Grand Bank for Savings, FSB. Member FDIC.

COVER ME NOW OVERDRAFT PRIVILEGE ATM & DEBIT CARD TRANSACTION OPT-IN & OPT-OUT FORM 

If you elect to opt-in to Cover Me Now Overdraft Privilege for ATM and debit card transactions, Grand Bank for Savings, FSB (Grand Bank) may pay ATM and debit card transactions into overdraft.  This notice explains Grand Bank’s standard overdraft options, fees charged for overdrafts, and the impacts of your choice.   

What do you need to know about overdrafts?  An overdraft generally occurs when there is not enough money in your account to pay for a transaction, but we pay (or cover) the transaction.  We have standard Cover Me Now Overdraft Privilege coverage that automatically comes with your account.  We also offer linked Grand Bank deposit account transfer options, which may be less expensive than utilizing standard overdraft options.  Please contact Grand Bank at 800-300-1467 or visit our website at grand.bank if you would like to learn more about transfer options. 

What are Grand Bank standard practices that come with my account?  Grand Bank authorizes and pays overdrafts for the following types of transactions:   

• Checks and other transactions made using your checking account number; and 
• Automatic bill payments. 

We cannot not extend overdraft coverage to the following types of transactions unless you specifically ask us to (i.e., opt-in) for: 

• ATM transactions; and 
• Debit card transactions. 

NOTE: We pay overdrafts at our discretion.  This means we do not guarantee 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 Grand Bank charge me if my overdraft is paid? 

• We will charge you a fee of $10 each time we pay an overdraft. 
• Overdraft charges are limited to three (3) per day. 
• We won’t charge you an overdraft fee for transactions less than $10. 
• We won’t charge you an overdraft fee for any single transaction resulting an overdraft balance of less than $10. 

What if I want Grand Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?  If you want us to authorize and pay overdrafts for ATM and debit card transactions, please select “Yes, Add Privilege” and we will record it in our database.  Selecting “Yes, Add Protection” you are affirmatively stating you DO want Grand Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions.  By selecting this option, you understand Grand Bank will authorize and pay overdrafts for ATM and debit card transactions at its discretion, and charge overdraft fees when Grand Bank pays such transactions. 

What if I DO NOT want Grand Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?  If you do not want us to authorize and pay overdrafts for ATM and debit card transactions, simply select “No Thanks” and you will be opted out of the Privilege.  By selecting “No Thanks”, you understand Grand Bank may elect to either decline or authorize and pay overdrafts for ATM and debit card transactions (if Grand Bank elects to proceed with authorization and payment, you will not be charged a fee). 

IMPORTANT:  This form is for you to keep.  Please print a copy for your file.  Your electronic selection will be captured by our database.  The default election on your Grand Bank account will be “Opt-Out” for ATM and debit card transactions unless you voluntarily opt-in.   

You may revoke your consent at any time. If you change your mind later, please call us at 800-300-1467 or visit our Branch located at 204 Westover Drive, Hattiesburg, MS 39402.  We will keep your Opt-In or Opt-Out decisions logged in our database.  Please note that it may take up to three (3) business days to process your Opt-In or Opt-Out election for ATM and debit card transactions.   

By submitting this form, I hereby certify and: 

(i)  acknowledge I have previously given consent to receipt of electronic communications; and

(ii) affirmatively notify and instruct Grand Bank for Savings, FSB to update my account records to reflect my decision regarding payment of overdrafts on my ATM and everyday debit card transactions.tion