’s parameter settings; make adjustments based on applicable regulatory agencies; or refine marketing and communications materials based on your customers and your community. In as few as 8 to 10 weeks, you’ll have an overdraft privilege program that is uniquely yours.

Trakker XL -- State of the Art Automation for Your Overdraft Privilege Program

Our overdraft privilege programs fully automate overdraft privilege processing, maximizing your operational efficiency while preserving fee income and enhancing customer loyalty. Our Trakker XL® software works with your core platform to provide the intelligence and capabilities needed to:

• Review daily overdrafts
• Identify limit changes
• Notify account holders of overdrawn status
• Record charge-offs and recoveries
• Prepare documentation for collections
• Maintain historical database of detailed account information
• Produce reports/letters

Trakker XL software has been interfaced with select platforms, allowing your host system to process data directly.

Jack Henry & Associates Integration

For community banks that utilize a Jack Henry core platform, Pinnacle can deliver a fully-integrated solution for the implementation, tracking and management of your Bounce Protection program. No other software is required, which means you’ll get the same look and feel of JHA screens and functionality. With the Jack Henry Bounce Protection module you can:

• Review daily overdrafts and notify customers of their overdrawn status
• Identify and automate limit changes
• Reduce E.I.P. decisioning
• Automate fraud protection test for new accounts
• Record charge-offs and recoveries
• Automate general ledger transactions
• Maintain historical database
• Automate monitoring of excessive usage
• Initiate automated repayment plan
• Interface with Passport, Net Teller and Vertex software

 

Compliance and Regulatory Support

Our proactive compliance support includes regulatory alerts, website updates and hands-on personal consultation upon request. The ODP Client Care site offers the latest information on regulatory matters and best practices to ensure your overdraft privilege program starts out and remains fully compliant.

Training to Fit Your Needs

Pinnacle’s Smart Service Training ensures your employees understand program features and operation, can fully explain ODP benefits and are equipped to answer customers’ questions on overdraft privilege. Our expert trainers help employees in all your locations gain the program knowledge and service focus that makes your overdraft privilege program a success for your institution and your customers or members.

Expert Customer Service and Support

Pinnacle experts ensure you get the service and support you need to achieve your objectives and optimize your overdraft program’s performance.

The Pinnacle team includes former bankers, regulators, industry analysts, program experts and best-of-breed business partners. You receive support every step of the way, from implementation and initial training through ongoing performance reviews and program revitalization as needed, to maximize results.