Periodic Review of Accounts for Overdraft Privilege

To run a successful Overdraft Privilege program, at least 90% of eligible checking accounts should have an OD Limit. Strunk recommends that institutions periodically review accounts not currently in the ODP program to determine if the accounts now qualify for Overdraft Privilege. Performing this review at least quarterly (or more frequently if able) will help to maintain higher participation in ODP.

The Status Tracking report in ODP Manager includes all open accounts in status codes that indicate the account does not currently have an OD Limit assigned. The ODP Status Code indicates the reason that the account did not qualify for ODP. Users should review the Status Tracking Report by ODP Status Code to determine if any of the accounts now qualify for ODP, or if not, to verify or update the reason the account does not qualify. Reviewing the accounts grouped by ODP Status Code allows a more efficient process and allows users to review certain status codes more frequently if needed.

The ODP Requalification group on the report shows accounts that are no longer overdrawn and have a certain level of deposits in the last 30 days. These accounts likely will requalify for ODP unless the account has other circumstances that prevent it from being in good standing.

When an account meets the qualifying characteristics and is assigned an OD Limit, ODP Manager will show the accounts as due for a Welcome letter or Reinstatement letter.

If you have any questions about ODP Manager’s Status Tracking report, please contact Strunk Support at support@strunkaccess.com for more details.