hands over a pink piggy bank and a stack of coins

Overdraft Protection

You work hard for your money, and it should work just as hard for you. At Citizens Independent Bank, we offer tools, tips, and services to help you manage your account, reduce the risk of overdrafts, and  prevent unnecessary fees.


Overdraft Protection Options.

 
These services help you avoid overdraft fees by automatically transferring or advancing funds when your checking account doesn’t have enough to cover a transaction.

Convenience Credit

 
This is a safety net for your checking account.  A revolving personal line of credit (subject to credit qualification) that automatically transfers funds to your checking account when needed. Interest applies only to the amount advanced. Contact us for details.

Savings Overdraft Protection

 
Link a CIB savings account to your checking account. If you’re overdrawn, funds will automatically transfer from the savings to the checking for a small fee.

Cover Your Account (CYA)

 
A courtesy service for eligible personal checking accounts. When your account is in good standing, we may pay overdrafts caused by transactions such as checks, ACH payments, or recurring debit card transactions. For additional protection, you can opt-in to have us consider covering your ATM and everyday debit card transactions as well. Overdraft fees apply, up to the daily limit, for this service.












































An overdraft occurs when a transaction is presented to your account, but the available balance isn’t enough to cover it. This can happen when:
 
  • A debit card purchase or ATM withdrawal wasn’t recorded
  • A payment posts earlier than expected
  • A math or bookkeeping error occurs
  • A service charge reduces the balance
 
An overdraft may result in a fee whether the transaction is paid or returned. Because mistakes happen, we offer tools and protection services to help you manage your balance and reduce the risk of fees.
We’re here to help. The best way to avoid overdraft fees is to closely monitor your account activity. Here are a few tips to help avoid unwanted overdraft fees:
 
Review Your Account Statement
Regularly reconciling your account is one of the best ways to prevent overdrafts.
 
Digital Banking
Stay on top of your balance anytime with secure 24/7 access from your computer or mobile device. Stay ahead of potential overdrafts, check transactions in real time, transfer funds, and set up email or text alerts- such as low balance alerts—all from wherever you are, including right from your phone.
 
TeleBANK
Access account information by phone anytime using our automated TeleBANK system at 952 925 3344. TeleBANK Guide.
 
Call Us
Feel free to stop in or call us at 952-915-8525 to speak to a banking representative about your account.
The order in which transactions post to your account can impact whether an overdraft occurs.
 
At Citizens Independent Bank:
  • Electronic transactions (such as debit card purchases, ATM withdrawals, transfers, and ACH items) post before paper checks, as transactions are received.
  • Checks post in check number order, which we believe is the fairest approach, because checks are processed in the order you wrote them.
$35 Overdraft Paid Item Fee—charged per item when we pay an overdraft
 
$35 Returned Item Fee—charged per item when we return an item unpaid
 
  • Maximum of $175 in overdraft and returned item fees per day
  • No overdraft fee if your account is overdrawn by less than $5
 
Ways We Help Reduce the Cost of Overdrafts
  • Daily cap on fees
  • Small‑overdraft fee forgiveness
  • Optional overdraft protection services

 





We provide personal banking, business banking, mortgage lending, and financial services to businesses and individuals across the western Twin Cities. Explore our local banking locations in Saint Louis Park, Robbinsdale, Hopkins, and Plymouth to find the branch most convenient for you.