First State Bank of Colorado offers Overdraft Protection (ODP) accounts to qualifying applicants to help insure against the possible negative consequences of overdrawn consumer deposit accounts.

An ODP account is a consumer line of credit that is linked to a specific consumer checking account. One line may not be linked to more than one checking account; however, multiple ODP accounts may be established to cover multiple checking accounts. 

Only consumer checking accounts may be linked to an ODP account.  An ODP application must be completed and approved prior to coverage being instituted.  The applicant may request a specific coverage limit (up to $2,500) at the time of application. The Bank will assign a credit limit based on the results of a credit evaluation.

ODP accounts carry a nominal annual fee, but no application fee.  Funds to cover overdrafts are automatically transferred from the ODP account to the covered checking account, as needed, in increments of $100.  ODP accounts carrying an outstanding balance will be billed monthly on an automatic basis using the following criteria:  Balances of less than $25 will be billed in full.  Balances of between $25 and $500 will be billed $25 per month.  Balances over $500 will be billed monthly 5% of the balance owing on such account.  An interest rate established at the time of your application will be applied to all outstanding balances.

For an Overdraft Account application, applicable disclosures and more detailed information, please inquire of your banker.