Important Information

Customer Notifications

New Overdraft Rules for ATM/Debit Cards

May 20, 2010

Effective August 15, 2010, the bank must receive your consent to pay ATM transactions and debit purchases that will result in overdrawn account fees.

The new regulatory requirement applies to:

• any ATM withdrawal at both CVB and other bank machines;
• all transactions originating at an ATM that overdraw your account, not just withdrawals;
• any one-time debit transaction including point of sale, online, or telephone purchase.

This coverage does not apply to:

• other types of debits such as checks, automated clearing transactions, or recurring debit card transactions.

Your Options

• You will have the option to “opt in” for coverage of these items and allow us to charge you a fee.
• If you choose to “opt out” of this coverage or do not respond, all specified transactions that will overdraw your account will be returned and you will not be charged a fee.
• You have the right to revoke your consent or “opt in” at any time.

The overdraft coverage does not guarantee that the bank will pay your overdrafts. If you elect to “opt in,” then we may pay these items and charge the associated fees.

Please read the consent form carefully and determine which option is best suited for your account. You may reply to the bank by returning the signed consent form at your local branch, notifying us by phone, or notifying us via email.

Previous Notifications

2010
5/20/2010	New Overdraft Rules for ATM/Debit Cards