Overdraft Privilege Service

Who is Qualified for Overdraft Privilege?

All consumer accounts, except Reconnect checking, are eligible to have overdraft privilege if  you maintain your account in good standing, defined as making regular deposits, bringing the account to a positive balance at least once every thirty (30) calendar days, you are not more than 30 days past due on any loan obligation to the bank, you are not subject to any legal or administrative orders or levy, or you don’t have an outstanding balance in an Overdraft Repayment Plan.

What You Need to Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money available 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 if you are qualified, called Overdraft Privilege.

 2. We also offer several overdraft protection plans, which may be less expensive than our standard overdraft practices. You may use a savings, money market or another checking account to cover overdrafts. We also offer a line of credit that can protect your account. To learn more about these plans, visit one of our branch locations or contact our Customer Service Center at 903-581-8100. 

What Standard Overdraft Practices Are Available to me?

With our Overdraft Privilege we may authorize and pay overdrafts, up to $300 (including overdraft fees), for the following types of transactions: 

  • Checks and other transactions made using your checking account
  • Online banking bill payments
  • Recurring electronic payments

We Will Not Authorize and Pay Overdrafts for the Following Types of Transactions Unless you "Opt In" above: 

  • ATM Transactions
  • Every Day 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 Citizens State Bank Pays My Overdrafts?

Under our standard overdraft practices (Overdraft Privilege Service):

  • We charge a fee of $30.00 if the overdraft item is greater than or equal to $10.01
  • Items $10.00 or less have no charge.
  • Maximum Daily Overdraft Item Fees = $180.00

What if I want Citizens State Bank to authorize and Pay Overdrafts on my ATM and Everyday debit card transactions?

If you would like Citizens State Bank to authorize and Pay Overdrafts on your ATM and Everyday debit card transactions then please contact us at 903-581-8100, Visit us at www.mybankcsb.com, or come by one of our convenient branch locations. 

How quickly must I repay my Overdraft Privilege? 

You should make every attempt to bring your account to a positive balance within 30 days. If you are not able to do so, you will receive a letter from Citizens State Bank informing you of the situation and your options. If, after a period of time, your account has not been brought to a positive balance, we may suspend your Overdraft Privilege limit and take other steps to recover funds.

What if I do not want to have Overdraft Privilege on my checking account? 

In the event you would like to have this service removed from your account, you may do so by calling 903-581-8100 . However, once this service is removed, you should keep in mind that if an item is presented for payment and there are not sufficient funds in your account, the item may be returned to the payee and our standard NSF fee will be charged per item.

Please note: Overdraft Privilege does not constitute an actual or implied obligation of or by the bank. The service represents a purely discretionary courtesy or privilege that the bank may provide to you from time to time and which may be withdrawn or withheld by the bank at any time without prior notice or reason or cause.