Overdraft Protection

Overdraft Coverage Options:
Overdraft Privilege and Overdraft Protection 

Life happens! Citizens Bank understands that unexpected overdrafts occur from time to time – Overdraft Coverage can help.

Overdraft Coverage Options

The choice is yours. Consider these ways to cover overdrafts: 

Service	Cost
Overdraft Protection Link to Another Deposit Account you have at Citizens Bank1	$0 fee per transfer. A one-time set up fee of $20 applies
Line of Credit1, 2	Subject to fees + interest.  $0 fee per transfer. A one-time set up fee of $20 applies.
Overdraft Privilege	$35.00 Overdraft Fee per item.

¹Call us at (615) 374-2265 or come by a branch to sign up or apply for these services; ²subject to credit approval.

Overdraft Protection services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another deposit account or line of credit you may have at Citizens Bank for a fee or finance charge. Please note that lines of credit are subject to credit approval.

Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Even if you have overdraft protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Please review the “What Else You Should Know” section included with this letter for other important information.

Transactions Covered with Overdraft Privilege	Standard Coverage (No action required)	Extended Coverage (Your consent required) *
Checks	X	X
ACH - Automatic Debits	X	X
Recurring Debit Card Payments	X	X
Online Bill Pay Items	X	X
Internet Banking Transfers	X	X
Telephone Banking	X	X
Teller Window Transactions	X	X
ATM Withdrawals		X*
Everyday Debit Card Transactions		X*

If you would like to select Extended Coverage for future transactions, please do one of the following:

• Call us at (615) 374-2265
• Access and download the online consent form, complete the form, and bring it to any of our branch locations
• Visit any branch
• Complete the enclosed consent form and mail it to us at 100 McMurry BLVD Hartsville, TN 37074
• E-mail us at [email protected] 

Download Consent Form

*If you choose Extended Coverage on your consumer account, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Extended Overdraft Privilege coverage, it is not necessary to request it again. Business accounts automatically have Extended Coverage.

You can discontinue the Overdraft Privilege in its entirety by contacting us at (615) 374-2265 or sending us an e-mail at [email protected]. 

What Else You Should Know

• A link to another account or a line of credit may be a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts.  Use our mobile banking, internet banking, and telephone banking services to keep track of your balance. For additional financial education resources, please visit mymoney.gov/.
• The $35.00 Overdraft Fee that is charged if you overdraw your account is the same fee amount that is charged if an item is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft Fee or a Return Item Fee of $35.00. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn more than the Overdraft Privilege limit amount because of a fee.
• If an item is returned because the available balance in your account is not sufficient to cover the item and the item is presented for payment again, Citizens Bank will charge a Return Item Fee each time it returns the item because it exceeds the available balance in your account. If, on representment of the item, the available balance in your account is sufficient to cover the item Citizens Bank may pay the item, and, if payment causes an overdraft, charge an Overdraft Fee.
• For consumer accounts, we will charge you a fee of $35.00 each time we pay an overdraft if the item presented causes the account to be overdrawn $10 or more. We will charge you a fee of $10.00 each time we pay an overdraft if the item presented causes the account to be overdrawn less than $10.  There is  a limit of $210.00 Overdraft Fees  per day that we will charge for overdrawing your account. These exceptions do not apply to business accounts.
• This describes the posting order for purposes of determining overdrafts. Our general policy is to post items throughout the day and to post credits before debits. We generally process items according to dollar amounts with the smallest items being processed first unless otherwise stated, starting first with automatic debit items, second bank cash withdrawals, third ATM withdrawals, fourth Internet and telephone transfers, fifth Wire transfers, sixth are debit card/POS (point of sale) transactions, seventh ACH items, eighth paper checks are posted in numerical order, ninth fees and other misc. items smallest items being processed first. However, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies. Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of Overdraft Fees or Return Item Fees assessed.
• Although under payment system rules, Citizens Bank may be obligated to pay some unauthorized debit card transactions, Citizens Bank will not authorize debit card or ATM transactions unless your account’s available balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any fee(s).
• Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring Overdraft Fees for transactions that we would otherwise be required to pay without assessing an Overdraft Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may also help you avoid overdrafts in excess of your available balance that could result in suspension of your debit card. If you consent to Extended Coverage on your consumer account, it will remain on your account until it is otherwise withdrawn, or your Overdraft Privilege limit is suspended.
• Citizens Bank authorizes and pays transactions using the available balance in your account. Citizens Bank may place a hold on deposited funds in accordance with our Funds Availability Policy, which will reduce the amount in your available balance. The available balance for checks, ACH items, and recurring debit card transactions is comprised of the ledger balance, less any holds on deposited funds and any debit card holds, plus the amount of the Overdraft Privilege limit and any available Overdraft Protection. The available balance for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance, less any holds on deposited funds and any debit card holds, plus any available Overdraft Protection, but does NOT include the Overdraft Privilege Limit. For accounts with Extended Coverage, the Overdraft Privilege Limit is included in the available balance for authorizing ATM and everyday debit card transactions.
• Please be aware that the Overdraft Privilege amount is not included in your available balance provided through online banking, mobile banking or Citizens Bank’s ATMs.
• Citizens Bank will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules.  In some cases, the hold may exceed the amount of the transaction.  When the hold ends, the funds will be added to the available balance in your account.  If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Overdraft Fee may be assessed.
• Except as described herein, Citizens Bank  may not pay items if the available balance in your account (including the Overdraft Privilege limit, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).
• Citizens Bank may suspend your debit card if you incur overdrafts in excess of the available balance in your account, including any Overdraft Privilege limit (as described herein). Debit cards on your account will remain suspended until you make sufficient deposits so that your available balance, taking into account any Overdraft Privilege limit, is positive.
• Citizens Bank may also suspend your debit card if your account is overdrawn more than 32 consecutive calendar days. Debit cards on your account will remain suspended until you make sufficient deposits so that your account balance is positive.
• Citizens Bank may also suspend your debit card if we are unable to contact you due to an incorrect mailing address or phone number(s). You must contact us with your correct mailing address and/or phone number(s) to have your debit card reinstated.
• If your debit card is suspended, you will be unable to use your debit card(s) for purchases or to access your account(s) associated with the debit card(s) at the ATM while your debit card is suspended.  If you use your debit card for recurring payments, e.g., utilities, you are responsible to make other arrangements for your recurring debit payment(s).
• An Overdraft Privilege limit of $500 will be granted to eligible consumer checking accounts opened at least 35 days in good standing.
• An Overdraft Privilege limit of  $700 will be granted to eligible Business Checking accounts opened at least 60 days in good standing.
• Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
• Overdraft Privilege may be suspended if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within 32 days for a minimum of one business day. You must bring your account balance positive for at least one business day to have the Overdraft Privilege limit reinstated.
• Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Terms and Conditions of Your Account Agreement. The total (negative) balance, including all fees and charges, is due and payable upon demand.

If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at (615) 374-2265 or visit a branch.