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Overdraft & Non-Sufficient Funds Fees

Important Information and Opt Out Form

 

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 or small overdraft credit lines, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans by calling 707.524.3000 or 800.995.4066 or by visiting us at any branch.

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

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.

If we do not authorize and pay an overdraft, your transaction will be declined.

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

Under our standard overdraft practices:

  • We will charge you a fee of up to $32 each time we pay an overdraft in excess of five dollars. The fee for the first overdraft in a rolling 12-month period is reduced to $25.
  • We limit the total fees we can charge you for overdrawing your account to 5 items a day or $175.
  • When your account is overdrawn on 5 consecutive business days, we may charge a one time Overdraft Extension Fee of $15. If an everyday non-recurring debit card transaction or an ATM transaction, for which you did not agree to our overdraft practices, is the transaction that causes your account to become overdrawn, we do not start the 5 business day period.

What if I do not want Exchange Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you do not want us to authorize and pay overdrafts on ATM and everyday debit card transactions after August 13, 2010, complete the form below electronically or print it and present it at any Exchange Bank branch or mail it back to us at the address listed below or call 707.524.3000.

Alternative Ways to Opt Out

By Phone: Our customer service representatives are standing by if you prefer to Opt Out by phone.
Call: 800.995.4066 or 707.524.3000.

By Mail: If you prefer to Opt Out by mail, please print this form and send it to:

Exchange Bank
P.O. Box 403
Santa Rosa, CA 95402

Important note: please DO NOT complete Security word if sending form by mail.

In Person: We are always available to help. Sometimes it’s easier to talk about things in person, so please visit any of our branches. Our representatives are ready to assist you.