Q: What are Overdrafts and Overdraft Fees?
An 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 overdrafts in two different ways:
1. We have standard overdraft practices that come with your account.
2. We also offer overdraft protection plans, such as our Overdraft Advantage service or a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
Q: What are my choices?
You have three options:
• Choose Opt In from the Overdraft Advantage application to continue receiving Overdraft Services for ATM and everyday debit card transactions (an overdraft fee will apply).
• Do nothing to have us DECLINE any ATM withdrawals or Debit Card purchases that exceed your balance.
• Or, choose to enroll for an Overdraft Advantage service, or Automatic Transfers from savings or other accounts to cover the overdraft (ask us for more information – may require a separate application for credit approval or linkage to your savings account).
Q: If I do nothing, what are the standard overdraft practices that come with my account?
We may authorize and pay overdrafts for the following types of transactions:
• Checks and other transactions made using your checking account number
• Automatic bill payments
We cannot authorize and pay overdrafts for the following types of transactions (unless you ask us to by choosing Opt In):
• ATM transactions
• Everyday debit card transactions If you do not authorize us to pay an overdraft for everyday debit card and ATM transactions, your transaction will be declined at the time it is presented if the transaction exceeds your available balance.
Q: What fees will I be charged if FCB pays my overdraft?
Under our standard overdraft practices, we may authorize and pay checks and transactions using your checking account number, and automatic bill payments:
• We will charge you a fee each time we pay an overdraft.
• Also, if your account is overdrawn for five or more consecutive business days, we will charge an additional fee per day.
• There is no limit on the total fees we can charge you for overdrawing your account.
Q: What if I want FCB 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, you must either complete and submit the Overdraft Advantage application or stop in to see us.
Q: Are there other ways to have my overdrafts paid?
Yes! You can apply for our Overdraft Advantage service, which allows you to overdraw your account up to a predefined limit. Or, if you prefer, you can link your savings account with us to your checking account, which will automatically transfer money into your checking account from savings in the event of an overdraft. Ask us about these additional options. (Linking your savings or other accounts for automatic transfers may require additional authorizations).
Q: What happens if I do nothing?
If you do nothing, we will decline debit card purchases and ATM transactions if they exceed the available balance in your account. You can change your mind, however, and Opt In at any time.
Q: What if I want to Opt Out of the ATM and debit card transactions?
You can Opt Out at any time. Simply contact any FCB Bank Location.
Q: How can I Opt In?
You can authorize overdraft services by choosing Opt In and completing the Overdraft Advantage application, which can be found here or at the nearest FCB location.