Overdraft Services

At times, unanticipated expenses or unforeseen problems can leave you with little too no cash in your checking account. Having a check returned due to insufficient funds can be a costly, inconvenient and potentially embarrassing experience. 

At Chesapeake Bank, we do not encourage overdrafts. As always, we encourage you to manage your finances responsibly. 

First Things First

Properly managing your finances is a top priority at Chesapeake Bank. We offer several services that will help you manage your account and avoid unnecessary overdrafts. You may like to use the following account management tips to prevent overdraft fees:

  • Understand your available balance. At Chesapeake Bank, you can find your checking account’s available balance online, through your mobile device, at the ATM, or through our 24-hour phone service. This is the most current record we have of the money available to withdraw from your account or for the authorization of your next debit card purchase. However, your available balance includes only the authorized or pending payments that we know about. You may have authorized transactions that will make the amount truly available for your next purchase lower than what is known to us.
  • What is one of the best ways to avoid having a negative balance or an overdraft? Write it down. Know all the outstanding obligations you have and consistently write them down in your own personal transaction register. It doesn’t matter whether you use an online tracking tool or a paper-based register. What does matter is that you faithfully record every deposit, withdrawal, and purchase in your register and keep a current, accurate record of the money you truly have available. Always consult your personal transaction record before making your next purchase or withdrawal.
  • Use direct deposit for your paycheck. You will have access to your paycheck immediately.
  • Keep a "pad" or cushion of money in your checking account to be safe, just in case you have forgotten to record a transaction.
  • Enroll in electronic delivery of your statement through Online Banking. Electronic statements are a fast and secure way of receiving your account information for a quick review.

We offer several services that will help you manage your account and avoid unnecessary overdrafts. 

  • Online, Mobile, and Text Banking - You can manage your accounts on the go by setting up balance alerts, transferring funds, and viewing transaction activity.
  • Mobile Deposit - In addition to the features above, you can also make a check deposit within the app.
  • Touch-Tone Teller - No access to a computer or device, no worries. With our Touch-Tone Teller System, you can set up your accounts and call 800-417-6675, 24/7 to monitor and transfer funds.
  • Automated Transfer - Use this feature to set up a reoccurring transfer for a specific amount and date.
  • Automatic Sweep - With this feature, you can link two accounts. If one account is overdrawn, a designated account can 'sweep' money to replenish funds for a minimal fee.
  • Money Line Checking - This is a personal line of credit attached to a checking account. With approval, $100.00 increments can be disbursed up to the available credit limit to cover an overdraft.
  • Easy Pay Privilege - is a discretionary overdraft service that provides a safety net for you up to a specified amount in the event your account becomes overdrawn. Your Easy Pay Privilege limit may be available for checks and other transactions made using your checking account number or automatic bill payment and recurring debit card payment.

If you'd like to learn more about one of these services, contact your home branch or call 877-436-9032.