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, 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
 Online Banking Transfers X X
 Telephone Banking 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

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.
  • For consumer accounts, there is a limit of five Overdraft Fees ($175) per day that we will charge. We will not charge an Overdraft Fee if a consumer account is overdrawn by $10 or less or if the amount of the item is $5 or less. These exceptions do not apply to business accounts.
  • 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).
  • Giving us your consent to pay every day debit card and ATM overdrafts may result in you incurring Overdraft Fees for transactions that we would otherwise be required to pay without assessing an Overdraft Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may also help you avoid overdrafts in excess of your available funds that could result in restriction of your debit card.
  • 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).
  • An Overdraft Privilege limit of $500 is available for eligible Personal 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 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 Plan that links your checking account to another deposit account you have with the bank for which we charge no fee overdrafts.  Overdraft transfers are made in $100 increments.

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 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, 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.


Please fill out this secure form: