Overdraft Protection and Overdraft Privilege

What Else You Should Know

Linking your checking account to another deposit account may be a more cost-effective option than an overdraft. You must sign up for this service, and there is a $3 fee per transfer to cover the overdraft. You may also choose to link your checking account to a Home Equity Line of Credit or Consumer Line of Credit at Crews Bank & Trust; there is no fee for transfers to cover the overdraft from these types of accounts.

A single larger overdraft will incur just one fee, unlike multiple smaller overdrafts which can result in multiple fees. Good account management is the best way to avoid overdrafts. Use our mobile banking, online banking, and telephone banking services to monitor your balance. For additional financial education resources, please visit www.mymoney.gov.

The $33 Overdraft Item Fee charged for overdrawing your account is the same fee applied if an item is returned unpaid. If multiple items overdraw your account on the same day, each item will incur an Overdraft Item Fee or a Return Item Fee of $33. All fees and charges are included as part of the Overdraft Privilege limit amount. Your account may become overdrawn beyond the Overdraft Privilege limit due to these fees.

Recipients of federal or state benefits who do not want us to deduct the overdrawn amount and the Overdraft Item Fee from their deposits can call us at 888-406-2220 to discontinue Overdraft Privilege.

If an item is returned because your Available Balance (as defined below) is insufficient, and the item is presented for payment again, Crews Bank & Trust (“We”) may charge a Returned Item Fee each time the item is returned. This means you could be charged more than one fee for any given item if it is returned and represented. When we charge a Return Item Fee, it reduces your Available Balance and may put your account further into overdraft. If, upon representment, the Available Balance is sufficient to cover the item, we may pay it and, if this causes an overdraft, charge an Overdraft Item Fee.

We may use the terms “item” and “transaction” interchangeably.

For consumer accounts, we limit Overdraft Item Fees to $165 (5 fees) per day. We do not charge an Overdraft Item Fee if a consumer account is overdrawn by $10 or less. These exceptions do not apply to business accounts.

Here is how we determine overdrafts: We generally post transactions throughout the day, credit before debits. If there are available funds to cover some, but not all, of the withdrawals or other debits to your account on a single business day, we will post the checks for which there are sufficient available funds in sequential order by check number, from the lowest check to the highest. ATM, debit card, and ACH transactions are each posted from lowest to highest dollar amount within their category, in the order of ATM first, then debit card, then ACH transactions. However, due to the various ways you can access your account, the posting order of individual items may differ from these general policies. Holds on funds and the order in which transactions are posted can impact the total amount of Overdraft Item Fees or Return Item Fees assessed.

We may be required to pay some debit card transactions that are not authorized through the payment system due to payment system rules, which could result in fees if such transactions overdraw your account. However, we will not authorize debit card or ATM transactions unless your account’s Available Balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any associated fees.

By giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage), you may incur Overdraft Item Fees for transactions that we would otherwise be required to pay without assessing a fee. However, this consent allows us to authorize transactions up to the amount of your Overdraft Privilege limit. If you consent to Extended Coverage, it will remain on your account until you withdraw it.

Overdraft Privilege is not a line of credit; it is a discretionary service that can be withdrawn at any time without prior notice. The depositor and each authorized signatory are jointly and severally liable for all overdraft and fee amounts, as described in the Account Agreement. The total negative balance, including all fees and charges, is due and payable upon demand.

Understanding Your Available Balance

Your account has two types of balances: the Ledger Balance and the Available Balance. We use the Available Balance to authorize and pay transactions.

• Ledger Balance: This reflects the full amount of all deposits to your account and all posted payment transactions. It does not include checks you have written that are still outstanding or transactions that have been authorized but are still pending.
• Available Balance: This is the amount you can use for purchases, withdrawals, or to cover transactions. It is your Ledger Balance minus any holds due to pending debit card transactions and holds on deposited funds.

