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Dear Customer,
An important regulatory
change is coming that will impact your future debit card usage and ATM
withdrawals. In short, to continue to receive the benefit of the overdraft
protection you are currently receiving on ATM and everyday debit card
transactions, you will be required by law to “opt-in” or agree to the terms and
conditions of the overdraft coverage program.
Currently, when you use your ATM or debit card, you have enjoyed the benefit of
being allowed to overdraw your account to avoid embarrassment, take care of an
emergency, or withdraw extra funds when you need them most. Under the new
Federal Reserve rule, The Bank of Kremlin has chosen to provide you with the
option to overdraw your account if funds are not available when it comes to an
ATM or everyday debit card transaction. You now have the availability to opt-in
and continue to receive overdraft coverage.
Should you decide to
“opt-in” to receive continued overdraft coverage, your current level of
overdraft protection will continue without disruption under the current terms
and conditions. Should you decide not to “opt-in”, or no longer receive
overdraft coverage protection on ATM and everyday debit card transactions, these
items will be returned unpaid beginning August 15, 2010.
Additionally, if you do not
provide your overdraft consent selection by August 15, 2010, your account will
no longer include overdraft coverage for ATM and everyday debit card
transactions. To provide your overdraft consent selection, please click the
link below and complete the consent form, feel free to contact us by phone at
(580) 874-2244 or your local branch.
As always, we make it a
priority to know our customers and for our customers to know us. Please visit
one of our five convenient locations if you have any questions about this new
ruling or about overdraft protection. We are happy to help.
Sincerely,
Jerald L. Barr
President/CEO
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