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Overdraft Protection Program
We will consider without obligation on our part, payment of reasonable overdrafts in personal Checking and NOW Accounts of up to $400 after first deducting overdraft fees as long as: 1) Account has been open for at least 90 days, 2) Customer made $800 in deposits in the prior month or had direct deposit of at least $400, 3) Customer is otherwise in good standing.
Payment of overdrafts on all other cases is determined on a case-by-case basis.
Since payment of overdrafts is discretionary, Cissna Park State Bank in its sole and absolute discretion reserves the right not to pay overdrafts at any time without prior notice or cause.
For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts. Any courtesy payment by Cissna Park State Bank of any overdraft that does not meet the overdraft protection program does not obligate Cissna Park State Bank to pay any additional overdrafts, or to provide prior notice of its decision to not pay any additional overdrafts.
Our overdraft fee is $20 per item. This is the same fee or less than we charge for NSF items returned to the payee. The maximum charge is $60 per day. We do not charge if the total account overdraft is less than $10. When more than one item is presented for payment, we generally pay the items in check number order. NSF items may be paid and fees may be imposed for checks, in person withdrawals, preauthorized automatic debits, ATM withdrawals, debit card transactions, telephone initiated transfers, or by other electronic means.
You will be notified by mail of any NSF items paid or returned; however, we have no obligation to notify you before we pay or return any item. We recommend that you immediately make a deposit to correct the overdraft as the amount of any overdraft plus our NSF and/or overdraft charges are due and payable immediately.
Checking and NOW Accounts remain subject to their individual Terms and Conditions, which are not modified by this policy. A copy of the Terms and Conditions of accounts contained in the booklet, “Truth in Savings,” are available upon request.
In addition, Cissna Park State Bank offers other products such as Home Equity Lines of Credit, short-term loans and automated account transfers that may be less costly than overdraft fees. Stop in, and we would be happy to discuss other products that we offer for your particular needs.If you do not want this service, give us a call at 815-457-2111.
