For clients who manage their accounts responsibly, Tompkins Trust Company provides an Overdraft Courtesy feature as part of our standard overdraft practices for personal checking accounts.
Overdraft Courtesy may serve as a safety net for your account. In the event you don’t have sufficient funds available to cover a transaction, we may, at our discretion, advance funds to pay it, and our standard overdraft fee of $30 would be charged. Many customers who have had occasion to use Overdraft Courtesy appreciate that it prevented the embarrassment and inconvenience of a declined transaction, even though there was an overdraft fee.
A new federal regulation requires customers to make a choice regarding the overdraft practices for their everyday debit card and ATM transactions. With increasing use of debit cards and ATMs for casual transactions, the new regulation is intended to ensure that consumers understand the overdraft practices and fees for these transactions.
It’s your choice. We are providing this information to help you make an informed decision.
Here’s what is changing for everyday Debit Card and ATM transactions after August 13:
In order for a bank to extend its standard overdraft practices, such as Overdraft Courtesy, to cover an everyday debit card or ATM transaction, it must have the client’s permission, called an Opt-In, on file.
If you Opt-In:
We may continue to extend Overdraft Courtesy to approve any of your transactions, including everyday debit card and ATM transactions, and our standard overdraft item fee of $30 would apply.
If you don’t Opt-In:
After August 13, for accounts opened prior to July 1, 2010, if we don’t have your Opt-In on file, we will no longer be able to extend Overdraft Courtesy to approve an everyday debit card or ATM transaction if you don’t have sufficient available funds. Regretfully, your transaction will be declined.
Questions?
If you have any questions, our bankers are ready to assist. Stop by your branch, or call our Customer Care Center at 1-888-294-4119. You may also find the Q & A here to be helpful.
Here’s how to Opt-In:
When you’re ready to Opt-In, you can click here to complete our convenient opt-in form online, call us at 1-888-294-4119, stop by your branch or print and mail the completed opt-in form to
Customer Care Center
1441 Route 22
Brewster, NY 10509
Thank you for choosing Tompkins Trust Company