Dear PBCCU Valued Member, At PBC Credit Union, we strive to pay your check transactions and automatically drafted payments (ACH) regardless of the funds that exist in your account. We can extend this valuable service to your everyday debit and ATM items, but, due to federal regulations, we require your permission to do so. Deciding whether to opt-in to these overdraft services is an important decision. At PBC Credit Union, we want to ensure that you have all of the information you need to make an informed decision. If you decide to Opt-In: • You DO want us to try to cover your everyday debit card and ATM transactions regardless of the funds that exist in your account. • You are willing to incur the fees that we've outlined for this service. You'll only incur the fees if we actually cover the overdraft for you. There's no fee to opt-in to the protection. • If we cover your overdraft, you will be saved the frustration and embarrassment of having your card declined. If you decide not to Opt-In: • You do NOT want us to cover your everyday debit card and ATM transactions when there are insufficient funds in your account. • You will not be charged any overdraft fees for everyday debit card and ATM transactions. • Your transaction will be declined if insufficient funds exist. We've enclosed a form that you may complete and mail back to us in the envelope provided to notify us of your decision. Need Help Making a Decision? Please contact Jose Garcia, Product Development Specialist, at 561-686-4006 ext. 1116. Or, you may email him at [email protected]. As always, we appreciate your membership and the opportunity to serve you. Sincerely, PBC Credit Union West Palm Beach office 3469 Summit Blvd. West Palm Beach, FL 33406-4193 • Phone (561) 686-4006 • Fax (561) 687-9943 www.pbccu.coop What You Need to Know about Overdrafts and Overdraft Fees An overdraft occurs when you do not have enough money in your account to cover a transaction. We may pay the overdraft anyway. We handle your overdrafts in two different ways: 1. We have Overdraft Courtesy Pay that automatically comes with all new accounts after 90 days of successful account activity. 2. We also offer free overdraft protection, linked to a savings account, which is less expensive than our Overdraft Courtesy Pay program. This notice explains our Overdraft Courtesy Pay program. What are the standard Overdraft Courtesy Pay practices that come with my account? 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 We do not authorize and pay overdrafts for the following types of transactions unless you ask us to by opting-in (see below): • ATM transactions • Everyday debit card transactions 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 will be declined. What fees will I be charged if PBC Credit Union pays my overdraft? Under our Overdraft Courtesy Pay program: • We will charge you a fee ranging from $32 to $38 depending on your relationship tier each time we pay an overdraft. What if I want PBC Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions? • If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, complete the form below and present it to any branch or mail it back to us in the envelope provided. Printed Name: _______________________ Date: ___________________ Account Numbers: I want PBC Credit Union to authorize and pay overdrafts on my everyday debit card and ATM transactions for this account □ □ □ I do not want PBC Credit Union to authorize and pay overdrafts on my everyday debit card and ATM transactions for this account. □ □ □ Attn: Jose Garcia Product Development Specialist 3469 Summit Blvd. West Palm Beach, FL 33406 PBC Credit Union
© Copyright 2024 ExpyDoc
