| It's a Privilege For Our Checking Account
Customers |
| Unanticipated expenses or mathematical errors can leave
your checking account short of cash. In addition, having a
check returned due to insufficient funds is terribly embarrassing.
We have created Overdraft Reserve as a special privilege
specifically for Central Bank checking account customers
whose accounts are in good standing. There is absolutely
no charge for this service unless you use it.
Without your authorization, Overdraft Reserve may not
cover all types of transactions. Please ask a Personal Bank
about how to make sure all your transactions are covered
by this valuable service.
|
| |
| How Does it Work? |
|
As long as you maintain your Central Bank checking account
in good standing, we may honor your overdrafts up to the
limit assigned. If you use Overdraft Reserve, the Bank will
deduct its normal overdraft charge of $25.00 per item. We
will notify you via mail when an overdraft occurs. The notice
will reflect the sum paid, as well as the bank's charge
for the overdraft item(s). It is important to subtract the
fees from the balance in your checkbook.
|
| |
| Going Over Your Overdraft Reserve Limit |
| Should you write checks that put you over your Overdraft
Reserve limit, the Bank may return the check or checks to
the payee(s). In addition, the normal insufficient fee of
$25.00 per item will be charged to your account. An insufficient
funds notice will be mailed to you. |
| |
| If Your Checks Are Returned |
|
If you do not use Overdraft Reserve or another form of
overdraft protection on your deposit accounts, you may fall
victim to the following:
- The merchant may charge you a fee when your check is
returned unpaid and may be unwilling to accept checks
from you in the future.
- The person who accepted your check as payment may be
charged a fee by his/her bank where he/she deposits it.
- Your credit rating may be adversely affected.
|
| |
| Overdraft Reserve Covers ATM and Debit
Cards |
|
Your Overdraft Reserve privilege may extend
to transactions made at an ATM or with your Debit Card.
In the case of an ATM, the balance shown on your receipt
will reflect your actual balance, not including your Overdraft
Reserve limit. Other transactions which may be honored under
the Overdraft Reserve privilege include:
- Checks and other debits cashed at teller windows
- Debit Card purchases
- ACH debit transactions (automatic payments)
- Checks issued to a third party
|
| |
| Overdraft Reserve Covers All Existing
Eligible Personal Accounts |
- Overdraft Reserve privileges may be granted on all checking
accounts in good standing.
- Overdraft Reserve does not apply to commercial checking
accounts
|
| |
| Repaying Overdrafts and Fees |
| You will be required to bring your checking account into
a positive balance within 15 calendar days of your overdraft.
After 15 days, if your account remains in a negative position,
we may close your account and take appropriate steps to recover
funds advanced to cover your overdrafts, as well as the Bank's
fees. |
| |
| Overdraft Reserve Is In Force Today |
|
Overdraft Reserve privileges may start the moment you open
your personal checking account.
|
Overdraft Reserve Limits
To Determine your Overdraft Reserve limits, refer
to the chart below:
Regular Checking - $500
Interest Checking - $750
Call BANKLINE
24/7 - Your Account Information by
Phone Anytime.
The balance reflected through our free telephone
information service will include both current and
available balance.
You may call (712) 732-2190 or toll free (866) 732-2191,
anytime day or night, 365 days a year.
If you have questions regarding your newly created
Overdraft Reserve privilege, don't hesitate to see
a Customer Service Representative at the branch most
convenient to you.
|
|
| |
| Overdraft Reserve - Customer Overdraft
Policy |
| An insufficient balance could result in several ways, such
as: a) the payment of checks, in-person withdrawals, or ATM
withdrawals and other electronic withdrawals; b) payments
authorized by you; c) the return of unpaid items deposited
by you; d) the assessment of bank service charges; or e) the
deposit of items which, according to the banks Funds
Availability Policy, are treated as not yet available or finally
paid. We are not obligated to pay any item presented for payment
if your account does not contain sufficient funds. Rather
than automatically returning, unpaid, any non-sufficient funds
items that you have, if your eligible account is in good standing,
which includes at least: a) you are not in default on any
loan obligation to Central Bank, b) you bring your account
to a positive balance (not overdrawn) at least once every
fifteen (15) calendar days, and c) your account is not the
subject of any legal or administrative order or levy, we will
consider as a discretionary courtesy or service and
not a right of yours nor an obligation on our part
approving your reasonable overdrafts. Normally, we will not
approve an overdraft for you in excess of your limit including
any overdraft charge(s). We may refuse to pay an overdraft
for you at any time, even though we may have previously paid
overdrafts for you. You will be notified by mail of any non-sufficient
funds items paid or returned that you have; however, we have
no obligation to notify you before we pay or return any item.
The amount of any overdraft plus our overdraft or return item
charge(s) of $25.00 per item that you owe us shall be due
and payable upon demand. If there is an overdraft paid by
us on an account with more than one (1) owner on the signature
card, each owner, and agent if applicable, drawing/creating
the item creating the overdraft, shall be jointly and severally
liable for such overdraft, plus our overdraft or return item
charge(s) of $25.00 per item. You may be able to access your
Overdraft Reserve limit through a teller, ACH, check or automatic
payment. In addition, if you sign the Opt-in authorization,
you may be able to access your Overdraft Reserve limit through
an ATM or debit card transaction. As an alternative, you may
initiate an automatic transfer authorization to have funds
transferred from another account at Central Bank to cover
an overdraft. The fee for this service is $5.00 per transfer.
LIMITATIONS: Available to accounts in good standing for
personal or household use. If the Overdraft Reserve service
is suspended on three occasions in a 12-month period, the
Overdraft Reserve service will be revoked for a period of
at least six months. The fees charged for the items paid
into overdraft or returned, as well as the amount of the
overdraft item(s), will be subtracted from the disclosed
overdraft protection dollar limit. The order in which transactions
are received and processed can affect the total amount of
overdraft fees incurred by a customer. Central Bank reserves
the right to limit participation to one account per customer
and to discontinue this product at any time without prior
notice. Please advise a Customer Service Representative
if you do not wish to have this service available on your
account.
|
| |
| |