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Overdraft Options And how to avoid overdraft fees

Here at First South Financial, we have several options to help you keep your accounts in good standing. We have several tools you can use to stay on top of your accounts, such as:

  • Online Banking - access your account from any PC or tablet to view your account balances, transactions, set up eAlerts and more!
  • Mobile Banking - download the free app from the app store on any smart device and stay in the know when you are on the go
  • 24-hour touch tone teller - call 901-380-7400 at any time and press "1" to use our automated account information system
  • eAlerts - set up these free alerts inside online banking and be notified by text and/or email when your account falls below a certain balance, when a large transaction has cleared, when a direct deposit has posted and more!

If you have a valid email address on file with us, you will automatically receive these eAlerts:

  • When an item has been returned for Non-Sufficient Funds (NSF)
  • When an item has been covered by Overdraft Privilege
  • When funds have been transferred between your accounts
  • When your address has been changed in our system
  • When your email address has been changed in our system

Overdraft options:

Here is a brief description of all of our overdraft options:


With this option you can use another account, such a savings, money market account or a secondary savings account as a source of overdraft funds. There is a per transfer fee, but it can save you from paying an overdraft fee. There is no charge to have this enabled for your account.


This revolving line of credit is attached to your savings or checking account and available funds will be transferred to your account in case there are insufficient funds to cover a transaction. There is no charge to have this enabled for your account.


Advice on how to use Overdraft Privilege

Overdraft Privilege helps protect you against the additional costs, embarrassment, and inconvenience of an accidental overdraft on your account by giving you a reserve for emergencies and unexpected situations. There is no charge for having this privilege on your account unless you use the service. If you do not overdraw your account, you will never be charged an overdraft fee. If you use the service, overdraft fees will apply.

Members who have earned this privilege are notified by mail approximately 7 to 10 days before their account qualifies. Once you've been notified, you can decide to keep it or cancel it. Should you decide to keep it, the privilege may cover any type of transaction that could cause an overdraft of your account: a check, an automatic debit, an ATM withdrawal or a debit card transaction. See a sample notice

Overdraft privilege amounts range from $300 to $2000 and the amount of the privilege is based on several aspects of your account. See a sample of our overdraft privilege policy

Please remember that Overdraft Privilege should only be utilized as a last resort. For support and financial counseling, please visit any one of our banking centers or call us at 901-380-7400.


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