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COMMUNITY OVERDRAFT PROTECTION
ACCOUNTHOLDER OVERDRAFT POLICY

An insufficient balance can occur with the payment of checks, electronic transactions, unpaid items deposited in your account, service charges, or deposit of items which are not yet available according to the banks Funds Availability Policy. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds.

We may approve your overdraft items within your current available Community Overdraft Protection limit as a non-contractual courtesy. The privilege is available for your use if you make deposits that bring your account positive at least once every 30 calendar days, you do not use your Community Overdraft Protection as an ongoing source of funds; and no legal orders have been placed against your account. Your overdrawn balance will include any fees charged against the account.

At account opening, you will have a choice to activate your Community Overdraft Protection. With your consent, we will pay overdraft items for checks, teller window transactions,  ACH transactions, ATM withdrawals, and one time debit card transactions.  A consent form will be provided to you at the time you open your account to authorize this service. You may change your decision at any time. Any electronic balance provided to you during a balance inquiry will not reflect your Community Overdraft Protection limit.

We generally pay electronic transactions first, then teller cashed, and then checks from smallest to largest, per the bank policy. We reserve the right to change the order of payment without notice to you if we suspect fraud or possible illegal activity affecting your account. The payment order of items may create multiple overdraft items during a single banking day. If this occurs, you will be charged an NSF Paid Item Fee of $30.00 for each overdraft item paid. Normally, we will not approve an overdraft for you in excess of the predetermined amount assigned to your account type. Please note that the amount of the overdraft plus the bank’s NSF Paid Item Fee of $30.00 per item will be deducted from the overdraft limit.

Community National Bank will limit the number of NSF fees assessed to five (5) per day. Any item that creates an overdraft balance of less than $5.00 in a checking account will not be assessed a fee.

We may refuse to pay an overdraft item at any time even though we may have previously paid overdrafts for you. An NSF Return Item Fee of $30.00 will be charged for each item returned. You will be notified by mail of any non-sufficient funds items paid or returned that you may have; however, we have no obligation to notify you before we pay or return any item.

Any overdrawn balance, including fees, shall be due and payable upon demand. In the event demand has not been made, you should cover the overdraft within 30 days of its occurrence. If there is an overdraft on an account with more than one owner on the signature card, each owner and agent, if applicable, shall be jointly and severally liable for all overdrafts inclusive of fees. If you decide to not participate in the Community Overdraft Protection program, any overdrawn balance you may have on your account is your responsibility to cover. If you would like to have this service removed, please contact us at 417-235-2265.

LIMITATIONS: Community Overdraft Protection is available to individually/jointly owned and non-corporate accounts. The bank has the authority to limit the privilege to one per customer. Community National Bank reserves the right to limit participation and discontinue this service without prior notice.

Having a shortfall of funds in your checking account at a time when you need it the most can be embarrassing as well as costly.

OVERDRAFT PROTECTION FAQS


What is Community Overdraft Protection?

Community Overdraft Protection is an overdraft privilege service provided to you by Community National Bank. This service provides you with a safety net for unexpected situations or for emergencies when the funds in your checking account are not adequate to cover the transaction. This service helps you reduce the cost incurred from having a check returned to a merchant and preventing a negative impact on your credit history.

As always, we encourage you to manage your finances responsibly. Community Overdraft Protection is not to be viewed as an encouragement to overdraw your account. In order to avoid fees, you should manage your account responsibly by tracking your daily activity and reconcile regularly.


How is Community Overdraft Protection added to my account?

The overdraft privilege will be available on your account to cover checks, ATM, POS, and ACH transactions after a short waiting period. An opt-in consent form is provided to you at the time you open the checking account in order to use this service.  Without your consent, any transactions will be denied if you do not have sufficient funds in the account. You can change your election at any time.


What are you required to do?

By utilizing Community Overdraft Protection, we may approve your overdraft items within your current available overdraft limit as a non-contractual courtesy. For Community Overdraft Protection consideration, the overdraft privilege is available for your use as long as:

  • Deposits are made to your account at least once every 30 days in order to bring your account to a positive balance.
  • Community Overdraft Protection is not being used as an ongoing source of funds.
  • No legal orders have been placed against your account.

