Going the extra mile
So you’ve got an account with us, huh?
Now here’s the icing on the cake – you’ve also got access to an assortment of additional services to ensure all your banking bases are covered.
Need-to-know account information is just a call away. Monitor account balances, transfer funds, verify recent transactions, make loan payments and more simply by calling 1.866.529.8600 from any touch-tone telephone - 24 hours a day, seven days a week.
Skip an extra trip to the bank each payday and save yourself some time. With direct deposit, you can arrange to have your paycheck, government check or any other regularly scheduled check automatically deposited directly into a CharterBank account at no extra charge.
Make personal or business deposits when the bank is closed at one of our secure 24-hour depositories. Once deposits are verified, a receipt will be mailed to you. For additional convenience, businesses can use a night drop bag with lock and key, with the option of picking up any temporary deposits the following morning or business day.
From Grandma’s silver to confidential paperwork, our safe deposit boxes are a safe place to store your valuables until they are needed.
It is important for you to use your checking account responsibly. However, we realize that financial shortfalls happen from time to time and we have options available for you. As a benefit to our customers, we offer these useful services to cover you in the event you inadvertently overdraw your checking account. We provide you with our Discretionary Overdraft Privilege and Alternative Overdraft Protection Options to help you in a bind. The following will take you through a four step process in understanding Overdraft Protection at CharterBank.
There are many ways to prevent overdrafts from occurring. The best method is to keep track of your account balances.
- Use CharterBank's Mobile Banking and Online Banking to frequently view your account balances
- Set balance threshold alerts to notify you daily by email or text
- Transfer funds using your phone, no matter where you are, with CharterBank's Mobile Banking
- Set up automatic deposits to ensure that funds are promptly deposited into your accounts. Create an email or text alert to receive confirmation of the deposit
- Record your activity in your checkbook register and review monthly account statements.
Discretionary Overdraft Privilege
We want to save you the embarrassment of returned items against your checking account. At our discretion, we will strive to pay any non-sufficient fund items, which may be presented against your account instead of returning the item unpaid. This discretionary Overdraft Privilege is under no obligation to pay items when your account has non-sufficient funds. There is no credit approval required, no annual fee and you are automatically enrolled in this coverage. Customers must opt-in to our Discretionary Overdraft Privilege Plus if they want their everyday check card and ATM transactions covered under this product. For each overdraft, a non-sufficient fee of $28.95 per item will be assessed to the account (maximum of 5 insufficient fund fees per day).
Deposit Account to Deposit Account Transfer
Arrangements can be made to automatically transfer funds from one of your deposit accounts with our institution to an account that has a NSF item transaction for a transfer fee of $10.00 per transfer. This service must be set up in advance of a NSF item transaction. Please speak to your customer service representative about designating which accounts you would like transfers to come to and from. Regardless of the number of insufficient items, only one transfer fee will be assessed per day. There is no annual fee for the service nor credit approval.
Line of Credit
An overdraft line of credit requires a contractual loan agreement to be signed and is available to qualifying account holders. NSF items are covered up to the value of the line of credit. Interest is charged on the outstanding balance of the line of credit. Payments of interest and outstanding principal are required to be made monthly. Credit approval is required for a personal line of credit and other fees may apply. For more information and to apply, contact a customer service representative at 800.763.4444, or visit any of our branch locations.
Quick answers to common overdraft protection questions
How will it benefit me?
We hope these services help you understand how we make overdraft payment decisions and that you will manage your finances carefully. In the event something unexpected happens where your account does not have the available funds to cover your checks, ATM withdrawals, debit card transactions, preauthorized automatic debits, telephone-initiated transfers or other electronic transactions, our services may help you avoid the embarrassment and costs of returned items.
Are my ATM and everyday Debit Card transactions included in the Discretionary Overdraft Privilege Service?
We must have your authorization on file before setting up the service for ATM and everyday Debit Card transactions. There is no additional charge to activate service for your ATM and everyday Debit Card transactions. Please call us at 800.763.4444 or visit a local CharterBank branch today.
Is your Discretionary Overdraft Privilege Service a line of credit or loan?
Our Discretionary Overdraft Privilege Service is not a line of credit or a loan. As a non-contractual courtesy, we will strive to pay your overdrafts based on your account performance, which includes your past deposit history, the age of your account and how quickly you have repaid any overdrawn items in the past. This service may be withdrawn at any time.
Do I have to apply for Discretionary Overdraft Privilege Service?
No. Your checking account is automatically enrolled into this service, but you can opt-out at any time.
What do I have to do when I have a NSF item?
If you overdraw your account and we choose to cover your overdraft, the transaction will take place automatically. Account holders should not become dependent on this policy to meet short-term cash needs.
How will I know I am overdrawn?
We will mail you a letter to notify you each time there is a non-sufficient fund item processed on your account. To help manage your account, you can choose to receive email or text message alerts when your account drops below a certain balance. Log into internet banking at www.charterbank.net to set up your account alerts. The alerts are located under the Additional Services tab.
How quickly do I have to deposit funds to cover an overdraft?
Your deposit account agreement states that you are required to deposit funds immediately to cover any overdrafts. If your account has a negative balance for more than 60 days, and you do not contact us or deposit funds, your account will be closed and reported to a consumer reporting agency and/or collection agency.
Can I opt-out of the Discretionary Overdraft Privilege Plus Service for my ATM and everyday Debit Card transactions at any time?
Yes, if you do not wish to have your ATM and everyday Debit Card purchases included under this policy and would prefer to have these types of non-sufficient fund items returned and/or denied, please call 800.763.4444.
Can I opt-out of the Discretionary Overdraft Privilege Service for all NSF transactions?
Yes, if you do not wish to have any of your NSF items paid under this policy and would prefer to have all of your non-sufficient fund items returned and/or denied, please call 800.763.4444. Please note that your account will be assessed a fee of $28.95 for each NSF item presented on your account regardless of whether it is paid or returned.
Discretionary Overdraft Privilege
You're account is already qualified for this service unless you ask us not to pay your overdrafts. No enrollment is required
Discretionary Overdraft Privilege Plus
You must sign up to receive this service to cover your ATM and One-Time Debit transactions. Give us a call at 1.800.763.4444 or stop by your local CharterBank Branch to enroll
Overdraft Transfer Protection and Line of Credit
Call us at 1.800.763.4444 or visit your local CharterBank Branch to sign up or apply for these products
Securely send cash from point A to point B – fast! Contact a Customer Service Representative today or visit one of our branch locations to inquire about our wire transfer services
*Before calling our FirstLine number you need a PIN so please call us at 800.763.4444. Pre-authorized, automatic, telephone or CharterBank Online Banking transfers from Statement Savings and Money Markets accounts are limited to six per statement cycle.