CheckOK Frequently Asked Questions

What is CheckOK?

CheckOK is overdraft protection using your savings account to guard your checking account against checks that bounce due to insufficient funds.

How do I sign up for CheckOK?

You can sign up for CheckOK by logging into Internet Banking and clicking on the Forms button. Then select the CheckOK form. You can also sign up by calling 800.848.2265 or visit a branch.

How do I cancel CheckOK?

You can cancel CheckOK by logging into Internet Banking and clicking on the Forms button. Then select the CheckOK form. You can also sign up by calling 800.848.2265 or visit a branch.

Who can use CheckOK?

Anyone with a Free Checking account or a Premier Checking account can use CheckOK by designating a savings account, money maker account or another checking account to cover overdrafts.

What is the Fee for CheckOK?

There is a charge of $5 per transfer to cover insufficient funds in your checking account. There are no monthly fees associated with this service. See the Fee Schedule for details.

What if I don't have enough money in my savings account?

If you do not have enough funds in your checking account and the savings account which is associated with your CheckOK to cover a check, the check will be returned for insufficient funds.

How much money will be advanced from my savings account?

CheckOK automatically advances the exact amount needed to cover any shortfall in your checking account up to the available savings account balance.

Can I sign up for CheckOK if I already have a Cash Reserve account?

You can only have one form of overdraft protection for your checking account. You may change from Cash Reserve to CheckOK service by bring your cash reserve balance down to zero. Then we will close your cash reserve and open the CheckOK service.

What happens to my Cash Reserve account if I sign up for CheckOK?

Your cash reserve account must be closed in order to use CheckOK.

Can I have both a cash reserve loan and CheckOK to cover my checking account?

No. You must choose one service or the other.

How can I change the savings account that this service draws on?

Use ESL Online Chat, call us at 800.848.2265 or visit a branch.

A check was returned for NSF and I have CheckOK, why didn't the transfer happen to cover the check?

This can be due to either not enough funds available in the savings or the savings account hit the Regulation D limit for the month.

What happens if my savings account does not have enough for the $5 fee?

We will overdraw your savings account for the fee.

Can I close my cash reserve with a balance and keep making payments on it?

No. You need to bring your cash reserve down to zero first. Once you do that, we can close out your cash reserve and start CheckOK for you.

Why did you send me a notice saying you disconnected CheckOK from my checking?

You changed the ownership of either your checking or savings account you had associated with CheckOK. For your safety, the two accounts linked must have the same owners.

I closed my cash reserve last month when I signed up for CheckOK, but I really want cash reserve protection. What do I do?

No problem, you simply need to apply for another cash reserve loan and cancel CheckOK using the form inside Internet Banking under the Forms tab.

When I do a check card purchase (pre-authorization), will it look to my savings account if I have CheckOK?

Yes, CheckOK will work for ATM withdrawals, check card purchases, ACH, and checks.