STAY PROTECTED – Opt In for Overdraft Coverage
Debt and ATM cards are a convenience it’s hard to imagine living without. Using debit and ATM cards makes it easier than ever to make purchases and payments, but it also makes it easier to overdraw a checking account and incur fees. As a result, federal lawmakers created new rules governing overdraft protection programs that go into effect on July 1, 2010.
Complete the opt-in form in order to keep your Overdraft Coverage.
You now have an option of saying whether you want to continue to have our Overdraft Reserve cover your ATM and everyday debit card transactions. Please note that this opt-in rule applies only to ATM and everyday debit card transactions and does not pertain to overdraft protection services associated with written checks or recurring debit transactions, such as regularly scheduled bill payments.
Why opt in?
Shelby County State Bank’s Overdraft Reserve is designed with your protection and convenience in mind. The vast majority of our customers do not overdraw their accounts and incur fees, however, life doesn’t always go according to plan and overdrafts do occur. Without overdraft protection, your ATM and everyday debit card transaction may be declined if you attempt to make a transaction without sufficient funds.
FOR EXISTING ACCOUNTS: If you do not opt in, beginning August 15, 2010, your ATM and point-of-sale debit card transactions will NOT be protected under SCSB’s Overdraft Reserve program.
FOR NEW ACCOUNTS: If you open a new account on or after July 1, 2010, your ATM and everyday debit card transactions will not be protected under SCSB’s Overdraft protection unless you opt in.
How to opt in
Call (712) 755-5112 or complete the opt-in form and you can drop it off at any SCSB Office, fax it to 712.755.2869 or return it to us by mail.
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