Banking and Finance

How to Get Your Citizens Bank Overdraft Fees Waived? Useful Tips that Help

KK
June 13, 2020

What is overdraft fee?

An overdraft occurs when you do not have enough money in your bank account to cover your transaction. 


Most banks will charge you an overdraft fee. Each bank charges different overdraft fee. Here is a picture of the overdraft fees of some top banks in the US (2020)

overdraft fee

Citizens Bank overdraft policies 

Citizens Bank authorizes and pays overdrafts for two types of transactions:


1. Checks and other transactions made using your Citizens bank checking account number

2. Automatic bill payments

Citizens Bank does not authorize and pay overdrafts for two types of transactions (they will authorize if you call them to authorize it.)

1. ATM transactions

2. Everyday debit card transactions


However, Citizens Bank keeps their right to refuse any transaction. 


Overdraft fee charged by Citizens Bank is $35 each time. If your bank account remains overdrawn for 4 consecutive business days, the bank will charge a sustained overdraft fee of $30 on the 5th business day. The daily maximum of overdraft times is 7, so maximum overdraft fees is $245 per day.


Normally, Citizens bank won’t authorize ATM transactions and Everyday debit card transactions. However, if you still want the bank to authorize the transactions, you can call 1-888-400-5663, or log in to Online Banking or complete the form below and present it at a branch.


Check the details of Citizens Bank overdraft service here.

https://www.citizensbank.com/pdf/overdraft/Reg_E_Notice.pdf

https://www.citizensbank.com/checking/overdraft.aspx


How to waive an overdraft fee from Citizens Bank?

Most people think they will never overdraw their money. The truth is, a lot of people may still forget to monitor the available fund in their bank account, which leads to an overdraft. If an overdraft occurs, you still have chances to get your money back. Here are some tips you can try to waive the overdraft fee. 


Call the bank customer service

If it is your first time of overdraft, you can just call Citizens Bank customer service phone number 1 (800) 922-9999 and tell them that it is your first time and it won’t happen again. Citizens bank will understand you and waive the fee to remain you as a loyal customer. Remember, speak politely.

If it is not the first time, you must spend more time to deal with an overdraft fee. If you can’t get you overdraft fee waived by a call, just call again and you probably will talk to another representative who would like to waive your fee. Here is an example of the phone conversation:

  • Customer: Hi, there is an overdraft fee charged in my bank account. Could you please help me to waive the fee?
  • Bank: I see the fee. Unfortunately, we are not able to waive the fee because xxx
  • Customer: I have been a good customer for xx years and the overdraft happens accidentally. I won’t let that happen again. I would like to set up a notification to let me know when the account balance is low. Could you please help me to waive it? I will be happy to stay with Citizens Bank.
  • Bank: OK. Let me check. One sec please.
  • Customer: I appreciate that, thanks!

What should do If a call doesn’t work?

Just try to call the customer service first, if it doesn’t work, there are some options for you.


1. Walk in bank and talk to the banker

You can find nearest Citizens Bank hours here.

2. Use bank locator to find a local branch here:

          https://www.citizensbank.com/customer-service/branch-locator.aspx

3. Email to Citizens bank:

Enroll in Online Banking and send secure messages by clicking on the "CONTACT US" link at the top of the page. You will have the option to message Citizens Bank about specific questions or send general comments or concerns. Citizens bank needs you to enroll in online bank and contact them because it can secure your personal information.

4.Contact Citizens bank Chief Executive

Bruce Van Saun

Chairman and Chief Executive Officer

1 Citizens Plaza, Providence, RI, 02903

bruce.vansaun@citizensbank.com


How to avoid an overdraft fee from Citizens Bank?

The first thing you can do is to monitor your account. It is the easiest way to avoid being charged an overdraft fee. You might forget to check your account sometimes, making you accidentally overdraw your money. There are three options that can help you avoid an overdraft fee.

1. Set up account alerts

Every bank provides account alerts which can remind you when the balance is lower than the number you set before. After receiving a reminder, you can transfer money to your account. In order to set up alerts, you can visit online bank or mobile bank. If you don’t know how to set up by yourself, just call the customer service or talk to a banker in any Citizens bank branch.

2. Savings Overdraft Transfer

After enrolling in savings overdraft transfer, you will link your saving account to your Citizens bank checking account. When you overdraw the money, an automatic transfer of available funds from your saving account will be made to cover the transaction. Please note that savings accounts have withdrawal limits and overdraft transfers will apply to those limits. After Citizens bank authorizes overdrawn truncations, the bank will charge $12 transfer fee per day. ($0 on any transaction of $5 or less than $5, $0 annual fee)


3. Overdraft Line of Credit

Overdrawn transactions in your account will be paid by using available funds from a line of credit attached to your Citizens bank checking account. Citizens Bank will charge $12 transfer fee per day. ($0 on any transaction of $5 or less than $5, $30 annual fee, Interest will be applied)


Here is the link that contains more details. https://www.citizensbank.com/checking/overdraft.aspx

Try debit cards without an overdraft fee

Is there banking that doesn’t have any overdraft fees? Fortunately, yes! With Cheese Debit Card, you will never worry about getting charged by the bank if you spend more than your savings.


Cheese Debit Card is an innovative debit card with zero fee, and you can earn saving bonus and cashback on every purchase. The Cheese card is for everyone.


Click here to sign up!


About Citizens Bank

URL: https://www.citizensbank.com


Citizens Financial Group, Inc. is an American bank headquartered in Providence, Rhode Island, which operates in the states of Connecticut, Delaware, Maine, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, South Carolina, Pennsylvania, Rhode Island and Vermont. Citizens operates more than 1,200 branches and approximately 3,200 ATMs across 11 states under the Citizens Bank brand. Citizens ranks 24th on the List of largest banks in the United States.

Here is a quick snapshot about Citizens Bank:

Headquarters

1 Citizens Plaza, Providence, RI, 02903

Revenue

US$6.128 billion (2018)

Founded

1828

Website

https://www.citizensbank.com

Customer Service

1 (800) 922-9999

Resource: Wikipedia



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