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Overdraft Protection Opt-in Form

THIS NOTICE IS REQUIRED BECAUSE OF A RECENT CHANGE IN GOVERNMENT REGULATIONS.

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 one or more overdraft protection plans, such as a line of credit "Checkmate" or a link to another . account "Sweep", which is 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 using your checking account number
• Automatic bill payments

 

Commencing August 15, 2010, 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 Baybank pays my overdraft?
Under our standard overdraft practices:

• We charge a fee of $25.00 per item each time we pay an overdraft.
• The maximum number of overdraft fees that we can assess is limited to $125.00 per day.
   

What if I want Baybank to authorize and pay overdrafts on my ATM and everyday debit card transactions?
I! you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, please choose one of the following to opt in:
 

1. Call 906-428-4040
2. fill out form below
3. complete this PDF form and mail to Baybank, P.O. Box 191, Gladstone, MI 49837
4. complete this PDF form and deliver to one of our 4 locations

 Download Opt-In PDF form here.

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I want Baybank to authorize and pay overdrafts on my ATM and everyday debit card transactions with respect to the account identified below.
Please only enter the last 3 digits of the account number you wish to opt in for. If you have one or more applicable accounts you must submit them separately.  

 

 

Full Name
Date
Account Number