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Overdraft Opt In / Opt OutCurrently and up until August 15th Community Bank & Trust is allowed to Approve and Pay overdrafts for you at our ATM’s or for Point of Sale purchases. Starting August 15th, you would be required to Opt in to continue this service. If you choose not to Opt in, you will no longer be able to have these debits approved if an overdraft situation occurred. You can opt in or opt out using our secure Online form: Overdrafts and Overdraft FeesAn 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 overdraft in two different ways:
Standard Overdraft PracticesWe 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 (see below):
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. Fee Charged if Community Bank & Trust Pays and OverdraftUnder our standard overdraft practices:
Frequently Asked QuestionsDoes this new regulation affect Business Customers as well as Consumers?
{q1}
If I opt in, can I opt out at anytime?
{q2}
If I opt in and my joint account holder opts out, which would apply to the account?
{q3}
If I don’t want to Opt in for Paying Items at an ATM or for one time POS transactions, does that also mean I no longer have the $600.00 ODP to pay checks over my balance.
{q4}
Why would I need to Opt in if I do not regularly overdraw my account?
{q5}
If I choose to Opt out prior to the August 15th effective date will the new rules take effect for me right away?
{q6}
By what means can I Opt in or Opt Out?
{q7}
If I have an overdraft sweep attached to my account (HELOC, Savings, or LOC) will that affect anything on my account if I overdraw?
{q8}
You can opt in or opt out using our secure Online form:
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