Overdraft Advance/Protection


Each draft account is automatically set up for overdraft protection. If the funds are not in the draft (checking) account when a check tries to clear, the funds will automatically be transferred from the share (savings) account to clear the check with a $5.00 over draft fee.


In addition to Overdraft Protection Chiphone offers Overdraft Advance. This service allows you to overdraw your account up to $500. This provides you with a cushion when needed. Current overdraft protection arrangements will remain as they are. Overdraft Advance will only be activated if there are insufficient funds available from your other account (s).