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Overdraft Privilege Service SM

(Always a Discretionary Service)

It is the policy of City Bank ("the bank, we, us, or our") to comply with applicable laws and regulations, and to conduct business in accordance with applicable safety and soundness standards.

A non-sufficient funds (negative) balance may result from:

  • The payment of checks, ATM withdrawals, electronic funds transfers, or other withdrawal requests;
  • Payments authorized by you;
  • The return of unpaid items deposited by you;
  • The imposition of bank service charges; or
  • The deposit of items which according to the bank's Funds Availability Policy are treated as not yet "available" or finally paid.

We are not obligated to pay any item presented for payment if your account does not contain sufficient collected funds. Rather than automatically returning, unpaid, any non sufficient funds items that you may have, if your eligible account has been open for at least thirty (30) days and thereafter you maintain your account in good standing, which includes at least:

  • Continuing to make deposits consistent with your past practices,
  • You are not in default on any loan obligation to the bank,
  • You bring your account to a positive balance (not overdrawn) at least once every thirty (30) days, and
  • Your account is not the subject of any legal or administrative order or levy.

We will consider, without obligation on our part, approving your reasonable overdrafts. This discretionary service will generally be limited to a $500 overdraft (negative) balance for Free Checking accounts, $700 overdraft (negative) balance for Free Checking with a recurring direct deposit, $700 overdraft (negative) balance for other eligible personal checking accounts and $1,000 overdraft (negative) balance for other eligible personal checking accounts with a recurring direct deposit (some restrictions do apply). Of course, any and all fees and charges, including without limitation our return item fee/overdraft paid fees (as set forth in our fee schedules) will be included in this limit and will apply to any transaction that overdraws your account including, but not limited to, payments authorized by Checks, ACH/Electronic Items, City Bank and foreign ATMs/Debit Card/Check Card, Internet Banking/Online banking and Telephone Banking Transactions.

We may refuse to pay an overdraft for you at any time, even though we may have previously paid overdrafts for you. You will be notified by mail of any non-sufficient funds items paid or returned that you may have; however, we have no obligation to notify you before we pay or return any item. The amount of any overdrafts plus our return item fee(s) and/or overdraft paid fee(s)-OOPS that you owe us shall be due and payable upon demand. If there is an overdraft paid by us on an account with more than one (1) owner on the signature card, each owner, and agent if applicable, drawing/presenting the item creating the overdraft, shall be jointly and severally liable for such overdrafts plus our return item fee(s) and/or overdraft paid fee(s)-OOPS.

Limitations:

Savings Type Accounts, Money Market Accounts, Public Funds/ Charitable Organization Accounts and Student Minor Accounts are not eligible. We may limit the number of accounts eligible for Occasional Overdraft Privilege Service OOPSSM to one account per household and one account per tax payer ID.

Eligible Transaction Types:

Each transaction/item initiated for payment against your checking account(s) may be processed by us using your assigned Occasional Overdraft Privilege Service OOPSSM limit, including without limitation: Checks, ACH, ATM, POS, Internet Banking, Bill Payment, and Telephone

Banking Bill Payment.

Here's how the Occasional Overdraft Privilege Service OOPSSM works if we pay your overdraft item: If you inadvertently write a check, make an ATM withdrawal or other payment or withdrawal request for more than the funds on deposit in your account, we may cover them, and save you time, money and inconvenience. Suppose that your account type permits a $500 limit. With Occasional Overdraft Privilege Service OOPSSM, you may be covered for a check of $477 plus the $27 Overdraft Paid Fee-OOPS. Alternatively, you may be covered for a $100 ATM withdrawal, a check of $354 plus the $54 Overdraft Paid Fee-OOPS for two items.

Optional Overdraft Protection Services:

City Bank offers optional overdraft protection products/services that you may apply for. These include Overdraft Protection from a Line of Credit and funds transfer from a designated Savings Account Overdraft Protection.

Customer Opt-Out:

You may choose at any time to not participate in City Bank's Occasional Overdraft Privilege Service OOPSSM by notifying, in writing, any City Bank customer service representative.

If You Need Help:

Of course, overdrafts should never be used to finance ordinary or routine expenses – and you should never rely on overdrafts to cover these expenses. If at any time you feel you need help with your financial obligations please contact customer service at 1 (800) 687-2265.

Always a Discretionary Service:

City Bank's OCCASIONAL OVERDRAFT PRIVILEGE SERVICE (OOPS)* does not constitute an actual or implied agreement between you and City Bank. Nor does it constitute an actual or implied obligation of or by City Bank. This service represents a purely discretionary courtesy or privilege that City Bank may provide to you from time to time and which may be withdrawn or withheld by City Bank at any time without prior notice or reason or cause.

*Occasional Overdraft Privilege OOPS SM is subject to approval. Some restrictions do apply.

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