A new federal banking regulation will impact how all banks handle ATM and one-time point-of-sale (POS) debit card transactions that would result in insufficient funds.

Currently, banks may approve ATM and POS transactions as a convenience to customers even if these items exceed the customer’s available balance at the time. If the items are paid, the bank may charge a fee.

To continue No Bounce Advantage overdraft coverage service for POS debit and ATM transactions, you must request to continue service on your account.

You can do this by visiting your local branch or you may click here to download a printable form which you may fill out and mail back to us.

There is no charge for adding No Bounce Advantage overdraft coverage to your account. However when you complete a transaction that exceeds your available balance and the Bank pays the item(s), you will be charged the NSF fee.

If you do not want us to provide this coverage, there is no action required. However, the Bank will no longer be able to cover any ATM or POS debit card transactions that result in an overdraft to your account.

If I choose to Opt In to continue No Bounce Advantage overdraft coverage,
what does that mean?
It means you give the bank permission to pay ATM and everyday debit card transactions in excess of your available balance. If paid, a fee of $30 may be assessed.

What if I do not continue No Bounce Advantage overdraft coverage?
If you do not take action, your coverage will discontinue as of August 14, 2010. This means that any ATM or debit card transaction that would result in an overdraft of your account will be declined at the point of sale.

How long do I have to decide to continue No Bounce Advantage overdraft coverage?
The Federal Regulation goes into effect on August 15, 2010 for existing accounts. On or after that date you are no longer covered unless you choose to Opt In to continue your No Bounce Advantage overdraft coverage. You can select overdraft coverage at any time.

What happens if I miss the deadline?
If you do not Opt In to continue coverage by August 14, 2010 you will no longer have No Bounce Advantage overdraft coverage for your ATM and debit card transactions. You can continue overdraft coverage now or select overdraft coverage at any time after August 14, 2010.

Is there a fee to continue standard No Bounce Advantage overdraft coverage?
There is no fee to continue this service; however if you continue No Bounce Advantage overdraft coverage and an item is paid resulting in an overdraft of your account, a fee of $30 may be assessed.

Can I change my decision to continue this service?
Yes. You can change your decision to have overdraft coverage at any time.

Does this change apply to checks or reoccurring payments from my account?
The new regulation only applies to ATM and debit card transactions. Automatic bill payments, checks and other transactions made using your checking account number are not affected. We may authorize and pay overdrafts on these transactions and fees may be incurred. The bank pays overdrafts at our discretion, which means that we do not guarantee that we will always authorize and pay any type of transaction.