Type of Overdraft Protection SAVINGS OVERDRAFT PROTECTION PERSONAL EXPRESSLINE OF CREDIT OR HOME EQUITY LINE OF CREDIT OVERDRAFT PRIVILEGE
Description of Service Your Personal Savings or Exceptional Savings account balance is used to cover overdrafts. (Not all savings account types can be used for this service.) Your line of credit is used to cover overdrafts. Overdraft Privilege covers occasional, unintended overdraft.
How Does It Work? The exact amount of the overdraft plus the Savings Overdraft Protection Transfer Fee will be transferred from your linked savings account to your checking account.

  • Covers overdrafts caused by checks, in-person withdrawals, electronic funds transfer (ACH) transactions (such as preauthorized automatic transfers), online bill payments, online banking or telephone banking transfers to your other CPB accounts, and debit card and ATM transactions.
     
  • Covers overdrafts caused by account fees, such as overdraft fees, return item fees, and monthly service charges.
Funds are advanced from your line of credit and transferred automatically to your checking account in increments specified in your line of credit agreement.

  • Covers overdrafts caused by checks, in-person withdrawals, electronic funds transfer (ACH) transactions (such as preauthorized automatic transfers), online bill payments, debit card and ATM transactions.
     
  • Covers overdrafts caused by account fees, such as overdraft fees, return item fees, and monthly service charges.
When you don’t have enough available balance in your checking account to pay for transactions, we will allow you to overdraw your checking account up to $500. We will charge you an overdraft fee for each item we pay, which will increase the negative balance in your account.

  • We will use Overdraft Privilege to pay checks you have written, in-person withdrawals, electronic funds transfer (ACH) transactions (such as preauthorized automatic transfers), and online bill payments.
     
  • We will also use Overdraft Privilege to pay for fees, such as overdraft fees, and other bank charges that may be deducted from your account.
When Are Overdrafts Not Paid? Generally, Savings Overdraft Protection will not cover an overdraft if the overdraft amount would cause your savings account to have an available balance of less than $1 after the transfer is made.

If the available balance of the savings account is less than the overdraft, we may either pay the overdraft at our discretion, causing your checking account to be overdrawn, or return the item unpaid.
Generally, line of credit overdraft protection will not cover an overdraft if the advance amount would exceed the available credit.

Line of credit overdraft protection will not cover transfers made from your checking account to other accounts you have with us that you request using our telephone or online banking services.

If the advance amount is not enough to cover the overdraft, we may either pay the overdraft at our discretion, causing your checking account to be overdrawn, or return the item unpaid. 
We have the right not to pay any or all items that will overdraw your account. We will use our discretion to decide which items, if any, are paid.

Generally, we do not pay items if your account is already overdrawn more than $500 or if the items presented for payment will cause your account to become overdrawn more than $500.

Overdraft Privilege will not cover ATM and everyday debit card transactions unless you separately authorize us to include such transactions.

Overdraft Privilege will not cover transfers made from your checking account to other accounts you have with us that you request using our telephone or online banking services.
How Much Protection Can I Get? The amount of your available savings account balance minus $1. (Your savings account must have a balance of at least $1 after the transfer is made.) Up to the credit line amount that will be determined by your creditworthiness. $500
Are There Any Fees? We charge a $10 Savings Overdraft Protection transfer fee. This fee (charged to the checking account) will only be charged once on any day on which a transfer is made. The amount of the fee is included in the amount transferred from the savings to the checking account.

If the available balance in your savings account is not enough to cover an overdraft, we may pay the overdraft at our discretion, causing your checking account to be overdrawn, or return the item unpaid. The applicable $30 overdraft fee or return item fee will be charged to your checking account.
We charge $15 annual fee for overdraft protection using a Personal ExpressLine of Credit. (Annual fee is waived for Exceptional Checking or Exceptional Choice Checking.) There is no fee for each transfer.

No annual fee for overdraft protection through a Home Equity Line of Credit. There is no fee for each transfer.

Interest charges and other fees related to the line of credit may apply.

If your available credit is not enough to cover an overdraft, we may pay the overdraft at our discretion, causing your checking account to be overdrawn, or return the item unpaid. The applicable $30 overdraft fee or return item fee will be charged to your checking account.
A $30 overdraft fee will be charged for each item that is paid by this service when you do not have enough money in your account. If we return any items unpaid, we will charge a $30 return item fee for each item.

Your account will be charged no more than $90 each day for overdraft and return item fees combined.

If, on any day, your account is overdrawn $5.00 or less after we have processed all transactions we received for payment from your account, you will not be charged an ovedraft fee for the item(s) that overdrew your account.
What Else Should I Know About the Service? Savings transfers are limited by law to six preauthorized and other specific types of transfers during each monthly statement period. Each overdraft protection transfer is counted towards this limit. Your savings account will be charged $10 for each transaction that exceeds the six transfer limit and we may close your savings account because of these excessive transfers.

If your savings account has a minimum balance requirement, overdraft protection transfers may cause your balance to fall below the minimum balance, resulting in a monthly service charge to the savings account for that statement period.
 
The amount advanced from your line of credit will be rounded up to the nearest increment that is specified in your line of credit agreement.

For Personal ExpressLine of Credit, the advance would be in $100 increments; for Home Equity Line of Credit, the advance would be in $250 increments.

For example, an overdraft of $175 would result in an advance from a Personal ExpressLine of Credit of $200 being transferred to your checking account.

You will be charged interest on the full amount of the advance.
You could pay as much as $90 each day in overdraft fees using this service. Among our Overdraft Protection Options, this program can be the most costly.

You may choose to cancel the Overdraft Privilege service at any time.

If you do not deposit enough money to make your account balance positive within 30 days, Overdraft Privilege will be removed from your account.

If your account balance is still negative 45 days after your account becomes overdrawn, your account will be closed, and we may report negative information about your account to a consumer-reporting agency, and refer your account to a collection agency.
Do I Have to Apply? To set up this service, simply sign an agreement and tell us your CPB savings account number to link. Yes, subject to credit application and approval. No. We will offer Overdraft Privilege, at our discretion, to customers whose checking accounts have been open for at least 30 days and meet transaction requirements that we establish. These requirements may change from time to time at our discretion.