Preventing & Managing Overdraft Fees
At times, unanticipated expenses, unforeseen circumstances or even a bookkeeping error can leave you with too little cash in your checking account. Having a check returned due to insufficient funds can be a frustrating, embarrassing and costly experience.
What You Need to Know About Overdrafts and Overdraft Fees
Overdraft coverage can give you peace of mind that your transactions will be paid, even if you don’t have the necessary funds in your account to cover them. Overdrawing can occur for a number of different reasons but with overdraft protection you can rest easy knowing that we’ve got you covered.
As a Bank of Cadiz business customer you can choose what type of overdraft coverage works for you or you can simply elect to not have overdraft protection on your account. Overdraft Protection is a service that can help you avoid overdraft fees and returned transactions.
- You can provide a source of funds, such as a savings account or line of credit, which can be linked to your checking account.
- Cash Reserve Credit Line is our overdraft protection that offers you the flexibility in managing your own funds. This is available for qualified customers subject to credit approval. (Conditions apply)
Overdrafts can be created by: checks, ACH transactions, in-person withdrawals, internet banking, preauthorized automatic transfers, telephone banking, ATM, or everyday debit card transactions and will result in a fee of $35 per item paid or returned. Accounts will be charged an overdraft per day fee of $5.00 after the account has been negative for 4 days.
If you are interested in our Cash Reserve Business Credit Line, please contact a lending officer at any of our locations.