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, but we pay it anyway. We can cover your overdrafts in two different ways:
the standard overdraft practices that come with my account?
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to:
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
Bank of Erath pays my overdraft?
What if I want Bank of Erath to authorize and pay
overdrafts on my ATM and everyday debit card transactions?
IMPORTANT ACTION NEEDED ON YOUR ACCOUNT!
An overdraft service is provided by Bank of Erath when we sometimes pay a check, debit card transaction, ATM withdrawals or other items when you have insufficient funds and we charge you a fee.
The rule under Regulation E requires you to “opt-in” to this service for one time debit card transactions and ATM transactions. You will need to read the attached notice explaining our overdraft service and sign it and return it to us. If you “opt-in” and later change your mind you will also have the right to revoke this decision. We will still continue our regular overdraft service on checks, ACH transactions and recurring debits.
We encourage you to try our other services that may help you in this area such as a Line of Credit. You can call us at 337-893-3761, 337-937-5816, or 337-685-2310 to learn more about this service or to get more information on the “Opt In” requirement.
It has been our pleasure to serve as your “bank of hospitality” and
we wish to continue to help you in any way possible.