Opt-In Overdraft Protection
Due to recent changes in banking regulations, we are required to obtain your consent to continue providing coverage on
ATM and everyday check card transactions that may overdraw your account.
The information below will help you make an informed decision on whether overdraft services are right for you.
WHAT YOU NEED TO KNOW ABOUT OVERDRAFTS
AND INSUFFICIENT FUNDS FEES
EFFECTIVE AUGUST 15, 2010*
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we choose to pay it
anyway, creating a negative balance in your account. The overdraft is then typically repaid with your next deposit.
We can cover your overdraft in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer an overdraft protection plan where your account is linked to a savings account, to cover transactions
when you overdraw your account. This plan may be less expensive than our standard overdraft practices. To learn more,
ask us about this plan.
This notice explains our standard overdraft practices.
STANDARD OVERDRAFT PRACTICES
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):
- ATM transactions
- Everyday check card transactions
Our policy is to attempt clearing largest before smaller transactions. We pay overdrafts at our discretion, which means we
do not guarantee that we will always authorize and pay any type of transactions. If we do not authorize and pay an overdraft,
your transaction will be declined.
INSUFFICIENT FUNDS FEES
Under our standard overdraft practices, we will charge you a fee of $33 each time we pay an overdraft. If after five
consecutive business days your account is still overdrawn by more than $10, we will charge you $5 each day until your account
has a positive balance. There is no limit on the total fees we can charge you for overdrawing your account.
AUTHORIZATION TO PAY OVERDRAFTS ON ATM AND VISA CHECK CARD TRANSACTIONS
If you want us to authorize and pay overdrafts on ATM and everyday check card transactions, please do one of the following:
- Call us locally at 314-878-3523 x4317 or toll free at 1-888-649-3320 x4317
- Complete the form below and click the "Send" button.
* Required Field
Yes, I want Pulaski Bank to authorize and pay overdrafts
on my ATM and check card transactions.
Your Full Name*
Your Email Address
Account Number (last 4 digits)*