Courtesy Limit

What You Need to Know about Overdrafts and Overdraft Fees
Effective July 1, 2010 for New Consumer Checking Accounts
Effective August 15, 2010 for Existing Consumer Checking Accounts

What is an overdraft and how does it occur?

An overdraft occurs when you do not have enough money in your checking account to cover a transaction, but we pay it anyway.
We can cover your overdrafts in three different ways: 

1. We have a standard overdraft practice (Courtesy Limit) that comes with your account. 
2. We offer an enhanced overdraft practice (Courtesy Limit Plus) that is available upon request. 
3. We also offer overdraft protection plans, which include (credit‐based) ChexMate Overdraft Line of Credit and our Optimum Sweep Agreement which is a link between Optimum Money Market and Optimum Checking. To learn more, ask us about these plans.
   

This notice explains our standard and enhanced overdraft practices.

Standard with your account:

Through Courtesy Limit, we do authorize and pay overdrafts for the following types of transactions:

• Checks
• Other transactions made using your checking account number (for example, preauthorized recurring payments, such as monthly utilities, club dues, etc.)

Under this standard practice, we do not authorize or pay the following types of transactions:

• Everyday debit card transactions 
• ATM withdrawals
  

Enhanced overdraft practice available upon request:

Through Courtesy Limit Plus, we do authorize and pay overdrafts for the following types of transactions but only if you notify us to enroll your account in Courtesy Limit Plus: 

• Everyday debit card transactions (ATM withdrawals are excluded from Courtesy Limit Plus coverage)
  

Please note that overdrafts are paid 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 Canandaigua National Bank & Trust pays my overdraft?

The fee of $32 remains unchanged and will be charged each time we pay an overdraft. We do not have a daily limit on the number of transactions we will pay on your behalf that are presented against insufficient funds. Therefore, as this is a per transaction fee, there is no limit on the total fees we can charge you for overdrawing your account.

How can I enroll in Courtesy Limit Plus allowing Canandaigua National Bank & Trust (CNB) to authorize and pay overdrafts on my everyday debit card transactions?

Call (800)724‐2621 or (585) 394‐4260, OR send us a message within online banking at www.cnbank.com, OR visit your local CNB Community Bank Office.

What do I need to know about my Courtesy Limit Plus enrollment decision?

• If you have already notified us of your Courtesy Limit Plus enrollment decision, no further communication is necessary. 
• For existing checking accounts, enhanced overdraft services for your checking account will cease on August 15, 2010 if you have not notified us that you would like to be enrolled in Courtesy Limit Plus to pay overdrafts on everyday debit card transactions. 
• If you have not notified us by August 15, you risk having your purchase denied at the point of sale for debit card transactions presented against insufficient funds.

 Also See: ChexMate Overdraft Protection