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.
- We have standard overdraft practices that come with your account.
- We also offer optional 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.
We do authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
- ATM transactions
- Everyday debit card transactions
- We will charge you a fee of up to $37 each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
- You have the right to revoke the consent at anytime.
- Overdraft fees are subject to change at the discretion of management.