A Discretionary Overdraft Service 

It is the policy of our Bank to comply with applicable laws and regulations, and to conduct business in accordance with applicable safety and soundness standards.

A non-sufficient funds (negative) balance may result from: a) the payment of checks or other withdrawal requests; b) electronic funds transfers (subject to Regulation E Opt-In requirements); c) payments authorized by you; d) the return, unpaid, of items deposited by you; e) the imposition of bank service charges; or f) the deposit items which according to the Bank’s Funds Availability Policy, are treated as not yet available or finally paid.

We are not obligated to pay any item presented for payment if your account does not contain sufficient collected funds. Rather than automatically returning, unpaid, any non-sufficient funds items that you may have, if your eligible account (primarily used for personal and household purposes) is maintained in good standing, which includes at least: a) continuing to make deposits consistent with your past practices, and depositing at least $300 or more of non-cash deposits in your account within each thirty (30) day period, b) you are not in default on any loan obligation to Cornerstone Bank, c) you bring your account to a positive balance (not overdrawn) at least once every thirty (30) days, and d) your account is not the subject of any legal or administrative order or levy, we will consider, as a discretionary courtesy or service* and not a right or obligation, approving your reasonable overdrafts. This discretionary service* will be limited to a $300 overdraft (negative) balance. Of course, any and all bank fees and charges, including our non-sufficient funds/overdraft fees ($30.00 per item, up to a maximum of $180.00 per day) will be included in this limit. If your account balance is overdrawn (negative) by $5.00 or less, Cornerstone Bank will not assess a non-sufficient funds/overdraft fee. We pay items presented for payment on your account in the following order: Debit Card/ATM transactions (subject to Regulation E Opt-In requirements), checks (in check number order), then ACH debits.

We may refuse to pay an overdraft for you at any time, even though your account is in good standing and even though we may have previously paid overdrafts for you. 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. The amount of any overdrafts plus our non-sufficient funds and/or overdraft (NSF/OD) charge(s) that you owe us shall be due and payable upon demand. If there is an overdraft paid by us on an account with more than one (1) owner on the signature card, each owner, and agent if applicable, drawing/presenting the item creating the overdraft, shall be jointly and severally liable for such overdrafts plus our non-sufficient funds and/or overdraft (NSF/OD) charge(s).

LIMITATIONS: Available only to eligible personal checking accounts primarily used for personal and household purposes (the ineligible account types are business accounts, Money Market accounts (including HiFi accounts, executive officers and directors of the Bank) and we may limit the number of accounts eligible for Overdraft Service* to one (1) account per household.

*The Overdraft Privilege Service does not constitute an actual or implied agreement between you and the Bank, nor does it constitute an actual or implied obligation of or by the Bank. This service represents a purely discretionary courtesy or privilege that the Bank may provide to you from time to time and which may be withdrawn or withheld by the Bank at any time without prior notice or reason or cause.

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