Due to recent regulatory changes it is now necessary that you opt-in for the payment of everyday point-of-sale and ATM transactions in cases where such payment will result in your account being overdrawn. If you wish to continue authorizing Homeland Federal Savings Bank to pay such transactions after July 1, 2010, you must opt-in. If you do not opt-in your point-of-sale and ATM transactions will be denied if you do not have sufficient funds to cover them.
WHAT YOU NEED TO KNOW ABOUT OVERDRAFTS 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:
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, 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
After August 15, 2010 we will 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.
If we do not authorize and pay an overdraft, your transaction will be declined.
What fees will I be charged if Homeland Federal Savings Bank pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $28.00 each time we pay an overdraft
- There is a limit of $140.00 per day on the total fees we can charge you for overdrawing your account
What if I want Homeland Federal Savings 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 after August 15, 2010, call 1-800-960-3456, OR download our opt-in form HERE ( ADOBE PDF VERSION – MICROSOFT WORD VERSION ) and either present it at a branch or mail it to: P.O. Box 250, Columbia, LA 71418. For faster service, you can also opt-in by completing the form below.