Important information for
CONSUMER ATM/DEBIT CARDHOLDERS:
EFFECTIVE JULY 1, 2010 for NEW
ACCOUNTS and AUGUST 15, 2010 for EXISTING ACCOUNTS - Federal
Regulation E rules give debit and ATM card users additional
options regarding overdrafts. We must offer you choices
about overdraft services for transactions made with your debit
or ATM cards.
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:
1.
We have standard overdraft
practices; we refer to as Bounce Protection, that may come
with your account.
2.
We also offer overdraft
protection plans, such as a link to a savings account,
which may be less expensive than 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 other 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:
·
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 Bank of Eastern Oregon pays my
overdraft?
Under our standard overdraft
practices (Bounce Protection):
·
We will charge you a fee of
$25* each time we pay an overdraft.
·
There is a maximum of $125* per
day of total fees we can charge you for overdrawing your
account.
* These fees are current as of
June 2010. These fees are subject to change.
Please contact your
local branch for current fee information.
What
if I want Bank of Eastern
Oregon 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,
print this OPT-IN
form complete the form and present it at a branch or mail
it to: ,
Bank of Eastern Oregon
Overdraft Services
PO Box 39
Heppner OR 97836
If you decide in the future that
you DON’T want this service, you have the right to revoke
the earlier consent you provided to us. Simply let us
know.
Unless we hear from you, your
account is considered opted out and we will not authorize and
pay overdrafts on your ATM and everyday debit card
transactions.
If you have any questions about
opting in for this service or need additional information,
please contact your local
branch.
