Extended Overdraft Coverage :: Personal :: North Middlesex Savings Bank

Opt In

Recently, the Federal Reserve issued a regulation requiring banks to give customers the choice of Opting In to allow overdrafts to be paid on ATM or debit card transactions or Opting Out, which means overdrafts would not be paid on ATM or debit card transactions.

Overdraft Protection Advantage covers your check overdrafts up to $500. This protection may be extended to include your ATM withdrawals and debit card purchases.

IF YOU OPT IN: Your debit card purchases or ATM transactions may be authorized, even if there are not enough funds in your account to cover the transaction. If we authorize an ATM or one-time debit card transaction that causes your account to fall into a negative balance, you will incur our normal overdraft (OD) fee of $27.00 as set forth in our Schedule of Fees. There is NO FEE to have Overdraft Protection Advantage on your account and there is NO FEE if you never use it.

IF YOU OPT OUT: If you choose to Opt Out, Overdraft Protection Advantage will not be available for any ATM or one-time debit card transaction that may cause your account to reach a negative balance. If there are insufficient funds in your account, the debit card or ATM transaction will be declined.

If you wish to have Overdraft Protection Advantage available for debit card purchases or ATM withdrawals, you must Opt In by completing the consent on the bottom of this page; visiting the branch nearest you or calling us at (978)772-3306.

North Middlesex Savings Bank Consent Form for Overdraft Services

EXPLANATION OF OVERDRAFT COVERAGE

Your Right to Request Overdraft Coverage

We will not pay your overdrafts for ATM withdrawals and one-time debit card purchases you make at a store, online, or by telephone, unless you tell us you want overdraft coverage for these transactions by Opting In. Even if you do not request overdraft coverage for ATM withdrawals and debit card purchases, we may still pay your overdrafts for other types of transactions, including checks.

Having overdraft coverage does not guarantee that we will pay your overdrafts. If we decide to pay an overdraft, you will be charged fees as described below.

Overdraft coverage differs from other overdraft services we offer, such as linking your account to another account with us or an overdraft line of credit. See below for more information, including how to contact us if you want overdraft coverage to apply to your ATM withdrawals and one-time debit card purchases by Opting In.

Overdraft Fees

· We will charge you a fee of $27.00 each time we pay an overdraft.

· There is no limit on the daily fees we can charge you for overdrawing your account.

Other Ways We Can Cover Your Overdrafts

We offer other ways of covering your overdrafts that may be less expensive, such as linking your account to another account with us or an overdraft line of credit. Contact us to learn more about these options or to apply for an overdraft line of credit.

How to Request Overdraft Coverage or Get More Information

To request overdraft coverage for your ATM withdrawals and one-time debit card purchases by Opting In, or for information about other alternatives we offer for covering overdrafts, please:

To Opt In on-line: Complete the encrypted form below and click submit.