Overdraft Protection at Albina Community Bank
“I can’t believe I forgot to deduct that ATM withdrawal – now my account is overdrawn!” An overdraft can happen to anyone – you can make a simple math error or forget to write a transaction down. In either case, the result can be an overdraft. If you find yourself in this type of situation, a transfer from an existing Albina Community Bank checking, money market or savings account can save you an overdraft fee, the embarrassment of a returned item, or a denied transaction, all for just $5 per transfer. An overdraft transfer must be established prior to the occurrence of the overdraft; contact any Albina banker for assistance in setting this up.
Overdraft Privilege Service
What happens if you don’t have the funds available in your Albina accounts and an item or transaction is presented for payment? Albina offers an Overdraft Privilege Service, (ODP), which will allow your account to be overdrawn for a limited period of time. (Eligibility requirements apply; see an Albina banker for additional information.) This service is available on all of our checking accounts, and a fee of $32 applies to each transaction covered. While we encourage responsible management of your finances, we also understand that overdrafts can occasionally happen, which is why we offer this service to our customers.
It’s Your Choice!
A federal regulation recently went into effect that will not allow us to cover one-time debit card transactions or ATM withdrawals using our Overdraft Privilege Service unless you choose to opt-in to the program. The regulation does not apply to checks or recurring debit transactions, such as membership dues, insurance payments, etc. If you choose to opt-in to the Overdraft Privilege Service, your overdraft coverage will continue as it does today. If you choose to opt-out, one-time debit card transactions or ATM withdrawals that exceed the available balance in your account will be denied.
What’s the Next Step?
Contact us via email at firstname.lastname@example.org, by phone at 503-287-7537, or visit any of our branch offices for more information. Or, click here to find a copy of the form you can complete and provide to us to make your choice!