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Overdraft Protection

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.


Good Account Management

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 e-mail you when your balance drops below an amount you set.

Managing your finances responsibly is the best way to avoid overdrafts and fees. However, if a mistake occurs, Cross Keys Bank offers the following alternatives to cover overdrafts.

1. Overdraft Transfer Protection (Link to Another Account)

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.

2. 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.

3. 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. To receive this service you must affirmatively “opt-in” to authorize us to consider for payment the overdraft of your ATM and one-time debit card transactions, (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.

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

  • Account has been open for at least 30 days
  • Account is in good standing
  • If the account has been overdrawn previously, it has been regularly restored to a positive balance
  • 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 exists that an overdraft will not be repaid. 

The following are examples of situations where the bank would suspend the service:

  • Account remains overdrawn 31 days or more
  • 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 is charged to your account for each overdraft transaction item that is paid. To discourage long term overdrafts, on the 7th calendar day of a continuous overdraft you will be charged a $4 Continuous Overdraft Charge for each day the account remains overdrawn. If the 7th day falls on a weekend, your account will be charged the $4 continuous daily overdraft fee on the preceding Friday.

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.

Overdraft Limits: Accounts meeting the criteria (stated above) and maintaining a positive balance for 30 consecutive days may be assigned up to 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. Typically, all credits are posted to your account first then items are paid in the following order by category: unposted items from previous day, ATM withdrawals, debit card transactions, teller transactions, all other checks and ACH items.

Holds: In order to avoid overdrafts due to ATM and everyday debit cards transactions, Cross Keys Bank will place a hold on your account for any ATM or everyday debit card transaction authorized until the transaction settles. ATM and everyday debit card transactions usually settle within two business days after the transaction is authorized. The amount of the hold will be for the amount authorized, or as permitted under applicable payment network rules.

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. If your account has been overdrawn 31 consecutive days and Overdraft Privilege was revoked, it will be added back once the account reflects a positive balance. Reinstatement is at the bank’s sole discretion.

Opting Out: If you decide you no longer want this service, you can request to “opt out” of our Standard Overdraft Services 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.)


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