Overdraft Privilege

Pinnacle’s overdraft privilege services improve operational efficiencies, enhance loyalty, preserve fee income, and comply with federal overdraft regulations. Our overdraft programs are fully automated, fully disclosed, and fully compliant. With a Pinnacle program, financial institutions can continue to provide a much wanted and needed service that is both right for your institution and right for the consumer.

  • 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. 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 always have them covered and they know exactly what the cost will be.

Fully Disclosed and Fully Compliant

Fully disclosed means that your personal and/or business accountholders 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 are 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 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 accountholders 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 (JHA) Integration

For community banks that utilize a Jack Henry core platform and credit unions that use the Symitar Episys® platform, Pinnacle can deliver a fully integrated solution for the implementation, tracking, and management of your Overdraft Privilege 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 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 begins and remains fully compliant.

Training to Fit Your Needs

Pinnacle’s Overdraft Privilege Training ensures that your employees understand your program’s features and operation, can fully explain the benefits of the service, and are equipped to answer accountholder questions. Our expert trainers help your employees gain this program knowledge and service skills that make your overdraft privilege program a success for your institution and your accountholders.

We offer our training in a variety of ways to meet your institution’s individual needs. Our training can be facilitated live onsite, remotely, or a combination of both. We also have a self-paced eLearning course that can be hosted and tracked on our LMS or yours. Contact us at training@pinnstrat.com to learn more.

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.

Back to Top