CNB's newest level of protecting your Personal Checking Account
- Avoid Embarrassment and Inconvenience.
- No Application or Credit Check
- Not a line of Credit
What is Courtesy Limit?
Courtesy Limit is a unique program for your checking account that allows transactions to be paid when the amount of the transaction exceeds the balance in your account.
This means that instead of your transaction being declined, the bank will authorize your transaction, saving you embarrassment and inconvenience - as well as any additional fees charged by a merchant for returned payments! Courtesy Limit offers flexibility and convenience in managing account funds and provides peace-of-mind knowing your transaction will be paid up to the limit.
How does Courtesy Limit work?
This is a transaction-based program; it is not credit based, so there is no credit application or credit report necessary to be eligible for this program. Every checking account meeting the eligibility criteria will have a Courtesy Limit of $300. These funds will cover transactions presented even if your account is overdrawn, that is, has a negative balance, up to this limit. For each transaction that utilizes this program, a $32 Overdraft Fee will be assessed. Repayment is simple! Subsequent deposits to your checking account will serve to raise the balance, and will thereby repay the overdraft and fee.
How will I know if I have accessed my Courtesy Limit?
If you have accessed your Courtesy Limit, the bank will send you a notice asking you to make a deposit to cover the overdraft, the fee, and any other outstanding items on the account. The overdraft and associated fee will appear on your periodic statement and your Online Banking register.
How does my checking account become eligible for Courtesy Limit?
Initially, your account will be automatically enrolled in this program if all of the following criteria are met:
- Account has had a positive balance for a minimum of 90 days.
- Account has gone 14 consecutive days without incurring an insufficient funds charge.
- Account deposits over the previous 31 days have totaled $300 or more.
- Loans for any account owner are not currently 30 days or more past due.
If your account has not met the requirements for Courtesy Limit, your account will be reevaluated on a daily basis and may subsequently become eligible.
Even if your account is initially enrolled in this program, it may no longer be eligible under either of the following criteria:
- Account has remained overdrawn more than 31 consecutive days (that is, you have not deposited enough funds into the account to bring it to a positive balance within 31 days).
- Loans for any account owner become 30 days or more past due.
The account may be re-enrolled when the above eligibility criteria are met.
What if I already have other forms of overdraft protection on my account?
If you already have a ChexMate Overdraft Line of Credit or Sweep Arrangement on your account, these will be accessed first. It is only in the event that your other overdraft options have been fully utilized that Courtesy Limit will be accessed.
When will Courtesy Limit be available on my account?
If your account meets the criteria set forth above, Courtesy Limit will be available to you beginning October 1, 2009.
What if I do not want Courtesy Limit?
Any checking account owner may opt out of this service at any time by requesting that Courtesy Limit not be made available by:
- contacting our Customer Call Center at 585-394-4260 or 800-724-2621;
- contacting your Bank Office Representative; or
- sending us a message within Online Banking.
Once an owner has opted out of this service, it can only be reinstated by the owner who originally indicated their preference to decline the service.
Additional Information
Courtesy Limit is provided by the bank to pay overdrafts initiated by check, ACH/electronic check, or Point of Sale purchases with your debit or ATM card. ATM, cash withdrawals, online banking transfers, and cash advances made with your debit card are not covered by this program. Courtesy Limit is not credit based, and is not a loan. CNB reserves the right to discontinue the program or remove any account from this program at any time.