Overdraft Protection is a convenient service that protects you during those unexpected times when your checking account balance drops below zero. As long as you maintain a checking account in good standing, you'll enjoy peace of mind knowing your checking account is covered up to your available limit. If you use Overdraft Protection, an overdraft fee per item will be charged. * Individual account holders must be 18 years or older.
The Overdraft Transfer is tied to your savings account. Funds can be transferred in predetermined increments to cover a deficit balance in your checking account. Transfers are done in $10.00 increments and there is a charge of $15.00 per transfer.
What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft transfer plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
This notice explains our standard overdraft practices.
What are the standard overdraft practices that come with my personal use CNB account?
- We do authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
- We do not authorize and pay overdrafts for the following types of transactions unless you give us permission:
- ATM transactions
- Everyday debit card transactions
- We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.
- If we do not authorize and pay an overdraft, your transaction will be declined.
Your account may be closed if you fail to bring your account to a positive balance within 30 days.
What fees will I be charged if CNB Bank & Trust, N.A. pays my overdraft?
- Under our standard overdraft practices:
- We will charge you a fee of up to $30 each time we pay an overdraft.
- Also, if your account is overdrawn for three or more consecutive business days, we will charge an additional $5 per day.
- In addition, overdraft balances greater than $1,000 will be charged at $1.00 per $1,000 overdraft balance per day.
- There is a limit of 5 items per account per day on the total fees we can charge you for overdrawing your personal account. (Does not pertain to personal account items returned or to business accounts.)