You Need To Know... The Choice Is Yours We want you to know that a
revision to Regulation E (REG E) requires us to make some changes to the
overdraft services on your account. Effective August 15, 2010, the
everyday purchases you make with your debit card and your ATM
transactions will no longer be covered by your existing Bounce
Protection service unless you choose to
Opt In. If you do not have
enough money in your account or the funds are not yet available, your
card will be denied, unless you choose to
WHAT IT COVERS
Our Bounce Protection program is designed to protect
you in case of an emergency and to save you the cost and embarrassment
of having your transactions denied. Currently if there is not enough
money in your account or if a deposit is not yet available, Bounce
Protection may cover your ATM & everyday debit card transactions. These
include purchases at the grocery store, gas stations, doctors’ offices,
pharmacies, and any time you use your card for a one-time transaction
online, as well as withdrawals at the ATM.
THE CHOICE IS YOURS
If you want to continue to have this valuable safety net in case of an
emergency, you must let us know you want to keep this service for your
everyday debit card purchases and ATM transactions or you will lose this
flexibility. You can retain this coverage by simply
Opting In. And, of
course, your overdraft privilege still costs nothing until you use it.
Please take the time to consider the ways you use your account and
debit card and make the choice that is right for you and your family.
Helpful Answers to Your Questions
Does the Regulation affect
other transactions that access Bounce Protection?
Protection will continue to cover overdrafts resulting from checks, ACH
debits, recurring debit card transactions, or bill payments should you
choose not to opt in.
When does the Reg E Amendment go into
The effective date for new accounts is July 1, 2010.
effective date for existing customers is August 15, 2010.
Beginning July 1, 2010 customers opening new accounts
will need to decide how they want their overdraft privilege to be
available for everyday debit card transactions and ATM withdrawals. The
following choices are available:
- Bounce Protection without access
at the ATM and everyday debit card transactions -- No Opt In is required
- Bounce Protection with access at the ATM and everyday debit card
Opt In will be required
- No Bounce Protection for
which an Opt-Out Form will be required.
Beginning August 15, 2010
customers who have not opted-in will have ATM and everyday debit card
transactions declined if there are not available funds in their account
even though they have Bounce Protection.
How do customers Opt-In?
Reg E applies to accounts, not account holders, and therefore
customers will need to
Opt In for all accounts for which they wish to
have the overdraft privilege available. To authorize us to keep your
debit card working as it currently does, you may:
Opt In online;
- Call Customer Care at (877) 879-3622; or
- Print, complete and present
this form to a branch office or mail it to
102 E. Drinker St., Dunmore PA 18512.
IMPORTANT DETAILS ABOUT BOUNCE PROTECTION
An overdraft (OD) fee of $35.00 per item will be charged for covering overdrafts that result in a negative balance. Overdrafts may be created by check, ACH, online banking transactions, phone transactions or other electronic means. Once an overdraft has occurred you are required to bring your account to a positive balance within 30 days. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts. Contact FNCB if you have questions concerning our overdraft protection program.