Overdraft Protection

Account holders at Citizens State Bank may choose to sign up to participate in one of the overdraft protection programs we offer.
(A written agreement is required prior to participating in these overdraft protection plans.)

Overdraft Protection Transfer Program
In order to participate in our Overdraft Protection Transfer Program, a customer must hold an additional checking or savings account with Citizens State Bank. The secondary account must have sufficient funds available to cover the overdraft at the time of the overdraft in order to qualify for overdraft protection via this method.

VISA Credit Card Overdraft Protection
With our VISA Credit Card Overdraft Protection, there is a one-time sign-up fee of $15.00. In order to participate in our VISA Credit Card Overdraft Protection Program, a customer must hold a VISA Credit Card with Citizens State Bank and have sufficient funds available on the card to cover the overdraft. Overdraft transfers are made in even increments of $50.00. Citizens State Bank will charge the greater of $2.00 or 2.5% of the transfer amount for each Visa Credit Card Overdraft transfer, that of which is not to exceed the Bank’s current NSF fee.

Ready Reserve
In order to participate in our Ready Reserve Overdraft Protection, a customer must complete a ready reserve application requesting an overdraft line ranging from $250 up to $3000 with approved credit. No collateral is needed and the APR (Annual Percentage Rate) is 15.00%, a $10 Annual Fee is charged on the anniversary date of the application and no per advancement fee.

Please feel free to contact us and one of our friendly Customer Service Representatives will be more than happy to sign you up for Overdraft Protection today!

Overdraft Fees
**Citizens State Bank uses the traditional Ad Hoc review, performed by bank employees, whereby pay or return decisions are made on an item by item basis.
Each Overdraft Item $35, Each Item Returned NSF $35, Each Pre-Authorized Automatic Transfer NSF $35.
Overdrafts are created by check, in person withdrawal, or other electronic means and will be subject to the overdraft and NSF fees, except Consumer Accounts will not be subject to an overdraft fee on a transaction initiated through an ATM or for a one time Point of Sale (POS) that is subsequently posted to their account and causes an overdraft.

Disclosure

Citizens State Bank uses the ad-hoc system to determine Overdrafts. This manual system determination is done by Management of the bank each morning, whereby pay or return decisions are made on an item by item basis.

It will be our procedure to charge a $35 effective September 1, 2016 fee on each item that overdraws an account. 

  • If there are more that 4 items that overdraws an account, the max we will change in one day will be $140.
  • if the items overdraw the account by $10 or less the $35.00 fee will not be charged.
  • If the transaction drawn against the account is $10 or less the $35 fee will not be charged
  • If the transaction is a ATM or one-time preauthorized Point of Sale transactions a fee will not be charged
  • If the transaction is over drawing a savings account a fee will not be charged

It will be our procedure to send a notice of the Overdraft fee and the items that overdraws a customer’s account. Along with this notice we will also send a stuffer that shows that we offer (3) types of Overdraft Protections Plans that a customer can sign up for: Overdraft Protection Transfer Program, Visa Credit Card Overdraft Protection Plan and Ready Reserve. If the account is overdrawn we will continue contacting our customer to repay the overdraft, generally if an account is still overdrawn at day 21, the account will be close on overdraft.