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 a link to a savings account and a personal overdraft protection line of credit which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
This notice explains our standard overdraft practices.
What are the standard overdraft 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
Until August 15, 2010 we will authorize and pay overdrafts for the following types of transactions:
· ATM transactions
· Everyday debit card transactions
Beginning August 15, 2010, we will not authorize and pay overdrafts for these 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.
If we do not authorize and pay an overdraft, your transaction will be declined.
What fees will I be charged if First National Bank pays my overdraft?
Under our standard overdraft practices:
· We will charge you a fee of up to $23 each time we pay an overdraft.
· There is no limit on the total fees we can charge you for overdrawing your account.
What if I want First National Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions beginning August 15, 2010?
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions beginning August 15, 2010, call (800) 899-8001, complete the form below, or complete the PDF version of this form available HERE and bring to your local branch or mail to: First National Bank/ PO Box 267/ Crowley, LA 70527.
EFFECTIVE AUGUST 15, 2010