Overdraft Coverage

New Overdraft Coverage Changes

As a courtesy to our customers, River City Bank provides discretionary overdraft service for eligible checking accounts. With this service, items presented against insufficient funds in your account may be paid up to your assigned limit.

Due to new federal regulations, beginning August 15, 2010, we can no longer pay overdrafts for ATM withdrawals and everyday debit card transactions without your prior approval and acknowledgment that you want us to continue to pay these transactions against insufficient funds. 

To continue to receive the benefit of overdraft coverage, you will be required to “opt-in,” or agree to the terms and conditions of the overdraft coverage program.
 

What does this mean to you? 

To continue your current level of overdraft coverage without disruption, “opt-in” today! By opting-in to this service, you will prevent point-of-purchase debit card transactions and ATM withdrawals from being denied in the event that your account has insufficient funds. 

By opting-in, you will receive continued overdraft coverage without disruption under the current terms and conditions. Should you decide to “opt-out,” or no longer receive overdraft coverage protection, insufficient funds will cause one-time debit card transactions and ATM withdrawals to be denied beginning August 15th, 2010. 

If you do not provide your overdraft consent selection by August 15th, 2010, your account will no longer include overdraft coverage for point of purchase debit card transactions and ATM withdrawals.

What you need to know about overdraft 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:

• We have standard overdraft practices that come with your account.
• We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

What are the standard overdraft practices that come with my account?

We 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 (see below):

• ATM transactions
• Everyday debit card transactions
   

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.
 

What fees will I be charged if River City Bank pays my overdraft?

Under our standard overdraft practices:

• We will charge you a fee of $28.50 each time we pay an overdraft.
• You will be charged a fee for each covered transaction which overdraws your account.
  
   

What if I want River City Bank 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, please go here and complete this form and mail it back to the address listed on the form,  or call us at 916-567-7200.
 

What happens if I don’t Opt-in?

If you do not opt-in and authorize us to pay an overdraft, your transaction will be declined. If you choose not to opt-in, no action is required and overdraft protection will be discontinued automatically as of August 15th, 2010.