Courtesy Overdraft Services
Understanding Courtesy Overdraft Services
We get it—life happens, and sometimes your timing’s just off. Maybe your paycheck’s a day late, or you forgot about that automatic payment. That’s why we offer two Courtesy Overdraft service options. Whether you need a little flexibility, our options are designed to work with your real life, not against it.
Basic Courtesy Overdraft
- We may, at our discretion, cover your checks, bill payments, and automatic debits when your balance runs low
- $30 per covered item
- No fees for items $5 or less, or if your end-of-day balance is only $10 overdrawn
- Capped at four fees per day for personal accounts
With Courtesy Overdraft Plus…
- Easy to enroll—just call us, stop by a branch, or sign up through online banking
- With active enrollment, cover your ATM withdrawals and one-time debit card purchases when you’re running low
- Same $30 fee per covered item with the same daily limits as Basic coverage
Please refer to our Non-Sufficient Funds and Overdraft Services Terms & Conditions for more information on our Courtesy Overdraft Program.
Your Overdraft Questions, Answered
Got questions about how our overdraft protection works? We’ve got answers. Here’s what Cape Codders ask us most about staying covered when funds run low.
What is Courtesy Overdraft Service?
Courtesy Overdraft Service is designed to help when your account doesn’t have enough money to cover a transaction. If you’re eligible, we may choose to pay certain transactions instead of declining or returning them unpaid. Your account will be overdrawn, and applicable fees may apply. To have eligible ATM withdrawals and one-time debit card purchases considered for payment through Courtesy Overdraft Plus, you’ll need to opt in to that service.
How much does the Courtesy Overdraft Service cost?
If we pay a transaction through Courtesy Overdraft Service, the fee is $30 per covered item. We don’t charge a fee for overdraft items of $5 or less, or when your account balance is overdrawn by $10 or less at the end of the day. For personal accounts, we’ll charge no more than four overdraft fees per day.
What’s the difference between Basic and Plus?
Basic Courtesy Overdraft Service is automatically available for eligible checking accounts and may, at our discretion, cover checks, bill payments and automatic debits when there aren’t enough funds in your account. Courtesy Overdraft Plus adds the option for us to pay eligible ATM withdrawals and one-time debit card purchases, but you’ll need to opt in before this service is available. You can also opt out of either service at any time. Choose the option that works best for your needs.
How do I enroll in the Courtesy Overdraft Service?
Basic Courtesy Overdraft Service is automatically available with eligible checking accounts. To add Courtesy Overdraft Plus, just give us a call at 508–568–3400, visit any branch, or send a written request to: Cape & Coast Bank, Attn: Courtesy Overdraft, 25 Benjamin Franklin Way, Hyannis, MA 02601. We’ll process your request within two business days—it’s that simple.
What is Courtesy Overdraft Sweep?
It’s our favorite feature! We can automatically move money from your savings or another account to cover overdrafts. Every sweep is free! We love helping you save money. Stop by a branch to enroll.
Can I opt out if I change my mind?
Absolutely. You’re always in control. You can opt out of Courtesy Overdraft Plus or all overdraft services by calling our Customer Assistance Center, visiting a branch, or sending a written request.1 No questions asked.
How quickly do I have to deposit funds to cover an overdraft?
You’ll need to deposit funds immediately to cover an overdraft, so your account stays up to date and in good standing.
When are accounts eligible for Courtesy Overdraft Service?
Not all account types are eligible for Courtesy Overdraft Service. Fiduciary accounts, savings accounts, and money market accounts are not eligible to participate in Basic Courtesy Overdraft or Courtesy Overdraft Plus.
For eligible checking accounts, whether your overdrafts will be paid is discretionary. We generally consider whether an account meets certain ongoing criteria before Courtesy Overdraft Service may be available. These criteria may change over time and may include:
- How long the account has been open
- Deposit activity in the account and any related accounts
- Overdraft activity in the account and any related accounts
- The status of any loan or other obligation with us
- Whether there are any legal or administrative orders or levies on the account
1 Even if you have opted out of Courtesy Overdraft services for all transactions, there are circumstances in which an item may still be paid and overdraw your account. Your account could be overdrawn where a payment of an item would cause your end-of-day balance to be overdrawn by $10 or less, if the item presented for payment is $5 or less, or if our systems are operating offline due to causes beyond our reasonable control. If any of these circumstances occurs, you will not be charged an Overdraft Fee, however you will still be obligated to cover the overdraft. Additionally, if an item being presented for payment is a recurring charge that you established using your debit card with a merchant (a recurring charge is a charge that occurs on a regular schedule that is initiated by a merchant, such as a gym membership or a subscription), we are unable to return a recurring charge for non-sufficient funds. This means that we must pay the recurring charge even if it overdraws your account and you will be charged an Overdraft Fee.
Please refer to our Non-Sufficient Funds and Overdraft Services Terms & Conditions for more information on our Courtesy Overdraft Program and Courtesy Overdraft Sweep service.
Enroll in Courtesy Overdraft Plus Service
Life happens, and that’s okay. Enroll in Courtesy Overdraft Plus, an optional service available for eligible accounts that may allow certain transactions to be processed when sufficient funds are not available.
Tools to Help You Stay on Track
Getting Started Is Simple
Enrolling in Courtesy Overdraft Service is quick and easy. Just follow these three steps to select the option that works best for you.