Any overdraft transaction that is paid by the bank will be assessed an NSF Paid Item Fee of $30.00. If the item creating the overdraft is returned, you will be assessed a NSF Return Item Fee of $30.00.The amount of the transaction and the assessed fees will reduce the availability of the overdraft privilege. No other fees or interest are assessed on your overdrawn balance. You will be charged a fee for each item that overdraws your account. As an example, three items paid will result is a NSF Paid Item Fee charge of $90.00. Monthly and annual fees charged to your account will be reflected on your monthly statement.

Community National Bank will limit the number of NSF fees assessed to five (5) per day. Any item that creates an overdraft balance of less than $5.00 in a checking account will not be assessed a fee.


What is my Community Overdraft Protection limit?


Community “Free” Checking $300.00
Community Checking/Checking Plus $600.00
Community Gold/Gold Plus $600.00
Community Premium Checking $600.00
Community Business/Plus $600.00


How do I know when I use the overdraft limit?

An overdraft notice is mailed each time items are paid or returned. The notice will identify the transaction type or check number, amount of the transaction, and the NSF fee charged. You should make sure that you subtract any fees charged from your checking account to assist you in balancing.


How quickly must I repay my overdrawn balance?

You should cover the balance overdrawn as soon as possible. If you do not bring your account positive at the end of any day in the first 30 days, your limit will be revoked and will not be available until your overdrawn balance has been resolved. You will receive communication from the bank concerning your overdrawn balance periodically.


Contact from us about the use of the privilege on your account.

Due to regulatory requirements, Community National Bank is required to contact you periodically if you are overdrawn for an extended period of time or using your privilege frequently. This may be in the form of a letter, email, or telephone call. For frequent users, we are required to alert you about the use of the service, and offer alternatives that are available to cover overdrafts. We will also remind you about your right to opt out of the service at any time. If you have any questions or wish to opt out of the service, you can contact us at (417) 235-2265.


What ways am I able to access my Community Overdraft Protection?

Depending on the authorization you have provided to Community National Bank to allow certain transactions to access your privilege, the chart below indicates your access points. All electronic inquiries about your balance will not reflect your overdraft privilege limit.

Access Points

  • Teller
    Is my Overdraft Privilege available?  Yes
    Does the Balance provided reflect my overdraft privilege Limit?  No
  • Writing a Check
    Is my Overdraft Privilege available?  Yes
    Does the Balance provided reflect my overdraft privilege Limit?  N/A
  • Debit Card/Point of Sale
    Is my Overdraft Privilege available?  Yes
    Does the Balance provided reflect my overdraft privilege Limit?  N/A
  • ATM Withdrawal
    Is my Overdraft Privilege available?  Yes
    Does the Balance provided reflect my overdraft privilege Limit?  No
  • ACH-Auto Debit
    Is my Overdraft Privilege available?  Yes
    Does the Balance provided reflect my overdraft privilege Limit?  N/A
  • Preauthorized internal debits
    Is my Overdraft Privilege available?  Yes
    Does the Balance provided reflect my overdraft privilege Limit?  N/A
  • Loan Payments
    Is my Overdraft Privilege available?  Yes
    Does the Balance provided reflect my overdraft privilege Limit?  N/A
  • Online Banking
    Is my Overdraft Privilege available?  Yes
    Does the Balance provided reflect my overdraft privilege Limit?  No
  • Telephone Banking
    Is my Overdraft Privilege available?  Yes
    Does the Balance provided reflect my overdraft privilege Limit?  No


What are some other ways I can cover overdrafts at Community National Bank?

In order to avoid fees, manage your account responsibly by tracking your daily activity and reconcile regularly. Below are other options to cover overdrafts in addition to using Community Overdraft Protection.

Good Account management **Example of Associated Fees: $0
Link to Savings Account **Example of Associated Fees:$0
Community Overdraft Protection **Example of Associated Fees: $30.00 per
     NSF Paid Item fee of $30.00 for each item

**These costs are provided only as examples. Please ask us about our specific products and fees.


What can I do if I do not want this service?

To completely remove your account from this service, please contact us at (417) 235-2265. Please note that any items that overdraw your account will be returned and a NSF Return Item Fee of $30.00 will be assessed.


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