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A change is coming to your First National Bank personal checking account that could affect how you’re able to use your debit card for purchases and ATM use for everyday purchases.  Beginning August 15, 2010, unless you authorize First National Bank to pay overdrafts, we will not be able to pay a transaction that causes your account to reach a negative balance.   The change will affect your account when there is an overdraft caused by an ATM or everyday Debit Card transaction.  No other transaction types are affected by this change.

IF YOU OPT IN

  • We can authorize and pay overdrafts on your checks, ACH, online, ATM and everyday Debit Card transactions; however, a new federal regulation will go into effect on August 15, 2010, that only allows us to provide this service to you if you OPT IN.
  • You must OPT IN for us to provide overdraft service for your ATM and everyday Debit Card transactions.

IF YOU OPT OUT

  • We will not be able to provide overdraft coverage automatically for any ATM or everyday debit card transactions that would cause your account to reach a negative balance.
  • This means, if you are at the gas pump or at the grocery store ready to pay and your card is denied due to insufficient funds, we would be unable to assist you with the purchase at that time. 

LET US HELP YOU

New Overdraft rules become effective July 1, 2010.  If you would like this important service, please select OPT IN and enter the information for your account.

We must receive your decision by prior to August 15, 2010.  If we do not receive your decision to continue the service prior to August 15, 2010, we will be required to decline overdrafts transactions for ATM and everyday debit card transactions if there are insufficient funds in your account.  Please take action right now to avoid the loss of this service.

If you have questions, please call us toll free 888.647.4500.


What You Need to Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

  • We have standard overdraft practices that come with your account.
  • We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:

  • Checks and ACH transactions made using your checking account number
  • Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • ATM transactions
  • Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if First National Bank pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30 each time we pay an overdraft.
  • There is no limit on the total fees we can charge you for overdrawing your account.

What if I want First National Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, complete the form below and send to First National Bank by either mailing or presenting it at a branch location.

New overdraft rules become effective July 1, 2010.

  

Download Printable Version of the Form


Today's Date 04/23/2014
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