You Have Options for Covering Unexpected Overdrafts

Life happens! We 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 customerservice@csbtfl.com, 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.

With Overdraft Privilege, you may select Extended Coverage which may include transactions at an ATM or at a point of sale purchase. The following chart depicts the types of transactions that would be covered with Standard Coverage and Extended Coverage.

Transactions Covered
with Overdraft Privilege		 Standard Coverage
(No action required)		 Extended Coverage
(Your consent required)*

If you would like to select Extended Coverage for future transactions:
 Checks X X
 ACH - Automatic Debits X X
 Recurring Debit Card Payments X X
 Online Bill Pay Items X X
 Teller Window Transactions X X
 ATM Transactions   X*
 Everyday Debit Card Transactions   X*

* If you choose Extended Coverage, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage.

You can discontinue the Overdraft Privilege in its entirety in person, by contacting us at 941-624-5400 or sending us an e-mail at customerservice@csbtfl.com.

Overdraft Coverage - What Else You Should Know
  • A link to another account is the least expensive option to cover an overdraft. You must sign up for this service and there is a $5 per transfer fee to cover the overdraft.  (Transfers from Savings or Money Market Accounts are limited; see the Deposit Account Agreement and Disclosure for details.)
  • 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.For additional financial education resources, please visit www.mymoney.gov.
  • The $35 OD Limit Fee that is charged if you overdraw your account more than $10 is the same fee that is charged for items returned to the payee due to insufficient funds. If multiple items overdraw your account on the same day, each item will be assessed an OD Limit Fee or Returned/Paid NSF fee of $35. Your account may become overdrawn in excess of the Overdraft Privilege limit amount as a result of the assessment of a fee or fees.
  • There is a limit of five (5) OD Limit Fees ($175) per day that we will charge. We will not charge an OD Limit Fee if a consumer account is overdrawn by $10 or less. These exceptions do not apply to business accounts.
  • We generally post items throughout the day, the following explains how items are posted:
    • Credits​ before debits
    • Checks in number order
    • ATM, ACH and debit card transactions from lowest to highest by dollar amount
      However, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies. Holds on funds (described herein) and the order in which transactions are posted may affect the total amount of OD Limit Fees or Returned/Paid NSF Fees assessed.
  • Charlotte State Bank & Trust will not authorize debit card or ATM transactions unless there are sufficient available funds (including overdraft coverage options) to cover the transactions and the amount of any fee(s). Although under payment system rules, Charlotte State Bank & Trust may be obligated to pay some debit card transactions that did not follow normal authorization rules.
  • Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring OD Limit Fees for transactions that we would otherwise be required to pay without assessing an OD Limit Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may help you avoid overdrafts in excess of your available balance that could result in suspension of your debit card. If you consent to Extended Coverage on your consumer account, it will remain on your account until you otherwise withdraw it.
  • Charlotte State Bank & Trust authorizes and pays transactions using the available balance in your account. Charlotte State Bank & Trust may place a hold on deposited funds in accordance with our Deposit Account Agreement and Disclosure, which will reduce the amount in your available balance. The available balance for checks, ACH items and recurring debit card transactions is comprised of the ledger balance, less any holds on deposited funds and any debit card holds, plus the amount of the Overdraft Privilege limit and any available Overdraft Protection. The available balance for ATM and everyday debit card transactions on accounts with standard Overdraft Privilege Coverage is the ledger balance, less any holds on deposited funds and any debit card holds, plus any available Overdraft Protection, but does NOT include the Overdraft Privilege Limit.  For accounts with Extended Coverage, the Overdraft Privilege Limit is included in the available balance for authorizing ATM and everyday debit card transactions.
  • Please be aware that the Overdraft Privilege amount is not included in your available balance provided through online banking, mobile banking, telephone banking or Charlotte State Bank & Trust ATMs.
  • 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 OD Limit 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).
  • Charlotte State Bank & Trust may suspend your debit card if you incur overdrafts in excess of the available funds in your account, including any Overdraft Privilege limit (as described herein). Debit cards on your account will remain suspended until you make sufficient deposits so that your available balance, taking into account any Overdraft Privilege limit, is positive and then you contact us.
  • Charlotte State Bank & Trust may also suspend your debit card if your account is overdrawn more than thirty-two (32) consecutive calendar days. Debit cards on your account will remain suspended until you make sufficient deposits so that your account balance is positive and then you contact us.
  • Charlotte State Bank & Trust may also suspend your debit card if we are unable to contact you due to an incorrect mailing address or phone number(s). You must contact us with your correct mailing address and/or phone number(s) to have your debit card reinstated.
  • If your debit card is suspended, you will be unable to use your debit card for purchases or to access your account at the ATM, and if you use your debit card for recurring payments, e.g., utilities, you are responsible to make other arrangements for your recurring debit payment(s).
  • An Overdraft Privilege limit of $500 will be granted at account opening to eligible Consumer Checking accounts.
  • 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 thirty-two (32) consecutive calendar days for a minimum of one business day. You must bring your account balance positive for at least one business day to have Overdraft Privilege reinstated.
  • 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 Agreement and Disclosure. The total negative balance, including all fees and charges, is due and payable upon demand.
Overdrafts and Overdraft Fees - What You Should Know

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway.  We can cover your overdrafts in two different ways:

  1. We have Standard Overdraft Practices that come with your account.
  2. We also offer an Overdraft Protection Plans. This service that you can sign up for, links your checking account to another deposit account you have with the bank which may be less costly than our standard overdraft practices. To learn more, ask us bout this option.

This explains our Standard Overdraft Practices.

What are the Standard Overdraft Practices that come with my account?

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

  • Checks and other transactions made using your checking account
  • Automatic bill payments

     We will not authorize and pay overdrafts for the following types of transactions without your consent:

  • ATM transactions
  • Everyday debit card transactions

     If we do not authorize and pay an overdraft, your ATM or debit card transaction will be declined.

     We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

What fees will I be charged if Charlotte State Bank & Trust pays my overdraft?

     Under our Standard Overdraft Practices:

  • We will charge you a fee of $35 each time we pay an overdraft
  • We will not charge you a fee if your account is overdrawn by $10 or less on any given day or if the amount of the item is $5 or less   
  • There is a limit of five overdraft fees ($175) per day that we will charge

What if I want Charlotte State Bank & Trust to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 941-624-5400, visit our website at https://www.charlottestatebankandtrust.com or complete the form below and present it at a branch or mail it to: 1100 Tamiami Trail, Port Charlotte, FL 33953.  You can revoke your authorization for Charlotte State Bank & Trust to pay these overdrafts at any time by any of the above methods.  Your revocation must include both your name and your account number so that we can properly identify your account.

If you have any questions about Overdraft Protection or Overdraft Privilege, please email us at customerservice@csbtfl.com, call us at 941-624-5400 or visit a branch. To view the FDIC's Guide to Preventing and Managing Overdraft Fees, click here.

If you would like to select Extended Coverage, please complete this form and submit it at any branch.

OR

Please fill out this secure form:



  • Personal Banking