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If you use your debit card for everyday purchases at grocery stores, gas stations, doctors’ offices and so on, as well as for transactions at the ATM, you need to know about a regulatory change that will limit your safeguards in case of emergency. As of August 15, 2010*, we can no longer provide automatic Overdraft Privilege service on these everyday debit card purchases and ATM transactions. If you want this service, you will need to specifically request that Overdraft Privilege be continued on your account.
Personal accounts with Overdraft Privilege service will receive further information in the mail, with a form to request this service. Alternatively, you may print this form, fill it out and bring it to any of our branches.
For more information, watch this video: Reg E Overdraft Protection Changes
The effective date of the change is August 15, 2010 for accounts opened before July 1, 2010. For accounts opened after July 1, 2010 the effective date of the change is July 1, 2010. Beginning August 15, 2010, we will not authorize and pay overdrafts on ATM and everyday debit card transactions without account holder consent. An overdraft (OD) fee or insufficient funds (NSF) fee of up to $28.00 will be charged for covering overdrafts that result in a negative balance at the end of the day. Overdrafts may be created by check, ACH, online banking transactions, phone transactions or other electronic means. Recurring debit card transactions (payments that are set up to bill and pay automatically), such as an automatic draft from your health club or insurance company, may continue to be covered by your overdraft service. Once an overdraft has occurred you are required to bring your account to a positive balance within 30 days. We reserve the right not to pay if your account is not in good standing. Contact us at 800-310-6356 if you have questions.
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