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Overdraft
Protection guards a customer against returned checks
and overdraft charges. Citizens offers two
different ways for our customers to protect
themselves.
- The funds will
be advanced from a savings or another deposit
account in $100.00 increments.
- A line of credit
can be established called "Goldline" and be linked
to a checking account and swept in $250.00
increments.
PROTECTION FROM TRANSFER
When a customer
selects Overdraft Protection from Transfer, their
overdrafts will be covered by transferring funds
from their savings account or another deposit
account into the primary checking account in $100.00
increments. The fee is $5.00 per transfer. If the
secondary account has less than $100.00 the funds
will not be transferred. A notice will be sent when
a transfer is made and will also appear on the
monthly statement.
PROTECTION FROM GOLDLINE
Goldline is a
separate line of credit that can be linked to a
customer's checking account. Funds can be swept in
$250.00 increments into a checking account to cover
overdrafts. The annual fee is $20.00 and the
interest rate is indexed to New York Prime. The
customer pays interest only on the amount
transferred and the amount can be repaid monthly or
quarterly. (Line of credit is subject to credit
approval.)
For more
information contact a Customer Service
representative at the Main Office or at any Branch
Location. |
