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Overdraft Protection Services
Unexpected overdrafts happen from time to time. We have you covered when they do.
What is an overdraft?
An overdraft occurs when a transaction is paid and there is not enough money available in your account to cover the withdrawal.
Standard Overdraft Protection
Standard Overdraft Protection is a feature of qualifying checking accounts and does not require you to enroll. Standard Overdraft Protection will cover the following transactions:
- Checks
- ACH-automatic debits
- Automatic bill payments
If Cinfed does not authorize and pay an overdraft, your transaction will be declined. Please note: debit card transactions are not covered under the Standard Overdraft program.
Debit Overdraft Protection Program
The Debit Overdraft Protection Program offers additional coverage for everyday debit card transactions.*
The program allows checks and other items that would overdraw your account to be paid, for a fee, rather than returned for non-sufficient funds. By opting in to the Debit Overdraft Protection Program, your debit card transactions will be approved even if the funds are not currently available in your account. This added coverage can be useful in case of an emergency or unforeseen expense. This service is provided at no cost to you, but you must register for it.
Fees
The only time you will pay a fee is when you use the service. An overdraft fee of $18.00 will be charged for each transaction that overdraws your account. Once the account reaches overdrawn status, if not cleared up within 7 days, an account overdrawn fee will be charged. If account remains overdrawn for 30 days, there may be collection proceedings. If account is still overdrawn after 45 days, the account may be closed and any future requests for services may be limited. There is no limit to the number of times items may overdraw the account. Multiple fees will be charged if multiple overdrafts occur on the same day.
*Overdrafts are paid at our discretion; we do not guarantee that we will always authorize and pay any type of transaction. For example, we will not allow you to overdraw your account via ATM withdraw. For questions, please contact our Member Services Department at 513-333-3800.