Courtesy Overdraft

With Courtesy Overdraft, we will consider approving your reasonable overdrafts – in the event you have not linked your checking account to a QuickDraw Line of Credit or any of your Savings Accounts – up to a $500 limit.

  • Available to Accounts In Good Standing -- As long as you continue to make regular deposits, are not in default on any bank obligations and are not abusing this courtesy, we will keep this discretionary service in place on your account(s).
  • Minimize Fees -- While standard overdraft fees will apply, Courtesy Overdraft can help minimize returned check and late fees charged by creditors.
  • Rest Easy -- Mistakes can happen, but with Courtesy Overdraft you can avoid the embarrassment, inconvenience and expense associated with returned items.

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We pay overdrafts at our discretion. With Courtesy Overdraft, this means we do not guarantee we will always authorize and pay any type of transaction when there is not enough money available in your checking account. A standard overdraft fee of $25.00 will be assessed per item paid with a maximum daily fee limit of $100.00. Accounts with an overdrawn balance of $10.00 or less will not be charged an overdraft fee. Centennial Bank will charge a fee of $25.00 for each insufficient funds item that is returned unpaid; there is no maximum daily fee limit on returned items. You may choose at any time to not participate in Courtesy Overdraft, by notifying us in writing, or in person with any Centennial Bank customer service representative.



We do not have to allow you to make a withdrawal from your Account if you don't have sufficient available funds in the Account to cover the full amount of the withdrawal. If there are available funds to cover some, but not all, of the withdrawals or other debits to your Account on a single business day, we will post the checks for which there are sufficient available funds in any order we may choose at our sole discretion. We may pay other withdrawals or debit items (such as charges) prior to paying any checks, and we may post those other withdrawals or debit items in any order we may choose at our sole discretion. If there are insufficient available funds to cover some of the withdrawals or debits presented against your Account, such items will be handled in accordance with our overdraft procedures or in accordance with any other agreement you may have with us (such as an overdraft protection program.) Even if we choose to pay one or more overdrafts, we are not obligated to cover any future overdrafts. We may determine the balance of your account in connection with determining whether payment of an item will create an overdraft at any time between the time we receive the item and the deadline for us to take action on the item. We are not required to determine your account balance more than one (1) time during this period. A service charge may be assessed on any withdrawal created by check, in-person withdrawal, ATM withdrawal, or other electronic means, that will overdraw the available account balance, regardless of whether we pay or dishonor (return) the item. You agree, immediately upon notice from us, to deposit funds sufficient to cover any overdraft plus service charges, if required. We will not be liable for the dishonor of any item when the dishonor occurs because we set off a debt against your account. We also may refuse to allow a withdrawal if there is a dispute about the Account (unless a court has ordered us to allow the withdrawal), the Account is garnished or attached, the Account has been pledged as collateral for a debt, the availability of the funds on deposit cannot be verified, any required documentation has not been presented, or you fail to repay an obligation to us on time.