Authorization of Transactions:

• For checks, ACH items, and recurring debit card transactions, the balance used is your Available Balance plus the Overdraft Privilege limit and any available Overdraft Protection.
• For ATM and everyday debit card transactions with Standard Coverage, the balance used is your Available Balance plus any available Overdraft Protection, but it does not include the Overdraft Privilege limit.
• For ATM and everyday debit card transactions with Extended Coverage, the balance used is your Available Balance plus any available Overdraft Protection and includes the Overdraft Privilege limit.

Important Points:

• Your Available Balance reflects pending transactions and debit holds, so it may appear sufficient to cover a transaction, but upon settlement, it might not be. This could result in further overdrawing your account and additional overdraft fees.
• Any item that would overdraw your account based on your Available Balance may create an overdraft.
• We may place a hold on deposited funds according to our Account Agreement, reducing your Available Balance.
• The Overdraft Privilege amount is not included in the available balance shown through online banking, mobile banking, or Crews Bank & Trust ATMs.
• We will place a hold on your account for any authorized debit card transaction until it settles (usually within two business days) or as permitted by payment system rules. Sometimes, the hold may exceed the transaction amount. When the hold ends, the funds will be added to your Available Balance. If your account is overdrawn after the held funds are added and the transaction is posted, an Overdraft Item Fee may be assessed.
• Except as described here, we will not pay items if your Available Balance (including the Overdraft Privilege limit, if applicable) is insufficient to cover the items and any fees.

Debit Card Suspension:

• If your account is overdrawn for more than 32 consecutive days, your debit card(s) may be suspended. They will remain suspended until you make sufficient deposits to bring your account balance to a positive status.
• If your debit card is suspended, you will not be able to use it for purchases or ATM access. If you use your debit card for recurring payments, such as utilities, we encourage you to arrange alternative payment methods to avoid interruptions.

Understanding Overdraft Privilege Limits
At account opening, Eligible Consumer Checking accounts will receive an Overdraft Privilege limit of $500 while eligible Business Checking accounts will receive a limit of $1,000. Overdraft Privilege may be suspended if you default on any loan or other obligation to us, or if your account becomes subject to any legal or administrative order or levy. If you do not maintain your account in good standing by bringing it to a positive balance within 32 days for at least one business day, your Overdraft Privilege limit may be reduced. To reinstate the full Overdraft Privilege limit, you must bring your account balance to a positive status for at least one business day.

If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at 888-406-2220 or visit a branch.

What You Need to Know about Overdrafts and Overdraft Fees

The $33 Overdraft Item Fee charged for overdrawing your account is the same fee applied if an item is returned unpaid. If multiple items overdraw your account on the same day, each item will incur an Overdraft Item Fee or a Return Item Fee of $33. All fees and charges are included as part of the Overdraft Privilege limit amount. Your account may become overdrawn beyond the Overdraft Privilege limit due to these fees. We can cover your overdrafts in different ways:

• We have Standard Overdraft Practices that come with your account
• We also offer Overdraft Protection Plans, such as a link to a Crews Bank & Trust deposit account or a line of credit, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
• Link to a Crews Bank & Trust deposit account for a cost of $3 per transfer. Link to a Crews Bank & Trust Home Equity Line of Credit or Consumer Line of Credit at Crews Bank & Trust $0 fee per transfer (other loan terms would apply).

This notice explains our Standard Overdraft Practices

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

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

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

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

• ATM Transactions
• Everyday debit card transactions

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

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

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

Under our Standard Overdraft Practices:

• We will charge you a fee of up to $33.00 each time we pay an overdraft.
• There is a limit of $165.00 on the total fees we can charge you for overdrawing your account per day.
• We do not charge an Overdraft Item Fee if a consumer account is overdrawn by $10 or less. These limitations do not apply to business accounts.

What if I want Crews 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 us at 888-406-2220 
• Visit any branch
• Email us at support@crews.bank

You can revoke your authorization for Crews 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.