WHAT YOU NEED TO KNOW ABOUT OVERDRAFTS AND OVERDRAFT FEES

An overdraft occurs when your account does not have enough money to cover a transaction, but we allow the transaction to be paid. We can choose to cover these overdrafts one of two ways:

  1. Through standard overdraft practices that come with your account.

  2. Through offered overdraft protection plans, such as a sweep linked to a savings account that would cover the overdrawn balance at no charge to you. Please ask us about this service to learn more.

This notice explains our standard overdraft practices.

• What standard overdraft practices come with an account?

We may authorize and pay overdrafts for the following types of transactions:

  • Checks and transactions made using a checking account number

  • Automatic bill payments

We do not authorize or pay overdrafts for the following types of transactions unless you have opted in acknowledging the fees involved:

  • Automated Teller Machine (ATM) transactions

  • Everyday debit card transactions

We authorize and pay overdrafts at our discretion. We do not guarantee an overdraft will be covered for any type of transaction.

If we decline to authorize and pay an overdraft, the transaction is declined. and the account is charged a $25.00 overdraft fee per item. E-checking accounts are chaged a $9.00 overdraft per item.

• What fees will I be charged if Cashmere Valley Bank pays my overdraft?

Standard overdraft practices are as follows:

  • We charge a $25.00 overdraft fee per item. E-checking accounts are charged a $9.00 overdraft fee per item.

  • We do not charge a daily overdraft fee, nor do we charge for consecutive days overdrawn.

  • We will charge you no more than five (5) overdraft item fees for consumer accounts, and no more than ten (10) overdraft item fees for business accounts, in one business day.

What if I want Cashmere Valley Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you wish to authorize Cashmere Valley Bank to authorize and pay overdrafts for ATM and everyday debit card transactions, please provide your information and follow the links below to make your selection about opting-in to this service.


  

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