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Overdraft Protection and How to Avoid Overdraft Fees

What is an overdraft?

An overdraft occurs when you spend or withdraw more money than you have available in your checking account to use.

One of two things happens when you do not have enough money in your account to cover a transaction. The transaction can be rejected without payment (it is sent back to the person or company you paid); this is called a return item. Or, the transaction is paid, causing your account balance to become negative, also called an overdraft. In both cases, a fee may be charged to your account for each item that is paid or returned unpaid.

We understand that occasional mistakes or temporary situations can cause you to overdraw your account. However, incurring overdraft or return item fees on a regular basis can be costly.

Central Pacific Bank offers the following overdraft protection options for your personal checking account for those occasional overdrafts:

  • Savings Overdraft Protection
  • Personal ExpressLine of Credit 
  • Home Equity Line of Credit
  • Overdraft Privilege

Personal Overdraft

How to Avoid Overdraft Fees

At Central Pacific Bank, we believe that financial education helps people make informed decisions. For tips on how to prevent overdrafts, you can watch this short video:

Watch a quick video to learn more.

You can also take the following steps:

  • Know your account balance and keep track of your deposits and payments, including those that are scheduled to occur automatically (you can do this by keeping a transaction register). Using free services like online banking, mobile banking, or our Infoline telephone banking can help. 
  • On a monthly basis, take time to balance your checking account register with your monthly statement from the bank. 
  • Sign up for direct deposit of your paycheck or Social Security payments. 
  • Know when regular electronic transfers (e.g., rent, mortgage payments or utility bills) and direct deposits (e.g., payroll or Social Security checks) are paid or deposited into your account. 
  • Sign up for low-balance email alerts, available through our online banking service.

For more information, please visit any branch or call our Customer Service Center at (808) 544-0500 or toll-free at 1-800-342-8422.

Overdraft Privilege for ATM and Everyday Debit Card Transactions (for Personal Checking)

Overdraft Production Option

If you have Overdraft Privilege service on your personal checking account, your Overdraft Privilege is available for checks, in-person withdrawals, automatic bill payments such as online bill payments, preauthorized debits to pay bills automatically from your account and recurring bill payments using your debit card. If you would like us to use Overdraft Privilege for ATM and everyday debit card transactions, we’ll need your consent. If you consent, our overdraft fees will apply to ATM and everyday debit card transactions. You may revoke your consent at any time. You can give us your consent or revoke your consent in one of the following ways:

  • By Mail. Please print this Authorization Form, complete, and mail to Central Pacific Bank, Attn: Overdraft Privilege, PO Box 3590, Honolulu, HI 96811-3590. Please keep a copy for your records.
     
  • By Phone. Call our Customer Service Center at (808) 544-0500 or toll-free at 1-800-342-8422. Please read this Authorization Form for information and print a copy for your records. 
  • In Person. Visit any branch for assistance. 

Overdraft Privilege – Cancel or Re-enroll

If you have Overdraft Privilege service on your personal checking account and would like to cancel this service, please notify us in one of the following ways:

If you cancelled your Overdraft Privilege service and would like to have Overdraft Privilege added back on to your account, simply re-enroll by mail, phone or in person as shown above.

For more information, please visit any branch or call our Customer Service Center at (808) 544-0500 or toll-free at 1-800-342-8422.

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