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What You Need to Know about Overdraft Practices and Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:


1. We have standard overdraft practices that come with your account.

2. We also offer overdraft protection plans, such as a link to a savings account and an overdraft Line of Credit, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.


This notice explains our standard overdraft practices.


What are the standard overdraft practices that come with my account?


We do authorize and pay overdrafts for the following types of transactions:


  • Checks and other transactions made using your checking account number
  • Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • ATM transactions
  • Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.


If we do not authorize and pay an overdraft, your transaction will be declined.


What fees will I be charged if Carthage Savings and Loan Association pays my overdraft?


Under our standard overdraft practices:


  • We will charge you a fee of $30 each time we pay an overdraft.
  • Also, if your account is overdrawn for 5 or more consecutive business days, we will assess an additional $5 per day.
  • There is no limit on the total fees we can charge you for overdrawing your account.

What if I want Carthage Savings and Loan Association to authorize and pay overdrafts on my ATM and everyday debit card transactions?


If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 315-493-3480, visit one of our locations or complete the form below and either fax it to 315-493-0231 or mail it to Carthage Savings and Loan, 313 State Street, Carthage, NY 13619.

Opt In/Out Online Form




Opt-In: I want Carthage Savings and Loan to authorize and pay overdrafts on my ATM and everyday debit card transactions for all of my accounts specified below:
For all of my accounts
For accounts specified below:



Decline: I do not want Carthage Savings and Loan to authorize and pay overdrafts on my ATM and everyday debit card transactions beginning August 15, 2010.
I/We confirm that I/We have read and understand the disclosure regarding my right to opt in or opt out of Carthage Savings and Loan paying my ATM or one time debit card transactions. I also agree to receive my confirmation of my opt in or opt out decision electronically.

I/we understand that I have an ongoing right to change this consent at any time.

Security Code

Please enter the letters and numbers from the image above.


Alternative Ways to Opt In/Out

  • By Phone

    Our Customer Service Representatives are standing by if you prefer to Opt In or Revoke an Earlier Request by phone. Call: (315) 493-3480 or (800) 232-0450

  • By Mail

    If you prefer to Opt In or Revoke an Earlier Request by mail, please print this form and send it to:

    Carthage Savings and Loan

    313 State Street

    Carthage, NY 13619

  • In Person

    Sometimes it's easier to talk about things in person. Please visit any of our locations and ask a representative to help you decide which plan is best for you.