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Frequently Asked Questions: Overdrafts

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Popular Questions:
  • When can I see direct deposits in my account?

    Direct deposits will initially display on the My Accounts page of Online Banking when they come in to your account during the day. That evening, once the transaction is posted to your account the name is updated to show the respective payer of the transaction (for example: Acme Co. Payroll).

  • What should I do if my account becomes overdrawn?

    If your account becomes overdrawn, you should deposit money into your account as soon as possible. The amount you deposit must be sufficient to cover the overdraft plus any fees that have been assessed or may be assessed prior to your deposit becoming available. By depositing enough money to bring your account positive you will avoid further fees from being assessed.

  • What is Citizens Bank's Overdraft Fee?

    Overdraft Fees apply if you overdraw your account, don’t have the necessary Available Balance at the end of the day and we pay the transaction on your behalf. You will be charged an Overdraft Fee for each item paid. There is no fee for ATM withdrawals and everyday debit card transactions that are declined.


    Overdraft Fee:

    $35 per item paid


    We will limit to 7 the combined number of these Overdraft Fees and/or Returned Item Fees charged on any one day, up to a total of $245. If your account remains overdrawn for 4 consecutive business days, on the 5th business day we will charge a Sustained Overdraft Fee of $30. An additional $30 fee will be charged on the 8th business day if your account remains overdrawn for 7 consecutive business days, and on the 11th business day if your account remains overdrawn for 10 consecutive business days, up to a total of $90. Fee is waived for Private Checking with Interest and Private Money Market accounts.

  • How can I enroll in Debit Card Overdraft Coverage?
    You can enroll or unenroll in Debit Card Overdraft Coverage at any time over the phone by calling 1-800-922-9999 or at your local branch. Your decision is effective immediately once recorded.
  • How much does it cost to have Savings Overdraft Transfer?

    You only pay for Savings Overdraft Transfer if you use it. There is a $12 Transfer Fee per day for each day a transfer(s) occurs. There is no Transfer Fee on any day on which all transfers are for overdraft items $5 or less - $5 Overdraft Pass®

  • How much does it cost to have an Overdraft Line of Credit?
    There is a $30 Annual Fee plus a $12 Transfer Fee per day for each day a transfer(s) occurs. There is no Transfer Fee on any day on which all transfers are for overdraft items $5 or less - $5 Overdraft Pass®. The Annual Percentage Rate (APR) for an Overdraft Line of Credit is 21% on the outstanding loan balance.
  • When can I see direct deposits in my account?

    Direct deposits will initially display on the My Accounts page of Online Banking when they come in to your account during the day. That evening, once the transaction is posted to your account the name is updated to show the respective payer of the transaction (for example: Acme Co. Payroll).

  • How do business days affect my account?

    At Citizens you can bank every day of the week; however certain activities, like deposits, are only processed on business days. A business day is any day other than a Saturday, Sunday or legal holiday (if the holiday falls on a weekend, the holiday is considered to be the following Monday).

    For example: Maria makes a deposit on Saturday. The deposit is considered made on the next business day, which is Monday. If Monday is a legal holiday (such as Memorial Day) then the deposit is considered made on Tuesday. Maria's funds will be available based on Citizens Funds Availability Policy from the business day the deposit is considered made.

  • What should I do if my account becomes overdrawn?

    If your account becomes overdrawn, you should deposit money into your account as soon as possible. The amount you deposit must be sufficient to cover the overdraft plus any fees that have been assessed or may be assessed prior to your deposit becoming available. By depositing enough money to bring your account positive you will avoid further fees from being assessed.

  • What happens if my account remains overdrawn?
    • If your account remains overdrawn for 4 consecutive business days, on the 5th business day we will charge a Sustained Overdraft Fee of $30. An additional $30 fee will be charged on the 8th business day if your account remains overdrawn for 7 consecutive business days, and on the 11th business day if your account remains overdrawn for 10 consecutive business days, up to a total of $90. Fee is waived for Private Checking with Interest and Private Money Market accounts.
    • We may also transfer funds from your other accounts to cover the overdraft.
    • Your account will be forwarded to our collections department, which will contact you to ensure that you are aware of the overdraft and to discuss ways to bring the account positive.
    • Finally, if the account has not been brought back to positive within 60 calendar days, the account will be closed and you may be reported to ChexSystems, a national clearinghouse of check writing information. This may impair your ability to open a checking account elsewhere.
  • What is Citizens Bank's Overdraft Fee?

    Overdraft Fees apply if you overdraw your account, don’t have the necessary Available Balance at the end of the day and we pay the transaction on your behalf. You will be charged an Overdraft Fee for each item paid. There is no fee for ATM withdrawals and everyday debit card transactions that are declined.


    Overdraft Fee:

    $35 per item paid


    We will limit to 7 the combined number of these Overdraft Fees and/or Returned Item Fees charged on any one day, up to a total of $245. If your account remains overdrawn for 4 consecutive business days, on the 5th business day we will charge a Sustained Overdraft Fee of $30. An additional $30 fee will be charged on the 8th business day if your account remains overdrawn for 7 consecutive business days, and on the 11th business day if your account remains overdrawn for 10 consecutive business days, up to a total of $90. Fee is waived for Private Checking with Interest and Private Money Market accounts.

  • What are Overdraft Plans?

    Overdraft Plans automatically transfer funds to your checking account before it is overdrawn.

    • Savings Overdraft Transfer - automatically transfer funds from a linked savings account.
    • Overdraft Line of Credit - automatically transfers funds from a linked line of credit.
  • What accounts are eligible for Savings Overdraft Transfer?
    Savings Overdraft Transfer can be linked to most Citizens Bank personal checking accounts. Ask your banker for eligible accounts.
  • How much does it cost to have Savings Overdraft Transfer?

    You only pay for Savings Overdraft Transfer if you use it. There is a $12 Transfer Fee per day for each day a transfer(s) occurs. There is no Transfer Fee on any day on which all transfers are for overdraft items $5 or less - $5 Overdraft Pass®

  • Is there a limit to how many transfers can be made from my savings to my checking as part of Savings Overdraft Transfer?
    We do not limit the number of overdraft plan transfers that can be made from your account monthly. However, Federal regulations do limit the number of certain types of transactions from savings accounts to no more than six per calendar month. Savings Overdraft Transfer Plan transfers are included in the six transfers and pre-authorized debits permitted. If you exceed these limits three or more times during any 12-month period, we will change your savings account to a non-interest account that does not limit withdrawals. If your account is changed based on excessive transaction activity, the use of this account to provide overdraft plan transfers will continue uninterrupted. Please refer to your Deposit Account Agreement for more details.
  • What accounts are eligible for an Overdraft Line of Credit?
    An Overdraft Line of Credit can be linked to most Citizens Bank personal checking accounts. Ask your banker for eligible accounts.
  • How much does it cost to have an Overdraft Line of Credit?
    There is a $30 Annual Fee plus a $12 Transfer Fee per day for each day a transfer(s) occurs. There is no Transfer Fee on any day on which all transfers are for overdraft items $5 or less - $5 Overdraft Pass®. The Annual Percentage Rate (APR) for an Overdraft Line of Credit is 21% on the outstanding loan balance.
  • Is there a limit to how many transfers can be made from my Overdraft Line of Credit to my checking?
    No, we do not limit number of overdraft plan transfers that can be made from your overdraft line.

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