Check Guard overdraft privilege

The $500 credit memo included within your 'Available Balance' total is an overdraft privilege which you qualified for and accepted via a welcome letter mailing sent to you. This overdraft privilege is called "Check Guard".

What is Check Guard overdraft privilege?

Check Guard overdraft privilege is a service we add to your checking account to cover overdrafts to a set limit, subject to the eligibility criteria. Check Guard may help you avoid returned item fees normally assessed by merchants. With Check Guard, we will generally pay your overdraft items up to $500 on all checks written, in-person withdrawals, or other electronic transactions, such as ATM withdrawals, ACH items, any debit card transactions, pre-authorized automatic transfers, telephone-initiated transfers and online banking. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, if you are not making regular deposits, or if you have too many overdrafts.

How does it work?

If you write a check, or make a withdrawal from your checking account that exceeds your available balance, we generally pay your overdraft(s) up to a $500 pre-set limit. We'll charge you the usual $26 items paid against insufficient funds fee, or the $26 items returned unpaid due to insufficient funds ("PAID NSF/OD Fee" or "RTN NSF/OD Fee"), plus the sustained overdraft fee (if applicable) of $5.00 per day for each business day your account is overdrawn more than 8 business days during the statement period. You will then have 30 days to bring your account back to a positive balance by making deposits.

Do I have to apply or fill out a credit application?

No. This is a service we provide to eligible personal checking account customers.

Can I change the Check Guard overdraft limit?

No. The $500 limit is pre-set, and is the same for everyone.

Does my $500 Check Guard limit appear in my available balance?

This limit will be included in your available balance in INFOLINE telephone account inquiries, online banking screens, and on teller receipts. It does not appear on balances from ATMs or checking account statements. Note: Please check your balance before initiating an ATM transaction to see if the withdrawal will create an overdraft on your account, which will result in you being assessed our $26.00 overdraft fee for each withdrawal.

What do I do if I don't want this Check Guard overdraft privilege?

You can do one of two things to remove Check Guard overdraft privilege from your account:

• You can print, sign, and return this form to any Central Pacific Bank branch, or
• Simply contact the bank by calling 544-0500 or 1-800-342-8422 anytime from 7:30 am to 7:00 pm.

What other overdraft products do you offer?

We have loan products which offer overdraft coverage. They are Check-A-Loan and our Lines of Credit. Please visit your nearest Central Pacific Bank branch and let us assist you in determining which product is best for you.

For more information, please read the Check Guard Disclosure.

If you do not want this Overdraft Privilege, please print, sign and return this form to any Central Pacific Bank branch.