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Overdraft Privilege
for Peace of Mind Banking!

How would you like Peace of Mind Banking? Merchants and Farmers Bank has it!

We are constantly evaluating new products and better ways to serve our customers. We have added overdraft privilege to personal checking accounts. Meaning – As long as the account is in good standing (Defined in the Overdraft Privilege Policy below) and if it is overdrawn, the bank will charge the normal NSF charge(s) and pay the checks up to a limit of $300.00. The customer will receive a notice each time an overdraft(s) occurs. Some restrictions may apply to Overdraft Privilege. For more information on this service, you may contact our Bookkeeping Department at (870) 382-6071.

Merchants and Farmers Bank

  Dumas, Arkansas (870)382-4311


It is the policy of our Bank to comply with applicable laws and regulations, and to conduct business in accordance with applicable safety and soundness standards. 

The overdraft privilege balance is NOT added to your account balance for availability, but rather may be accessed if your account becomes insufficient or is overdrawn.  An insufficient balance may result from:  A) The Payment of checks, electronic funds transfers, or other withdrawal requests using your checking account number; B) Automatic payments authorized by you; C) The return, unpaid, of items deposited by you; D) The imposition of bank service charges; or E) The deposit of items which according to the Bank's Funds Availability Policy, are treated as not yet "available" or finally paid.  We do NOT authorize and pay overdrafts for ATM and/or debit card transactions against the overdraft privilege amount.

We are not obligated to pay item(s) presented for payment if your account does not contain sufficient collected funds.  However, if you maintain your account in good standing, as defined;
A) Making regular deposits sufficient to cover your transactions; B) Bringing your account to a positive balance - meaning not overdrawn for more than thirty days consecutively - and; C) No legal orders outstanding on your account, we will normally honor (pay) your overdrafts up to $300, including our normal Paid Overdrafts Fee(s).

Whether your overdrafts will be paid is discretionary and we reserve the right not to pay for example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts.  You will be notified by mail of any overdraft items paid or NSF(s) returned that you may have; however, we have no obligation to notify you before we pay or return any item.  The amount of any overdrafts plus our Paid Overdrafts Fees (NSF/OD) Charges(s) or NSF Returned Item Fee(s) that you owe us shall be due and payable upon demand.  If there is an overdraft paid by us on an account with more than one (1) owner on the signature card, each owner, and agent if applicable, drawing/presenting the item creating the overdraft, shall be jointly and severally liable for such overdrafts plus our Paid Overdrafts Fee(s) or NSF Returned Item Fee(s).

The overdraft limit may be removed from your account according to bank policy and procedures. 

Overdrawn accounts remaining in an overdraft status for 60 days may be charged-off and closed unless a re-payment arrangement has been approved and payments made as scheduled.

LIMITATIONS; Available only to consumer accounts for personal and household use (excluding Money Market accounts; customers with a loan account that has been charged off; or those accounts which an officer deems as otherwise not worthy of this privilege.  We may limit the number of accounts eligible for Overdraft Privilege to one account per household. Additionally, we reserve the right to not approve any overdrafts against your account until we can verify that your account is being maintained in good standing, as defined above.

Overdraft Privilege is automatically added to approved accounts upon opening.  Customers have the right to opt-out of the service at any time by signing on the reverse side of this disclosure.

ACCOUNT FEES:  Whether we pay or return a Overdraft item, a handling fee of $30.00 per-item will be charged to your account as a Paid Overdrafts Fee(s) or NSF Returned Item  Fee.  The fee(s) applies to overdrafts created by check(s), in person withdrawal(s), or other ACH items.  These fee(s) do NOT apply to ATM and/or debit card transactions.   


Merchants and Farmers Bank
Revised:   Sept, 2013                                                                                                                             See reverse to opt-out of service and other disclosure information.

Merchants and Farmers Bank

I,We ______________________________               ______________________________________
            (Customer’s Name)                                                                     (Joint Customer’s Name)

opt-out of the $300.00 Overdraft Privilege Service available on the following account(s):

Checking Account Number(s) ________________  __________________  ___________________


Customer Signature:_______________________________________________________________

  • Date:________________________


Bank Use Section:  Add Teller Alert #46 to account reflecting Opt-Out of OD Privilege

Employee:______________________________                      Date:____________________


Merchants and Farmers Bank also offers other alternative products i.e. of the overdraft privilege program.  Customers may link a checking account to another checking or savings account to provide for an automatic transfer of an amount sufficient to prevent an overdraft.  Customers must request and sign up for this type of overdraft protection service.

Customers may sign up for Free Online and Telephone Banking with transfer capability and/or may place message alerts to receive text and/or email messages pertaining to their accounts.

Customers may apply for credit services, which are subject to the customer’s credit worthiness.    

Check/Item Clearing on your account
The law permits us to pay items (checks, drafts, electronic items) drawn on your account in any order.  To assist you in handling your account with us, we are providing you with the following information regarding how we process the items that you write or authorize. 

When processing items drawn on your account, our policy is to pay them according to the types of items and the dollar amounts. 
a)  All items regardless of type coded with a “force pay” code are paid first; 
b)  ATM/Debit Card transactions pay second from smallest to largest; 
c)  Electronic ACH items pay third from smallest to the largest;  and
d)  Checks written by you pay last from smallest to the largest. 

If an item is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF).  The amounts of the overdraft and Paid Overdraft Fee(s) or NSF Returned Item fees are disclosed in a separate disclosure notice.  We encourage you to make careful records and practice good account management.  This will help you to avoid writing checks or authorizing drafts without sufficient funds and incurring the resulting fees.

OVERDRAFT PRIVILEGE Opt-Out  In order to Opt_Out, please fill out this form and return to bank.*

*You will need Adobe Acrobat Reader to print the form. If you do not have Adobe you can click here to download a free copy of it.



Merchants and Farmers is Proud to Offer Peace of Mind Banking!

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Merchants & Farmers Bank of Dumas

Privacy Policy US Patriot ActTerms of Use

Main Office
500 Hwy 65 South
PO Box 187
Dumas, AR 71639
tel (870) 382-4311
fax (870) 382-5901
Trust Dept. (870) 382-6074
Bookkeeping Dept. (870) 382-6071
E-mail: mfbdumas@mfbanknet.com
Bryant Loan Production Office
4500 Hwy 5 North / Suite 6
Bryant, AR 72022
tel (501) 847-4141
fax (501) 847-1208
E-mail: BryantOffice@mfbanknet.com
NOTICE: The bank is not responsible for and has no control over the subject matter, content, information or graphics of the web sites that have links here. Please contact us with any concerns or comments.

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