Cumberland Bank & Trust - A customer service-oriented community bank, serving Montgomery County & Clarksville, Tennessee.

Overdraft Item and Returned Item Fee Disclosures

You may be charged a fee of $30.00 for each Overdraft Item or Returned Item created by check, in-person withdrawal, ACH or other electronic means.

 
When you do not have enough available funds in your account to cover a check or other item, the check or other item is considered an insufficient funds item. Without notice to you, we may either pay the insufficient funds item and overdraw your account (an Overdraft Item) or we may decline or return the insufficient funds item without payment (a Returned Item). “Overdraw your account” means that the balance in your account becomes a negative account balance (a balance that is below zero).

We pay Overdraft Items solely at our discretion, which means we do not guarantee that we will always, or ever, authorize and pay them. If we pay an overdraft item or items that cause your account to be overdrawn on one or more occasions, that does not mean that we are obligated to continue paying future insufficient funds items. We may pay all, some, or none of your Overdraft Items, without advance or prior notice to you. If we do not authorize and pay an overdraft, then we decline or return the transaction unpaid (a Returned Item).

The fee for an Overdraft Item or Returned Item is $30 per item. This includes Overdraft or Returned Items created by check, in person withdrawal, ACH or other electronic means. This excludes ATM withdrawals or one time debit card transactions that may create an overdraft. We will allow you one Overdraft or Returned Item with no charge in each statement cycle. We will never charge you for more than four Overdraft or Returned Items in one business day (a day the bank is open for business excluding Saturday, Sunday, and holidays).

You can avoid paying fees for overdraft or returned items by being sure that you always have adequate funds in your account to cover all of your transactions. You can enroll in free Online Banking, Mobile Banking or use our 24 hour telephone banking access to keep track of your account balance.

You may also avoid Overdraft and Returned Item fees by maintaining a sweep account feature that will automatically transfer funds from another account in our bank or by establishing a line of credit with us. (Lines of credit are subject to approval and savings or money market accounts have a limitation on the number of times you may sweep funds from them into another account.)