Navigation:  Institution Options Screen > GOLD ExceptionManager Tab > Deposits Tab > Negative Options field group > De-Minimis Amount for Negative Fee

Entry: User, numeric, 3 digit

F/M: Yes

Mnemonic: OIDMIN

 

Institution Option: DMIN

 

This option is only used on personal accounts.

 

This field indicates the de-minimis overdraft amount based on account balance. This option will be used on ATM/debit, checks, and ACH transactions and can be used to help you comply with the FDIC Best Practices for Regulation E. Your institution should institute daily limits on overdraft fees and consider eliminating overdraft fees for transactions that overdraw an account by a de-minimis amount.
 
Example: An ATM transaction for $5.00 is presented to your bank for a customer that has a $4.50 balance with 50 cents available in their negative limit. If the institution option was set to $.75, the transaction will post to the customer’s account without the negative charge. A transaction for $5.26 or more will be accepted, based on the negative limit; and, if funds are available, the fee and transaction will be processed because it is 1 cent over $.75. Subsequent transactions will use the same calculation by using the de-minimis amount for the difference in the balance and the negative amount used for each transaction.