Skip to Main Content Skip to Sitemap

Overdraft Coverage Options: Overdraft Privilege and Overdraft Protection


Overdraft Coverage Options:
Overdraft Privilege and Overdraft Protection

Overdraft Coverage Options
The choice is yours. Consider these ways to cover overdrafts:
 

Service
 
Cost
Overdraft Protection Link to a Savings Account you have at Citizens & Northern Bank1 $10 fee per transfer
Overdraft Protection Link to a Ready Cash Line of Credit you have at Citizens & Northern Bank1, 2 $10 fee per transfer and/or finance charge
Overdraft Privilege $35 Overdraft Fee per item. Daily fee of $5 beginning on the 6th calendar day after the initial overdraft.
1Call us at 877-838-2517, email us at contactcn@cnbankpa.com, or come by a branch to sign up or apply for these services
2Subject to credit approval.

Overdraft Protection services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from your linked savings account for a $10 fee per transfer, or Ready Cash line of credit you may have at Citizens & Northern Bank for a $10 fee per transfer and/or finance charge. Please note that Ready Cash lines of credit are subject to credit approval.

Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Even if you have overdraft protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Please review the “What Else You Should Know About Overdraft Privilege” disclosure below for other important information.  Overdraft privilege limits are established by account type.  You can identify your account type by reviewing your Truth-In-Savings Disclosure or you will find it listed in the Statement Summary section on your most recent account statement.
 

$1,000 ODP Limit
 

$750 ODP Limit

$600 ODP Limit
  • Business Interest Checking
  • Super Business Checking
  • C&N Merit Checking
  • C&N Relationship Checking
  • C&N Everyday Checking
 
Transactions Covered with Overdraft Privilege Standard Coverage
(No action required)
Extended Coverage
(Your consent required) *

If you would like to select Extended
Coverage for future transactions:

  • call us at 877-838-2517
  • complete the online consent form above
  • visit any branch to pick up a consent form
  • mail a consent form to us at PO Box 58 Wellsboro, PA 16901
  • e-mail us at contactcn@cnbankpa.com
Checks X X
ACH - Automatic Debits X X
Recurring Debit Card Payments X X
Online Bill Pay Items X X
Teller Window Transactions X X
ATM Transactions   X*
Everyday Debit Card Transactions   X*
*If you choose Extended Coverage, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage.

You can discontinue the Overdraft Privilege in its entirety by contacting us at 877-838-2517 or sending us an e-mail at contactcn@cnbankpa.com.


