Standard Overdraft Practices
Learn about Standard Overdraft Practices
An overdraft occurs when there are not enough funds in your account to cover a transaction and your bank still pays the transaction on your behalf.
According to our Standard Overdraft Practices*, Citizens Bank may, at our discretion, authorize and pay overdrafts for the following types of transactions when you do not have adequate funds in your account:
- Checks and other transactions made using your checking account number
- Automatic bill payments
However, we may not authorize and pay overdrafts for the following types of transactions unless you authorize us to do so by opting in:
- ATM transactions
- Everyday debit card transactions
Opting-in to Standard Overdraft Practices
If you wish to include your ATM and everyday debit card transactions in the Standard Overdraft Practices on your account, you will need to opt-in. By opting-in to Standard Overdraft Practices:
- It may provide additional funds when an unexpected expense comes up and there are no funds available in your account.
- It may allow you access to your funds in advance of a deposit becoming available later the same business day.
- Overdraft fees only apply when the bank pays an overdraft on your behalf.
If you prefer that the bank does not pay ATM and debit card transaction overdrafts, you should not opt in to Standard Overdraft practices. If you use your debit card for everyday purchases (for example, buying groceries) or ATM transactions, but do not have sufficient funds available in your account, your transaction will be declined.
Helpful ways to manage your overdrafts
Citizens Bank offers overdraft protection options, like Overdraft Protection Line of Credit or Savings Overdraft Protection. If you have more questions about overdraft fee regulations please speak with a Citizens Bank representative at 1-877-360-2472 or refer to our FAQ on Standard Overdraft Practices.
Helpful tools to manage your finances: