Regulation E - Overdraft Services Opt-In
Due to new federal regulations, effective August 15, 2010, ABNB Federal Credit Union will require that you give us permission to continue to provide you with overdraft services on everyday debit card transactions. Even if we have provided you this service in the past, we need your permission to continue doing so.
The BENEFITS of overdraft protection:
· It is convenient.
· It saves embarrassment.
· It provides a safety net.
· It is good to have in an emergency.
If you decide to OPT-IN:
- · The credit union will try to cover your everyday debit card transactions regardless of the funds that exist in
- your account (ATM daily limits also apply).
- your account (ATM daily limits also apply).
- · There is no fee to OPT-IN to the protection.
- · There is a $29 overdraft fee each time we pay a transaction when you have insufficient funds available.
- You will incur the fees ONLY if we actually cover the overdraft for you.
- You will incur the fees ONLY if we actually cover the overdraft for you.
If you decide NOT to OPT-IN the credit union may not cover your everyday debit card when there are insufficient funds in your account and your transaction may be declined.
Click on the graphic above to:
· Notify us of your decision online.
· Learn about the new regulations.
* Trust, association, organization, business and demand deposit accounts are not affected by this new rule.
