Tools to Help Avoid Overdrafts

LINK TO A SAVINGS OR MONEY MARKET ACCOUNT

(Personal and business accounts)

When you link a savings or money market deposit account to your checking account, the Bank will automatically transfer funds from your savings or money market account to your checking account when your checking account has a negative balance. It’s called the Overdraft Transfer Service and costs $5 per day that this transfer service is utilized. Money is transferred from your savings or money market account in increments of $25 until the balance in the checking account is above $0. The Overdraft Transfer Service fee does not apply to Premier5 Banking accounts.

(Personal accounts only)

You can borrow money from the Bank if you overdraw your account to ensure your checking balance stays positive. With an Overdraft Protection Line of Credit, you pay interest instead of a transfer fee. There is an application process for this loan. If you are approved, when your checking account has a negative balance, money is automatically transferred from the overdraft line of credit in increments of $50 until the balance in the checking account is above $0 or until the credit limit is reached. Since this is a loan, you will be charged interest and must make monthly payments on the outstanding balance.

(Personal and business accounts)

Sometimes avoiding overdrafts is as easy as knowing your account balance. Cape Cod 5 has several ways to monitor your balance. As you review your balance, remember bill payments and automated payment deductions you have set up, checks you have written and any other debits that might not have been subtracted yet from your account.

ONLINE AND MOBILE BANKING

Check balances and activity frequently through Online and Mobile Banking. Set up balance alerts or log in to get up-to-date information about your account.

TELEPHONE BANKING

Call 888-333-0555 to hear your account balances and review any recent transactions.

Please visit capecodfive.com/overdrafteducation. If you are looking for information about managing a budget visit My Budget tool at capecodfive.com/my-budget.

LINK TO A LINE OF CREDIT

KNOW YOUR BALANCE

MORE INFORMATION

Need help? We’re here for you.

If you have any questions or need assistance, please call our Customer Service Center at 888-225-4636, use the secure Messages conversations service in Mobile and Online Banking, or visit any Cape Cod 5 Banking Center.