Please review this information and complete the form at the bottom to choose to accept or decline Debit Card Overdraft Services for your debit card as of August 15, 2010. If you have multiple checking accounts with debit cards, please complete the form once for each account.
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. Community First can cover your overdrafts in two different ways:
We have standard overdraft practices that come with your account (described below).
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 and options you have for debit card overdraft services.
What are the standard overdraft practices that come with my account? Under our standard overdraft practices, we do authorize and pay overdrafts for the following types of transactions:
Checks
Automatic bill payments
ACH transactions and other transactions made using your checking account number
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see authorization below):
Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay every type of transaction. If we do not authorize a transaction and pay an overdraft, your transaction will be declined.
What fees will I be charged if Community First pays my overdraft? Under our standard overdraft practices:
We will charge you a fee of $25 each time we pay an overdraft.
There is a limit of 6 overdraft charges per day on your account ($25 per occurrence) (Limit effective August 15, 2010).
What if I want Community First to authorize and pay overdrafts on my everyday debit card transactions? If you want us to authorize and pay overdrafts on everyday debit card transactions:
