271 GREENWOOD ST, P.O. BOX 70505, WORCESTER, MASSACHUSETTS 01607
TELEPHONE (508) 943-1433 1-800-962-4452 FAX (508) 943-7932
DEBIT/ATM Card Overdraft Privilege Opt-in Form
What You Need to Know about Overdrafts and Overdraft Fees
On November 12, 2009, the Federal Reserve Board published changes to the Regulation E (Electronic Fund Transfers) to give consumers greater choice regarding their financial institution's payment of overdrafts for ATM and one-time debit card transactions.
One-time debit card transaction - Include signature and PIN transactions at the point-of-sale, in an online transaction, or in a telephone transaction using your card.
Overdraft Privilege Services - A service under which a financial institution assesses a fee or charge on a members account held by the institution for paying a transaction when the member has insufficient funds in the account. This excludes lines of credit and automated transfers from share to share.
We also offer other overdraft protection plans, such as a link to a savings account, or an overdraft line of credit; which may be less expensive than our standard overdraft privilege practice. To learn more, call us at 508-671-5140 or stop into a branch.
This notice explains our standard Overdraft Privilege practices.
What are the standard Overdraft Privilege practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
We will not authorize and pay overdrafts for the following types of transaction unless you give us your authorization 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 the overdraft, your transaction will be declined.
What fees will I be charged if Webster First Federal Credit Union pays my overdraft?
Under our standard Overdraft Privilege practice:
What if I want Webster First Federal 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 by selecting "I want" Webster First FCU to authorize and pay overdrafts and ATM's.
I HAVE READ AND AGREED TO THE FOLLOWING OPT-IN/OUT TERMS AND CONDITIONS ABOVE.