You Have Options for Covering Unexpected Overdrafts

Life happens! We, at Charlotte State Bank & Trust understand that from time to time you may unexpectedly overdraft your account. Returned checks can be costly. Overdraft Coverage can help.

We want you to know that you have options for your Overdraft Coverage.

The choice is yours, consider these ways to cover overdrafts:

  • Establish Overdraft Protection. This service links your checking account to another deposit account you have with us. With this option, overdrafts will be transferred in increments of $100. There is no cost for the transfer to cover the overdraft – this is your least costly way to cover overdrafts. Call us at 941-624-5400, email us at, or come by a branch to sign up or apply for this service.
  • Utilize your Overdraft Privilege. This service allows you to overdraft your account up to the disclosed limit for a $35 per overdraft fee in order to pay for the transaction. Even if you have Overdraft Protection, Overdraft Privilege is available as secondary coverage if the other protection is exhausted.

All eligible business accounts have ‘Extended’ Overdraft Privilege Coverage, which covers all transaction types listed below:

Transactions Covered with Extended Overdraft Privilege
 Checks X
 ACH - Automatic Debits X
 Recurring Debit Card Payments X
 Online Bill Pay Items X
 Online Banking Transfers X
 Telephone Banking X
 Teller Window Transactions X
 ATM Transactions X*
 Everyday Debit Card Transactions X*
Overdraft Coverage - What Else You Should Know
  • A link to another account is the least expensive option to cover an overdraft and transfers will be made in increments of $100.
  • A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our Mobile Banking, Online Banking, and Telephone Banking services to keep track of your balance. You can also avoid overdrafts by signing up for text or email alerts thru Online Banking to notify you when your account is reaching a low balance.
  • We generally post items in the following order:
    • Credits​
    • ATM and debit card transactions (in the order received)
    • ACH debits (low to high by dollar amount)
    • Checks (check number order)
      However, exceptions will occur. Holds on funds (described below) and the order in which transactions are posted may impact the total amount of Overdraft Fees assessed.
  • The $35 Overdraft Fee is the same fee amount that is charged if a check is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft or Overdraft Fee of $35. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn in excess of the Overdraft Privilege limit amount as a result of a fee.
  • Although under payment system rules, Charlotte State Bank & Trust may be obligated to pay some unauthorized debit card transactions, Charlotte State Bank & Trust will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions and any fee(s).
  • Charlotte State Bank & Trust authorizes and pays transactions using the available balance in your account. The available balance is comprised of the ledger balance (collected funds) less any debit card holds, and does not include any deposited funds on hold. Charlotte State Bank & Trust may place a hold on deposited funds in accordance with our Deposit Account Agreement and Disclosure. If the funds in the available balance are not sufficient to cover a transaction, any available Overdraft protection and/or the amount of the Overdraft Privilege limit, may be used to authorize and pay a transaction.
  • Charlotte State Bank & Trust will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Overdraft Fee may be assessed.
  • Except as described in this letter, Charlotte State Bank & Trust will not pay items if your account does not contain available funds (including the Overdraft Privilege limit) to cover the item(s) and the amount of any fee(s).
  • We may restrict your debit card use if you incur overdrafts in excess of the available funds in your account, including any Overdraft Privilege limit.
  • An Overdraft Privilege limit of $750 is available for eligible Business Checking accounts at account opening.
  • Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
  • Overdraft Privilege may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within 32 days for a minimum of one business day.
  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account and Disclosure Agreement. The total (negative) balance, including all fees and charges, is due and payable upon demand.

If you have any questions about Overdraft Protection or Overdraft Privilege, please email us at, call us at 941-624-5400 or visit a branch.