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HOW CUSTOMERS CAN MAKE ELECTION FOR OVERDRAFT SERVICES |
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Federal regulations dictate how debit and ATM card related overdrafts are handled for checking accounts at all banks, including Citywide Banks.
Citywide is unable to cover certain overdrafts unless the customer gives permission to do so.
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| MORE OVERDRAFT COVERAGE RESOURCES |
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These new rules were defined to help consumers control overdrafts and reduce the related expenses – especially for small transactions created by debit card purchases. While Citywide policy has always been to cover and not charge for small one-time overdrafts – this new rule offers customers the option of avoiding overdraft fees for debit card transactions all-together if they choose.
Benefits of ‘Opting-In’
Customers that 'opt-in" will enjoy the added benefit of being allowed to overdraw their account when using their ATM or debit card. This enables customers to avoid embarrassment, take care of an emergency, or withdraw extra funds when they need them most.
Citywide Banks can provide this option. However, the regulation requires that customers ‘opt-in’ if they wish to receive overdraft coverage for these types of transactions (one-time debit card and ATM transactions).
‘Opting-In’ doesn’t mean customers will incur more overdrafts – it just means they can have the option in an emergency. If a customer chooses to not ‘opt-in’, Citywide will be required by law to decline their everyday debit card and ATM transactions when thier account balance is insufficient.
Customers can call Citywide Banks Customer Service if they have questions about the ‘opt-in’ rules.
Citywide Banks Customer Service
303-365-3650
 Click here to submit your Overdraft Opt-In Form through this website
Customers will be charged our standard NSF Fee of $33 for each item overdrawn which may be charged for overdrafts created by check, in-person withdrawal, an automatic payment (ACH) transaction, or a recurring debit card payment, or other electronic transaction. Also, if you have requested us to do so, we may authorize and cover ATM transfers or withdrawals and every day debit card transactions.
NSF Fees for overdrafts covered via Bounce Protection Overdraft Privilege are limited to 3 per day and a maximum fee of $99 per day. There is no daily NSF Fee limit for overdraft items returned unpaid or those paid outside of Bounce Protection Overdraft Privilege. NSF Fees are not charged for items that overdraw the account less than $10.00.
You should make every attempt to bring your account to a positive balance as soon as possible, and must do so within 30 days.
Whether an overdraft will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing or you are not making regular deposits or you have too many overdrafts. |
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