Overdraft Opt In / Opt Out
Currently and up until August 15th Community Bank & Trust is allowed to Approve and Pay overdrafts for you at our ATMs or for Point of Sale purchases. Starting August 15th, you would be required to Opt in to continue this service. If you choose not to Opt in, you will no longer be able to have these debits approved if an overdraft situation occurred.
You can opt in or opt out using our secure Online form:
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 overdraft in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection 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.
Standard Overdraft Practices
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 ask us to (see below):
- 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.
Fee Charged if Community Bank & Trust Pays and Overdraft
Under our standard overdraft practices:
- We will charge you a fee of $35.00 for each item per day
- There will be no overdraft charge for items that are paid that bring the account to a negative balance of less then $10.00. If the account is brought to a negative balance of $10.00 or more there will be a charge of $35.00 per item paid or returned, with a cap of no more then $245.00 per day in overdraft/insufficient funds (NSF) charges.
Frequently Asked Questions
You can opt in or opt out using our secure Online form:
