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:
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.
Sunday | Monday | Tuesday | Wednesday | Thursday | Friday | Saturday |
---|---|---|---|---|---|---|
Account Balance: -$10 Days Overdrawn >$5: 1 |
Account Balance: -$10 Days Overdrawn >$5: 2 |
Account Balance: -$10 Days Overdrawn >$5: 3 |
Account Balance: -$10 Days Overdrawn >$5: 4 |
Account Balance: -$10 Days Overdrawn >$5: 5 |
||
Account Balance: -$10 Days Overdrawn >$5: 6 |
Account Balance: -$10 Days Overdrawn >$5: 7 COF Charged at Close of Business: $30 |
Account Balance: -$40 Days Overdrawn >$5: 8 |
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.