OVERDRAFT PROTECTION

Overdraft Protection and services can help avoid overdrafts, declined transactions and non-sufficient funds fees.

California Bank & Trust offers options to help you prevent overdraft transactions:

• Overdraft Deposit Transfer Service[cite::260::cite] — Link a coverage account (CB&T savings, money market, or secondary checking account) to your primary checking account and available funds are automatically transferred to help prevent overdrafts if the balance on your primary checking account is too low.
• Money Reserve Line of Credit[cite::261::cite]— Apply for an overdraft line of credit, and the line of credit automatically transfers available funds to cover overdrafts on your CB&T personal checking account.
• Business Access Line of Credit[cite::259::cite]— Business clients can apply for a business line of credit, once linked the line of credit automatically transfers available funds to cover overdrafts on your CB&T business checking account.

If you do not currently utilize one of the Overdraft Protection options described above, the following information outlines how overdrafts on your account will be handled:

Beginning August 19, 2020, our Overdraft Service Fee is changing. The Overdraft Service Fee, which was charged daily to overdrawn accounts, will be discontinued and replaced with a Continuing Overdraft Fee (“COF”).

A COF of $30 will be charged if your account remains overdrawn more than $5.00 for 7 consecutive calendar days. This fee will be charged for up to three consecutive 7-calendar day periods that your account is overdrawn more than $5.00.

Example
Let’s say that on a Tuesday you overdraw your account by $10 (in other words, by more than $5.00). Tuesday will be the first calendar day we count when determining whether your account will be charged a COF.  If your account remains overdrawn more than $5.00 for an additional 6 consecutive calendar days (in other words, for a total of 7 consecutive calendar days), we will charge a COF to your account following the close of business on the seventh calendar day (the following Monday). There is an exception to this rule: if the seventh consecutive calendar day your account is overdrawn by more than $5.00 falls on a Saturday, Sunday, or bank-observed holiday, the COF will be charged only if your account remains overdrawn by more than $5.00 at the close of business on the next calendar day we are open for business. This example is illustrated in the table below.

You can avoid being charged a Continuing Overdraft Fee by not allowing your account to remain overdrawn more than $5.00 for seven consecutive calendar days. You may check your account balance (and make a deposit to your account) anytime through our online and mobile banking services or by visiting a bank branch during business hours.