Important Information Affecting Your Checking Account
Dear AmeriServ Customer,
If you use your ATM or debit card for withdrawals or purchases, you could be affected by recent government regulations that require the bank to have your permission to continue your overdraft services on these types of transactions. In short, to continue to receive the benefit of or discretionary overdraft service, you will be required to “opt-in.”
What does this mean to you?
Should you decide to opt-in to receive discretionary overdraft coverage, we will apply our overdraft service - Overdraft Defender® - under the current terms and conditions. Should you decide to "opt-out," or no longer receive our discretionary overdraft service, insufficient funds will cause your one-time debit card transactions and ATM withdrawals to be denied.
I would like Overdraft Defender® applied to my ATM and debit card transactions as needed. To opt-in, select "continue" below.
An overdraft occurs when you do not have enough money in your account to cover a transaction (checks, check card, ATM, withdrawals, etc), but we may pay it anyway through our discretionary overdraft service. 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 on some checking products, such as a link to a line of credit or savings account. To learn more, ask us about these plans.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts - at our discretion - for the following types of transactions:
• Checks and other transactions made using your checking account number
• Automatic bill payments made using your checking account number or check card number
We do not authorize and pay overdrafts for the following types of transactions unless
you ask us to by "opting-in" for the service (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 AmeriServ pays my overdraft?
Under our standard overdraft practices: We will charge you an overdraft fee of $37.00 each time we pay an item that results in a negative account balance up to a maximum of 6 items on the day of the overdraft.We will not charge an overdraft fee on items creating a negative account balance of $2.00 or less.Also, if your account is overdrawn for three or more consecutive calendar days, we will charge an additional $12 for each three day period.If your account is closed by the bank due to having negative balance, we will charge an additional $25 processing fee.There is no limit on the total fees we can charge you for overdrawing your account.
What if I want AmeriServ to authorize and pay overdrafts on my ATM and everyday check card transactions?
If you want us to authorize and pay overdrafts on ATM and everyday check card transactions, complete the form above and click submit.
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