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Overdraft Regulation Changes

Important Information Regarding Overdrafts for
ATM and Debit Card Transactions
for Consumer Accounts

A change to a federal regulation now requires customers to “opt-in” in order to receive our overdraft services on ATM and debit card transactions.

With the overdraft service an ATM or debit card transaction is treated the same as any other type of transaction: if the activity creates a negative balance, the bank may pay the charge, creating an overdraft in the account, and thus the customer would incur an overdraft charge. 

Studies have shown that bank customers appreciate the overdraft services they receive from their banks, as an alternative to having their charges denied.

IF YOU OPT-IN:
You are giving the bank permission to approve ATM and debit card transactions that will create a negative balance in your account. As always, your account would then be charged our normal overdraft fee, and you will be expected to bring your account to a positive balance immediately.

IF YOU DO NOT OPT-IN:
The bank will not be able to provide coverage for ATM and debit card transactions that would cause your account balance to be negative. If there are not sufficient funds in your account, the ATM and debit card transaction will be declined

There will still be certain debit card transactions that may cause your account to overdraft. These exceptions are explained below in the FAQ’s.

For more information, click the links below:

How Do I Opt-In?

Regarding Overdraft Regulation Change

How Can I Avoid Overdraft Fees?


What Overdraft Protection programs does First State Bank offer?

Click here to download the Opt-In form