Changes to Overdraft Coverage Service

A new federal banking regulation will impact how all banks handle insufficent funds relative to ATM and one-time debit card transactions.


Banks currently may approve/authorize transactions and pay checks as a convenience to clients even if the items in question are more than the available balance a client has at the time. If items are paid, the bank may charge a fee.


This practice is referred to as overdraft coverage by the Federal Reserve (the government entity responsible for these new regulations).


You must take action to continue overdraft coverage which is generally available on all GrandSouth personal checking accounts.


It only takes a minute or two to preserve the peace of mind that everdraft coverage can provide.


By choosing to continue overdrft coverage, you are giving GrandSouth permission to pay ATM and everyday debit card transactions in excess of your available balances. If paid, a fee of $30 may be assessed.


To continue standard overdraft coverage service for everyday debit and ATM transactions, you must request to continue service on your account.


You can do this by completing the online form, calling 864-770-1000, emailing us at, or visiting your local branch.


There is no charge for adding overdraft coverage to your account.


If you do not want GrandSouth to provide this coverage, there is no action required. However, GrandSouth will no longer be able to cover any ATM or everyday debit card transactions that result in an overdraft to your account.

Overdraft Coverage Form 

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