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Commonwealth Bank and Trust Company

Overdraft Courtesy

Protection for your accounts

As a service to our customers, we offer Overdraft Courtesy on qualified accounts. Federal regulations now require customers to Opt In for Overdraft Courtesy on everyday debit card transactions and ATM withdrawals. If you do not specifically Opt In for Overdraft Courtesy on everyday debit card transactions and ATM withdrawals, your transaction will not be approved if you do not have available funds.

To Opt In for Overdraft Courtesy, please complete the attached form. If you’ve already completed the enrollment form and wish to change your selection, you must complete and resubmit the form.

What you need to know about Overdrafts and Overdraft Fees

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

  1. We have standard overdraft practices, which are available to all checking accounts in good standing.* For existing accounts, the Bank may deny or suspend overdraft coverage for a number of reasons, including but not limited to, the account no longer being in good standing, the account is dormant, the accountholder's financial condition is questionable, the account officer deems it necessary, and/or the Bank has determined ODC was used to make payments on loan obligtions owed to the Bank.
  2. We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, visit one of our locations or call Customer Service at 502.259.2000 or 502.633.1000.

Our standard overdraft practices for qualified accounts:

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
  • Overdraft Courtesy will be automatically suspended if the account remains overdrawn for 15 days

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

  • 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 Commonwealth Bank & Trust Company pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $33 each time we pay an overdraft.
  • Also, if your account is overdrawn for five (5) consecutive days, we will charge an extended overdraft fee of $15.00.
  • There is no limit on the total fees we can charge you for overdrawing your account on any day.

What if I want Commonwealth Bank & Trust 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, you can elect such coverage using one of the following methods:

  • Fill out the form below and submit. The form is safe and secured.
  • Visit any of our locations.
  • Call our Customer Service Department between 8:00 a.m. and 5:00 p.m. Monday through Friday at 502.259.2000 or 502.633.1000.
  • You may change this election at any time.


*Good standing includes, but is not limited to, the following criteria: the account has been opened at least 30 days or less than 30 days with account officer approval, making regular deposits of at least $300 per month per account covered by ODC, not being in default on any loan obligations with the Bank, not being subject to any legal or administrative order or levy.

Customer Information

Overdraft Courtesy Request/Refusal


Please choose one:
 I do not want Commonwealth Bank & Trust Company to authorize and pay overdrafts on my ATM and everyday debit card transactions.
 I want Commonwealth Bank & Trust Company to authorize and pay overdrafts on my ATM and everyday debit card transactions.

Please choose one:
 I do not want Commonwealth Bank & Trust Company to authorize and pay overdrafts on my ATM and everyday debit card transactions.
 I want Commonwealth Bank & Trust Company to authorize and pay overdrafts on my ATM and everyday debit card transactions.

Please choose one:
 I do not want Commonwealth Bank & Trust Company to authorize and pay overdrafts on my ATM and everyday debit card transactions.
 I want Commonwealth Bank & Trust Company to authorize and pay overdrafts on my ATM and everyday debit card transactions.

* indicates required information