Overdraft Product

Overdraft Product

Cross Keys Bank offers three overdraft solutions to assist you in managing your account while allowing you to control your cost. Paying attention to your financial needs is our top priority.

Overdraft Information

To prevent overdraft fees, we recommend that you maintain all account activity in a check register and routinely reconcile your account to the balance reported by the bank. Using our automated telephone information system, Online Banking, and Online Banking Alerts to monitor your account balance and account activity can assist you in managing your account. As an example, Online Banking Alerts can be set to email you when your balance drops below an amount you set.

The best way to avoid overdrafts and fees is to keep track of your account balance by entering all items in your check register, reconcile your checkbook regularly and manage your finances responsibly. However, if a mistake occurs, Cross Keys Bank offers the following alternatives to cover overdrafts.

Overdraft Transfer Protection:

This product allows you to protect your account against overdraft and insufficient item fees by transferring funds from another account when needed. By creating a link between your primary checking account to a secondary checking or savings account with our bank, any presented items that would cause an overdraft in the primary account will be paid by available funds that are automatically transferred from the secondary account. Regardless of the number of insufficient items only one transfer fee will be assessed per day. (See our schedule of fees) Certain account types have transaction limitations; please speak to a Customer Service Representative to determine whether transaction limitations apply.

Overdraft Line of Credit:

Upon credit approval you could qualify for a revolving Overdraft Line of Credit, that would be tied to your checking account and protect you against overdraft and insufficient funds fees. Any presented items that would cause an overdraft in the account will be paid by funds that are transferred from the line of credit (up to the available limit.) This Line of Credit is a loan that you pay back with interest. Please see a loan officer or branch manager to apply or for more information about this product.

Standard Overdraft Services (Overdraft Privilege):

When you do not have enough available funds in your account to cover an item, subject to the bank's sole discretion, we may allow you to overdraw your account. In order to receive this service you must affirmatively "opt-in" to authorize us to consider for payment into the overdraft your ATM and one time debit card transactions, (these transactions are also sometimes referred to as "everyday" debit card transactions), and/or check, ACH, and other transaction types. To "opt-in" to our Standard Overdraft Service, speak to a customer service representative or call us at 888-766-3246. You may revoke your "opt-in" at any time.

In order for an account to be eligible for Standard Overdraft Services it must meet the following criteria:

  • The account has been open for at least 30 days
  • The account is in good standing
  • Regular deposits have been made
  • If the account has been overdrawn previously, it has been regularly restored to a positive balance
  • The primary account holder is at least 18 years of age

The bank reserves the right to suspend Standard Overdraft Services from any account if, in the bank's judgment, the likelihood that an overdraft will not be repaid exists. The following are examples of situations where the bank would suspend the service; the account remains overdrawn 31 days or more, has excessive overdraft activity or excessive fees, or if the account is subject to any legal or administrative order or levy.

We offer this service as a courtesy in anticipation that you will be making a deposit soon to bring your account to a positive balance. We are under no obligation to pay items when your account has insufficient funds, even if previous transactions were paid.

Fees: One insufficient (NSF) charge of $31.00 is charged to your account for each transaction item that is returned unpaid. One overdraft (OD) charge of $31.00 is charged to your account for each overdraft transaction item that is paid. To discourage long term overdrafts, after the 7th day of a continuous overdraft you will be charged a $4.00 Continuous Overdraft Charge for each day the account remains overdrawn.

Items Included: If you have "opted-in" for Standard Overdraft Service on checks, ACH, and recurring bills, we will consider for authorization and payment overdrafts for the following types of transactions: in-branch withdrawals, checks, transfers, recurring debit card transactions, automatic bill payments and other transactions made using your checking account number. If you have also "opted-in" for Standard Overdraft Service on ATM and everyday debit card transactions, we will also consider for authorization and payment overdrafts for the following types of transactions: ATM and everyday debit card transactions.

Opting Out: If you decide you no longer want this service, you can request to "opt out" of our Standard Overdraft Services at any time by visiting one of our branches, or by calling us at 888- 766-3246. If you choose not to participate in our Standard Overdraft Services be aware that all items presented against insufficient funds on your account, besides those that we are legally obligated to pay, may be returned or denied whenever possible, regardless of the type of transaction (preauthorized debits, ATM withdrawals, transfers, point of sale (POS), in-branch withdrawals, and checks.)

Overdraft Limits: Accounts meeting the criteria stated above and maintaining a positive balance for 30 consecutive days will be assigned a $250 limit. (All stated overdraft limit amounts are inclusive of fees.) Note: Cross Keys Bank reserves the right to limit this service to one account per customer.

Order of Payment: We may determine in our discretion the order that we process and post credits, debits and holds to your account. The order in which transactions are paid can affect the total amount of overdraft fees incurred.

Reinstatement: Once you have been suspended from our Standard Overdraft Services, you can be considered for reinstatement if you maintain your account in good standing with no insufficient account activity for 60 consecutive days, and request to be reinstated at a branch location or by calling us at 888-766-3246. Reinstatement is at the bank's sole discretion.