Overdraft Protection

Claremont Savings Bank offers two options to protect your good credit standing in the event your checking account becomes overdrawn. No one likes to think about being overdrawn, but it can happen to any of us through an oversight or miscalculation. An innocent mistake can cause embarrassment, inconvenience, overdraft charges, costly returned check fees and a bad credit rating. Here are some alternatives CSB offers to prevent this from happening.

Help Yourself Account

With a Help Yourself Account, you can transfer funds from another statement savings account here at CSB to cover an overdraft. Should you inadvertently overdraw your NOW/Checking Account, you are protected by an automatic transfer of the exact amount needed to cover the check from an account you have designated for this purpose. The fee for this service is $1.00 per transfer.

Whisper Loan

(Overdraft Protection) - Whisper Loan allows you to write a loan from your own NOW/Checking Account (up to prearranged limit, subject to credit approval). With this type of loan, payments are flexible, allowing you to make a small minimum monthly payment or as much as you wish to pay. Should you inadvertently overdraw your NOW/Checking Account, Whisper Loan can protect you by automatically transferring the exact amount needed to cover the check.