Overdraft Privilege

What is Overdraft Privilege at CSB?

CSB Overdraft Privilege is an overdraft service that is automatically assigned to your account. Rather than the possibility of returning unpaid insufficient fund items, we will consider payment of your reasonable overdrafts up to your assigned limit. You should not consider your Overdraft Privilege as a line of credit or as a regular source of funds. It is an account service for which you will be charged our standard $30.00 nonsufficient funds fee per item.

How Do I Get This Special Service?

We require no action on your part and no signature is required. It is already a part of your checking account agreement. As long as you maintain your checking account in good standing, you will be granted this service after your account has been opened for 60 days.

Which Accounts Are Eligible for Overdraft Privilege?

How Much Does Overdraft Privilege Cost?

If your account does become overdrawn, you will be charged our standard nonsufficient funds fee of $30.00 for each item presented against a nonsufficient funds balance in your checking account. This could result in multiple fees. These fees will be charged to your account and will be considered part of your Overdraft Privilege limit.

If you are unsure of the type of checking account you have at CSB, please refer to your checking account statement. It will list the type of account you have with CSB. You may also call us and we will be happy to assist you.

Will You Notify Me When I Use the Overdraft Privilege Service?

Yes, you will receive an overdraft notice listing the items that have been paid. You will also see the total of your nonsufficient funds fees, which you should deduct from your account.

What Happens If I Go Over My Overdraft Privilege Limit?

Any items presented that cause you to go over your Overdraft Privilege limit may result in the item being returned to the payee. You will also be charged our normal fee of $30.00 for each item presented against a nonsufficient funds balance in your checking account.

How Do I Access My Overdraft Privilege?

Continue to handle your checking account in the same manner you always have. You have access to your Overdraft Privilege Service on your checking account in all the normal ways. You may write a check, make an ATM withdrawal, use your debit card to make purchases, transfer through Xpress Phone and Xpress Net Banking or through other means of electronic payment.

If I Use Overdraft Privilege, How Do I Repay?

To repay your Overdraft Privilege, simply make the necessary deposit(s) to your checking account to bring your account to a positive balance. We reserve the right to require you to pay your outstanding overdraft (negative) balance, including our fees, immediately or on demand. If you are not able to do so, you will receive a letter from CSB informing you of the situation and your options. If, after a period of time, your account has not been brought to a positive balance, we may suspend your overdraft privilege limit and take other steps to recover funds.

As a New Account Owner, How Soon Will I Be Granted Overdraft Privilege?

For new accounts, you may be granted Overdraft Privilege after your account has been opened and in good standing for at least 60 days.

How Do I Cancel This Service?

You may choose at any time not to participate in the Overdraft Privilege Service. Simply notify one of our Account Relationship Specialists at any CSB Banking Center and they will assist you in signing the “opt out” form. You will find phone numbers for each CSB Banking Center listed on our website under Locations.

Please understand by canceling your Overdraft Privilege Service, we may return any item presented that causes an overdraft to your account. You will also be charged our standard nonsufficient funds fee of $30.00 per item.

The features, costs, and restrictions of our Overdraft Privilege Service are more fully described in the Overdraft Privilege Service Policy on the back of this brochure. We encourage you to take a few minutes to read this policy, as well as the alternative overdraft protection services outlined in the brochure.