An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. Overdrafts are paid at our discretion. We do not guarantee that we will authorize and pay any type of overdraft transaction. When we pay an overdraft, you will owe the bank for the overdrawn item and the Overdraft Paid Item fee. If we do make a decision to authorize and pay an overdraft, it would be only for the following types of transactions:

• Insufficient Fund (NSF) checks
• In personal withdrawals
• Automatic Clearing House (ACH) transactions
• Recurring POS transactions
• Electronic bill-pay transactions

When we do not authorize and pay the overdraft item, the item will be returned and you will be charged an insufficient (NSF) Returned Item fee. You may also be charged a returned item fee by the merchant or company that originally received your item.

ATM and Debit Card Pos Transactions

Central Bank does not authorize and pay overdrafts for ATM transactions or one-time Debit Card POS transactions. If you try to make purchases with your debit card without enough money in your checking account the transaction will be declined.

There may be unforeseen technical issues which will allow an ATM or one time Debit Card POS transaction to be processed when there are not sufficient funds in your account. This is not the same thing as the bank knowingly authorizing an overdraft or setting your account up to permit the overdraft. Central Bank simply does not set up ATM or one time Debit Card POS transactions to overdraw for anyone.

How To Protect Yourself Against an Unintended Overdraft? Answer = Overdraft Protection

Central Bank offers Overdraft Protection (ODP). This service automatically transfers sufficient funds from your Central Bank personal savings, money market account or a personal line of credit to cover overdrafts from checks, electronic bill-pay, recurring POS transactions and ACH transactions. There are fees for these types of transfers; however, they are lower than the standard overdraft/nonsufficient fund fee. ODP does not allow ATM or one-time Debit Card POS transactions to take place. See a Central Bank representative to obtain complete information on our overdraft protection program and to enroll.

Fees

Central Bank charges the following fees:
NSF Returned Checks, Overdraft Paid Checks, Electronic bill-pay items, Recurring POS transactions and ACH transactions: $29
ODP Transfer from personal savings or money market account: $10
ODP Transfer from a personal line of credit: No Charge
ATM and Debit Card Point-of-Sale (POS) Transactions: No Charge* (*Remember we do not authorize these transactions – however – they may occur from time to time based upon technical issues or processing of the transaction by merchants)

06-28-10 Member FDIC