What Else You Should Know About Overdraft Privilege
  • A link to a savings account or a ready cash line of credit with Citizens & Northern Bank may be a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts.  Use our mobile banking, online banking, and telephone banking services to keep track of your balance. For additional financial education resources, please visit www.mymoney.gov.
  • The $35 Overdraft Item Fee is the same fee amount that is charged if a check is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft Item Fee or a Returned Item Fee of $35. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn more than the Overdraft Privilege limit amount because of a fee.
  • Beginning on the 6th calendar day after the initial overdraft, we may charge your account a daily Overdraft Fee of $5 for each of the consecutive calendar days the account remains overdrawn. Fees and other charges debited to your account resulting in an overdrawn balance may cause Consecutive Days Overdraft Fees.
  • For consumer accounts, there is a limit of ($210) per day on the total fees we can charge you for overdrawing your account. This limit does not apply to business accounts.
  • Our general policy is to post Force-paid items from prior day processing, posted in time-stamp order, Cash W/D from ATM – time stamp order, POS W/D – time stamp order, Cashed checks – time stamp order, Auto Debit/automatic transfer, ACH Debits/Internet & Telephone Banking, Checks – serial number order, Fees & Other misc. items. Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of Overdraft Item Fees or Returned Item Fees assessed.
  • Although under payment system rules, Citizens & Northern Bank may be obligated to pay some unauthorized debit card transactions, Citizens & Northern Bank will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions and any fee(s).
  • Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring Overdraft Item Fees for transactions that we would otherwise be required to pay without assessing an Overdraft Item Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may also help you avoid overdrafts in excess of your available balance that could result in suspension of your debit card. If you consent to Extended Coverage on your consumer account, it will remain on your account until you otherwise withdraw it.
  • Citizens & Northern Bank authorizes and pays transactions using the available balance in your account. Citizens & Northern Bank may place a hold on deposited funds in accordance with our Expedited Funds Availability Disclosure, which will reduce the amount in your available balance. The available balance for checks, ACH items, and recurring debit card transactions is comprised of the ledger balance, less any holds on deposited funds and any debit card holds, plus the amount of the Overdraft Privilege limit and any available overdraft protection. The available balance for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance, less any holds on deposited funds and any debit card holds, plus any available overdraft protection, but does NOT include the Overdraft Privilege Limit. For accounts with Extended Coverage, the Overdraft Privilege Limit is included in the available balance for authorizing ATM and everyday debit card transactions.
  • Please be aware that the Overdraft Privilege amount is not included in your available balance provided through online banking, mobile banking or Citizens & Northern Bank’s ATMs.
  • Citizens & Northern Bank will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends, the funds will be added to the available balance in your account.  If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Overdraft Item Fee may be assessed.
  • Except as described herein, Citizens & Northern Bank may not pay items if your account does not contain available funds (including the Overdraft Privilege limit) to cover the item(s) and the amount of any fee(s).
  • Citizens & Northern Bank may suspend your debit card if you incur overdrafts in excess of the available balance in your account, including any Overdraft Privilege limit (as described herein). Citizens & Northern Bank will attempt to contact you regarding the suspended debit card and the transaction that caused the overdraft. If we are unable to contact you, debit cards on your account will remain suspended until you contact us.
  • Citizens & Northern Bank may also suspend your debit card if we are unable to contact you due to an incorrect mailing address or phone number(s). You must contact us with your correct mailing address and/or phone number(s) to have your debit card reinstated.
  • If your debit card is suspended, you will be unable to use your debit card for purchases or to access your account at the ATM, and if you use your debit card for recurring payments, e.g., utilities, you are responsible to make other arrangements for your recurring debit payment(s).
  • An Overdraft Privilege limits of $600, $750 or $1,000 is available for eligible consumer account types at account opening.  An Overdraft Privilege limit up to $1,000 is available for eligible business account types at account opening.
  • Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice. Any discretionary payment by Citizens & Northern Bank of an overdraft check (or item) does not obligate Citizens & Northern Bank to pay any other overdraft check (or item), or to provide notice of its decision to refuse to pay such check (or item).
  • Overdraft Privilege may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within 32 days for a period of 24 hours. You must bring your account balance positive for at least 24 hours to have Overdraft Privilege reinstated.
  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account Terms and Conditions. The total (negative) balance, including all fees and charges, is due and payable upon demand. The Deposit Account Terms and Conditions (and all amendments thereto) and Truth-In-Savings Disclosure shall control any possible conflict, if any, between any provision of this document and the Deposit Account Terms and Conditions or Truth-In-Savings Disclosure. A copy of these Account Disclosures is available to you upon request at any Citizens & Northern Bank office.

What You Need to Know About Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money 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.
  2. We also offer overdraft protection plans, such as a link to a savings account or a ready cash line of credit, which may be less costly than our standard overdraft practices.  To learn more, ask us about these plans.

This notice explains our standard overdraft practices

What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:
• Checks and other transactions made using your checking account number
• Automatic bill payments

We will not authorize and pay overdrafts for the following types of transactions without your consent.
• ATM transactions
• Everyday 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 & Northern Bank pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $35 each time we pay an overdraft
  • Beginning on the 6th calendar day after the initial overdraft, we may charge your account a daily Overdraft Fee of $5 for each of the consecutive calendar days the account remains overdrawn. Fees and other charges debited to your account resulting in an overdrawn balance may cause Consecutive Days Overdraft fees
  • There is a limit of $210 per day on the total fees we can charge you for overdrawing your account

What if I want Citizens & Northern Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 877-838-2517, visit our website at www.cnbankpa.com/odp and fill out the form below, email us at contactcn@cnbankpa.com, visit any branch to fill out a form, or take a form home and mail it to: PO Box 58 Wellsboro, PA 16901.  You can revoke your authorization for Citizens & Northern Bank to pay these overdrafts at any time by any of the above methods.  Your revocation must include both your name and your account number so that we can properly identify your account.

Extended Coverage Consent Form