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 a link to a savings account or a line of credit on a loan 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

 

 

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 Bank of Jamestown pays my overdraft?

 

Under our standard overdraft practices:

 

          We will charge you a fee of $25.00 each time we pay an overdraft.

 

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

 

What if I want Bank of Jamestown to authorize and pay overdrafts on my ATM and everyday debit card transactions?

 

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 270-343-3186, visit www.bankofjamestown.com, or complete the form below and bring it to the main office on the square in Jamestown or mail it to PO Box 6, Jamestown, KY 42629.

 

 

 

 

____I do not want Bank of Jamestown to authorize and pay overdrafts on my ATM and everyday debit card transactions.

 

____I want Bank of Jamestown to authorize and pay overdrafts on my ATM and everyday debit card transactions.

 

 

Printed Name: _________________________________________________ Date:__________________________

 

Account Number:_______________________________________________

 

 

_______________________________________________________________________

(Signature)