Overdraft Disclosure Community Bank of the South

All consumer checking and money market accounts of Community Bank of the South will participate in the Overdraft Shelter Program with the exception of bank employee checking accounts and the Premier Money Market Account. The program is available to individually owned personal and household use accounts that are in good standing. We reserve the right to limit participation to one account per household and lower your Overdraft Shelter limit or discontinue this service at any time. If for any reason you do not wish to participate in the Overdraft Shelter program, please contact a customer service representative at the bank branch most convenient for you, and this feature will be removed from your account.

By contacting a customer service representative you may also apply for the following products to serve as overdraft protection, line of credit, checking, savings or money market accounts (may be subject to credit approval). Once you have set up one of the above mentioned products to cover overdrafts the funds will be transferred in increments of $100.00 based on the availability of funds and a transfer fee of $5.00 will be assessed each time money is transferred. In the event the product you have selected to pay an overdraft does not have the funds available to pay the item(s) presented and you are also a participant in the overdraft shelter program, the balance of the item may be paid through the overdraft shelter program, which would create a $5.00 transfer fee and a $34.00 NSF fee.

An insufficient balance could result in several ways, such as (a) the payment of checks, electronic funds transfers, or other withdrawal request; (b) payments authorized by you; (c) the return of unpaid items deposited by you; (d) the imposition of bank service charges; or (e) the deposit of items which, according to the bank's Funds Availability Policy, are treated as not yet available or finally paid. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds. If you maintain your account in good standing, however, and there are no legal orders outstanding, we may approve your reasonable overdrafts, up to the predetermined amount assigned to your account type, as a non-contractual courtesy. A $34.00 Non-Sufficient Funds charge will be imposed on overdrafts created by check, in person withdrawals, ATM withdrawals or other electronic means as applicable. Checks will be paid from the lowest dollar amount to the highest dollar amount as they are presented each day. A Non-Sufficient Funds charge of $34.00 will be imposed for each item presented that would create an insufficient balance if paid, which may cause more than one overdraft fee of $34.00 to be charged per day. Normally, these fees will be subtracted from the overdraft limit set for your account type.

We may refuse to pay an overdraft for you at any time, even though we may have previously paid your overdrafts. You will be notified by mail of any insufficient funds items paid or returned that you may have; however, we have no obligation to notify you before we return any item. The amount of any overdraft plus our insufficient funds handling charge(s) you owe shall be due and payable upon demand. Failure to pay the balance owed may result in the closing of your account and being reported to a collection agency. If there is an overdraft paid by us on an account with more than one (1) owner on the signature card, each owner, and agent if applicable, shall be jointly and severally liable for any overdraft, plus our insufficient funds handling fee charge(s), and all associated costs of collection. A daily overdraft fee of $1 will be assessed on all accounts overdrawn more than seven (7) consecutive calendar days and will continue to accrue daily until which time the overdraft and associated fees are paid. You can access your Overdraft Shelter limit through any teller, ATM or CheckCard purchase, overdrawing your account up to your overdraft limit even though this limit balance will not be reflected in your ATM or CheckCard balance inquiry.

Overdraft Shelter Limits 

Totally Free Checking $500.00
Ultimate Checking $1,000.00
Fifty Plus Checking $500.00
Money Market $1,000.00
Freedom Checking $500.00
Personal Money Market Plus $1,000.00
Regular Checking $500.00
Interest Checking $500.00