You need to know the choice is yours!
Overdraft AdvantEdgeSM is a convenient service that provides you and your family with financial flexibility in times when you may not have sufficient funds in your account.
A new regulation requires us to make some changes to services to your account. Effective August 15, 2010, we do not authorize and pay overdrafts for everyday debit card transactions and ATM transactions, unless you ask us to. If we do not authorize and pay an overdraft, your transaction will be declined. The new regulation has no impact on checks and other transactions made using your checking account number (ex: ACH, recurring debit card charges), and automatic bill payments.
In the near future, you will be receiving a mailing from us with additional information regarding these changes and what you need to do in order to continue to have this service available effective August 15, 2010 and going forward for your ATM and everyday debit card transactions.
Remember, unless you ask us to authorize and pay overdrafts for everyday debit card transactions and ATM transactions*, those transactions will be declined beginning August 15, 2010 for accounts opened prior to July 1, 2010. Some
examples of everyday debit card transactions are:
• Gas stations • Grocery stores
• Restaurants • Dry cleaners
• Pharmacies • Movies
Please take the time to consider the ways you use your ATM and
debit card and make the choice that is right for you and your family.
If you prefer not to wait for the mailing and want to provide your
account holder consent, please visit any one of our branch locations, download the form below or call (617) 387-5110.
Click here to download the form today!
* A non-sufficient funds (NSF) fee of up to $25.00 will be charged each time we pay an overdraft. The maximum number of overdrafts you may be charged in a day for overdrawing your account is three (3) or up to $75.00. Overdrafts may be created by checks and other transactions made using your checking account number (ex: ACH, recurring debit card charges), and automatic bill pay, ATM transactions and everyday debit card transactions. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds. However, if you maintain your account in good standing, as defined by making regular deposits that bring your account to a positive balance at least once every 30 days, and there are no legal orders outstanding, we may approve your reasonable overdrafts as a non-contractual courtesy. Normally, we will not approve an overdraft for you in excess of your limit plus the overdraft charge. We may refuse to pay overdraft for you at anytime, although we may have previously paid overdrafts for you. |
