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A group of friends who have overdraft services relax and dangle their legs on the edge of a pier

Overdraft Service Options

We understand. It happens. A deposit is unexpectedly delayed. A mistake is made balancing the checkbook. An unforeseen expense leaves less than the needed amount in your account.

First Midwest has four overdraft service options to help you manage your money and cover a potential overdraft.

  • Overdraft Protection
  • Overdraft Protection with Extended Coverage
  • Ready Cash
  • Custom Auto Transfer

Watch the Video. Know Your Options. Understand the Trade-Offs. Make the Best Choice for You.

Overdraft Protection1

Overdraft Protection, our standard overdraft service, provides a limited reserve to cover items such as checks, ACH/automated payment items and recurring debit transactions (such as automatic payments for subscriptions, dues, utility bills, etc.) and in-person transactions.

Overdraft Protection with Extended Coverage adds coverage for ATM and everyday debit card transactions to our standard Overdraft Protection service. Learn more about Overdraft Protection.

Ready Cash

Ready Cash, an unsecured line of credit2 accessed through your First Midwest Checking account, helps you manage unexpected expenses and gives you peace of mind knowing you are covered against overdrafts that can occur due to temporary cash flow shortages. You can access your Ready Cash Line of Credit by writing a check, using your First Midwest debit card, or by visiting the branch nearest you for a cash advance.

With Ready Cash:

  • Funds are automatically advanced into your checking account in $100 increments (up to your approved credit limit) when your checking account funds are depleted.
  • Your checking account is automatically debited for monthly payments, or you can pay off the balance at any time.
  • Interest rates are often lower than those charged by credit cards.

Call 800-322-3623 to apply for Ready Cash today.

Custom Auto Transfer3

If Ready Cash does not sound like the right fit, you can also establish a Custom Auto Transfer (CAT) between your First Midwest Checking, Savings or Money Market accounts, where funds from a designated deposit account are automatically transferred into your checking account when your checking account funds are depleted.

Call 800.322.3623 to establish a Custom Auto Transfer between your First Midwest checking, savings or money market accounts today.

Additional Information

For more information on overdrafts, please visit the Federal Deposit Insurance Corporation's website.

1 If your consumer account (primarily used for personal, family and household purposes) has been open for at least thirty (30) calendar days, and you maintain your account and each of your other First Midwest Bank accounts in good standing, First Midwest Bank will have the discretion to pay overdrafts within the Overdraft Protection limits. Payment is a discretionary courtesy and not a right of the client or an obligation of First Midwest Bank. "Good standing" means, at a minimum, you bring your account to a positive balance for a minimum of one business day within each thirty (30) calendar day period and you are not in default on any loan or other obligation. Overdraft Protection standard coverage includes the payment of checks, ACH items and recurring debits (typically used for automatic payment of subscriptions, dues, utility payments, etc.), and in-person transactions. Overdraft Protection with Extended Coverage adds coverage to include the payment of ATM and everyday Debit Card transactions if you provide your consent to have these types of transactions covered. Overdraft Protection for consumer checking, savings, and money market accounts will generally be limited to a maximum of $500 overdraft (negative) balance. Any and all fees and charges, including without limitation the Overdraft and Returned Item Fees, will be included in the overdraft amount. Your overdraft amount may exceed the Overdraft Protection amount as a result of the assessment of a fee. An overdraft item fee of $36 will be assessed (and subtracted from your Overdraft Protection limit) each time we pay an overdraft item (limit 5 per day). We will not charge you an overdraft item fee if your account is overdrawn by $5 or less. There is a limit of $180 per day on the total overdraft item fees we can charge you for overdrawing your account. Also, if the account remains overdrawn for seven calendar days, regardless of the amount overdrawn, we will charge a Continuous Overdraft Fee of $32, which will be applied to your account on the first Business Day following each such seven consecutive day period your account remains overdrawn. We also offer overdraft service options, such as a link to a savings account, or line of credit (subject to credit approval) which may be less expensive than our standard overdraft practices. First Midwest Bank pays items as disclosed in your Retail Account Agreement and Disclosure in section 4 titled "Overdrafts and Returned Items, Transaction Processing Order, and When Fees Are Charged." You can remove Overdraft Protection and/or Overdraft Protect with Extended Coverage at any time by contacting us.
2 Subject to credit approval. Advances are subject to approved credit limit/availability. Annual fee, per use transfer fee, and finance charges apply.
3 Transfer limitations apply and are subject to available funds in the transferred from account. Per use transfer fee applies.