Take control of your finances with overdraft protection
What is overdraft protection?
Overdraft protection is a service that can be applied to an account to cover transactions that exceed the available funds, allowing the payment to go through instead of being declined. This protection can help you avoid fees for insufficient funds and ensure that essential payments, such as bills or purchases, are not disrupted.
Understand why overdrafts occur
Overdrafts can happen when you spend more money than you have available in your checking account. Even if you keep tabs on your balance online or with text alerts, some scenarios could lead to an overdraft:
- Insufficient funds: This is the most common reason for overdrafts—simply not having enough money in your account to cover a transaction.
- Automatic payments: If you have automatic bill payments set up, you could overdraw if the processing date occurs when there are insufficient funds in the account it's drawing from.
- ATM withdrawals: Getting cash from an ATM can lead to an overdraft if you take out more money than what is available in your account. You can always check your balance prior to making a withdrawal.
- Overlapping transactions: This can happen if you have several pending transactions, such as checks, debit card purchases, or electronic payments that take longer to process.
- Delayed deposits: If you rely on pending deposits, such as paychecks or transfers, to cover your expenses, you could overdraw if they are delayed or not processed when you expected.
- Account fees: Overdrafts can also occur when account maintenance fees or other banking fees are deducted from your account balance, pushing it below zero.
Get all the benefits of overdraft protection
By opting for overdraft protection, you can enjoy several advantages, like avoiding costly overdraft fees or service interruptions in recurring payments with retailers you have a card on file with. Additionally, it can help prevent your debit card from getting declined for an on-demand purchase from an app or brick-and-mortar store.
Avoid overdraft fees
It’s smart to have a safety net in place in the event that you do overdraw. However, avoiding overdrafts in the first place is even more beneficial. Here are a few tips to help:
- Keep an eye on your account balance. Remember that some checks and automatic payments may not have cleared yet in accordance with our fund’s availability policy.
- Track your spending. Record all checks when you write them and other transactions when you make them. And don’t forget to subtract any charges.
- Pay special attention to your electronic transactions. Record your ATM withdrawals and charges, debit card purchases, and online payments.
- Don’t forget about automatic bill payments. This includes recurring monthly subscriptions, utilities, insurance, or loan payments.
- Review your account statements each month. Between statements, you can find out which payments have cleared and check your balance by calling your bank or by checking online or at an ATM.
Get the right type of protection for you
Community Bank offers a range of comprehensive overdraft services to suit your specific needs. By understanding these options, you can choose the one that aligns with your financial goals and preferences. Here are the services we offer:
- FREE check register.
- FREE ATM inquiries at all Community Bank ATMs. Account balance appears on receipts; no transaction is necessary to see it.
- FREE telephone banking at 1-800-991-4280. Do your banking and check your balance 24/7.
- FREE online banking. See your activity and balance 24/7. Accessible from any computer worldwide.
- FREE mobile banking. See your activity and balance 24/7. Deposit checks.
- FREE bill pay. Schedule payments when you want.
- Easy-to-balance monthly statements.
- In-person assistance—stop by any Community Bank branch. We’re happy to help in any way, including checking your balance.
- ChekCredit overdraft protection lines of credit. Contact a branch employee for terms.
- Overdraft Sweep Service to set up automatic transfers from a savings or money market account to cover overdrafts.
- Checking accounts that do not include a monthly service charge. Some Community Bank accounts may have additional overdraft charges or service fees. PA residents, click here to see accounts in your area. All other locations, click here to see accounts in your area.
Set up overdraft protection today
Having overdraft protection on your CBNA debit card is a smart financial move that can provide security and peace of mind. With a wide variety of services available, you always have options when it comes to safeguarding your finances when you bank with us.
We’re committed to helping make sure your transactions go as smoothly as possible. If you have any questions or need assistance setting up any of these services, contact your local branch or our Customer Care Center at 1-866-764-8638.