Overdraft Privilege

Life happens! Community National Bank understands that unexpected overdrafts occur from time to time – Overdraft Privilege can help

OVERDRAFT PRIVILEGE

ServiceCost     
Overdraft Privilege                           $30 Paid NSF Check Fee per item

1Call us at (785) 336-6143, email us at ODP@communitynationalbank.net, or come by a branch to sign up.

Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Please review the “What Else You Should Know” section included with this disclosure for other important information.

Transactions Covered with Overdraft Privilege

Standard Coverage 
(No Action Required)

Extended Coverage
(Your consent required on consumer accounts) *

Checks

 X

X

ACH - Automatic Debits

 X

X

Recurring Debit Card Transactions

 X

X

Online Bill Pay Items

X

X

Internet Banking Transfers

 X

X

Teller Window Transactions

 X

X

 ATM Transactions

 

X*

Everyday Debit Card Transactions

 

X*

If you would like to select Extended Coverage for future transactions:

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

You can discontinue Overdraft Privilege in its entirety by contacting us at (785) 336-6143 or sending us an e-mail at ODP@communitynationalbank.net.

What Else You Should Know

  • Good account management is the best way to avoid overdrafts. Use our mobile banking and our internet banking services to keep track of your balance. For additional financial education resources, please visit www.mymoney.gov.
  • The $30 Paid NSF Check Fee that is charged if you overdraw your account more than $10 is the same fee amount that is charged if a check or item is returned as unpaid. If your consumer account is overdrawn by $10 or less, the Paid NSF Check Fee or Returned NSF Check Fee is $5. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Paid NSF Check Fee or a Returned NSF Check Fee of $30. 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, Community National Bank will charge a Returned NSF Check 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 Community National Bank may pay the item, and, if payment causes an overdraft, charge a Paid NSF Check Fee.
  • For consumer accounts, there is a limit of 4 Paid NSF Check Fees or Returned NSF Check Fees ($120) per day we will charge. 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. Paper checks are posted lowest to highest dollar amount, while ATM, ACH, and debit card transactions are posted by lowest to highest amount in transaction code order; 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 Paid NSF Check Fees or Returned NSF Check Fees assessed.
  • Although under payment system rules, Community National Bank may be obligated to pay some unauthorized debit card transactions, Community National 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 Paid NSF Check Fees for transactions that we would otherwise be required to pay without assessing a Paid NSF Check 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.
  • Community National Bank authorizes and pays transactions using the available balance in your account. Community National Bank may place a hold on deposited funds in accordance with our Deposit Account Agreement and Disclosure, which will reduce the amount of 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. 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, 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 Community National Bank’s ATMs.
  • Community National 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, a Paid NSF Check Fee may be assessed.
  • Except as described herein, Community National Bank will 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).
  • Community National 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 and then you contact us.
  • Community National 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.
  • Community National 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.
  • We may charge a fee of $5 to reactivate your debit card if we suspend your debit card.
  • 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).
  • New consumer and business checking accounts will receive a $100 Introductory Overdraft Privilege limit at account opening that will be increased to $600 after 30 days in good standing for consumer accounts or to $750 after 60 days in good standing for business accounts.
  • 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 reduced 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 full 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 Account Agreement and the Terms and Conditions of your account. The total (negative) balance, including all fees and charges, is due and payable upon demand.

If you have any questions about Overdraft Privilege, please call us at (785) 336-6143 or visit a branch.

 

 

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