Regulatory changes adopted by the Board of Governors of the Federal Reserve require us to change the standard overdraft practices that apply to all personal checking accounts. These changes require Advance Financial to discontinue your overdraft protection for ATM and everyday debit card transactions unless you affirmatively agree, or “opt-in,” to overdraft protection for these transactions.
This means that unless you tell us you want us to continue to apply our standard overdraft services to your ATM and everyday debit card transactions, we will decline any transaction that overdraws your account. However, any overdraft protection you may have for checks, automatic bill payments and other transactions made using your checking account number will remain unchanged.
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:
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 may be declined.
We do authorize and pay overdrafts for the following types of transactions:
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to:
Under our standard overdraft practices:
If you would like to opt-in and authorize Advance Financial to pay overdrafts on your ATM and everyday debit card transactions, please take action now to avoid the loss of this service.