Overdraft Opt-In

Beginning August 15th, due to new federal regulations we will no longer be able to provide Courtesy Overdraft coverage on your everyday debit card and ATM transactions if funds are not available in your account. In order to take advantage of this service, you will need to "opt-in" to the program if you want to keep this form of overdraft protection.

Q:  How do I opt-in?
A:  You may notify us by:

1. Calling your local branch or one of our Service Center Representatives at 502/968.3681 or 800/626.2870
2. Stop by one of our branches and complete a form
3. Send us a message through the message board in online banking. To do this simply log in to online banking and select messages in the top right hand corner of the screen and tell us that you wish to opt-in to have your everyday debit and ATM transactions covered. If you have more than one account you will need to tell us which account/s that you want to have covered.  You will receive a confirmation in the mail.

Q:  What changes are being made to Courtesy Overdraft?
A:  Any overdrafts caused as a result of an everyday debit card or ATM transaction will no longer be paid by Courtesy Overdraft unless you complete an opt-in form.  Overdrafts as a result of a check, ACH transaction, or bill payment will continue to be paid, at our discretion, by Courtesy
Overdraft if you have not exhausted your overdraft limit. Standard Courtesy Overdraft fees will apply.

Q:  Why are these changes being made?
A:  The government has mandated these changes.

Q:  When do these changes take place?
A:  :  Courtesy Overdraft will exclude everyday debit card and ATM transactions for checking accounts effective August 15, 2010

Q:  What if I want to continue to have my everyday debit card and ATM transactions covered by Courtesy Overdraft?
A:  To have the Courtesy Overdraft service plus your everyday debit and ATM transactions covered, you will need to opt-in to Courtesy Plus. You will be receiving a form in the mail soon which you will need to sign and return to the branch or by mail.  

Q: I have more than one account/share with Courtesy Overdraft; do I need to opt-in to have my everyday debit card and ATM transactions paid on each one? 
A:  Yes, if you wish to continue having everyday debit and ATM transactions covered on each of your accounts, you will need to opt-in to Courtesy PLUS for each checking account/share separately. 

 Q:  Will I have to opt-in to have my checks paid?
A:  No, if you currently have Courtesy Overdraft, your checks, ACH transactions, and bill payments are considered “recurring” and will be paid as they normally would, if you have not exhausted your available overdraft limit.  Standard Courtesy Overdraft fees will apply.

Q:  What will happen if I do not sign the opt-in agreement (Courtesy PLUS)?
A:  Beginning August 15, 2010, all everyday debit card and ATM transactions that overdraw your account will be declined at the time the card is presented. All checks, ACH transactions, and bill payments will continue to be paid through Courtesy Overdraft as they would normally.  Standard Courtesy Overdraft fees will apply.  

Q:  If my account is joint will both of us have to opt-in to have our everyday debit and ATM transactions paid?
A:  No, only one owner of the account/share must sign.

Q:  What is an everyday debit card transaction?
A:  Any transaction that is not scheduled to reoccur.   For example, you go to a gasoline station and purchase gas for your car, you go to the grocery store to purchase food, you buy lunch at a fast food restaurant, or you make a purchase at a retail store.  These are considered everyday debit card transactions since they are not scheduled to take place on a regular basis (monthly, weekly, etc.) for the same amount of money or on the same date. 

Q:  I pay my electric bill monthly with my debit card is that considered reoccurring?
A:  If you enter the information monthly and it is not set up to occur automatically, it is considered an every day debit card transaction and would not be paid unless you opt-in for Courtesy PLUS.

Q:  I used my debit card to have my telephone bill automatically deducted monthly from my provider, is that considered an everyday debit card transaction?
A:  No, that is a reccurring charge and would continue to be paid if your account
was overdrawn due to that transaction, providing you have not reached your
overdraft limit. Standard Courtesy Overdraft fees apply.

Q:  Does Park Community always authorize and pay items that overdraw my account?
A:  No, Park Community authorizes and pays items that overdraw your account at Park’s discretion, and has the right not to pay any overdrawn item.  Park will authorize and pay these items based on your account history, spending patterns and other factors.  

Q:  What fees apply to Park Community’s overdraft program?
A:  There is no fee for overdraft protection unless you overdraw your account.  A $26 overdraft fee will apply for each item that Park authorizes and pays when you do not have sufficient funds in the account at the end of processing. In addition, if you have exhausted your available Courtesy Overdraft protection, your transaction will be declined and you will be charged standard NSF fees.

Q:  Does Park Community limit overdraft fees?
A:  Yes, Park Community limits overdraft charges for checks, recurring debits, debit card and ATM withdrawals to a maximum of 6 Courtesy Overdraft occurrences in a calendar day.  At that time, if you have not exhausted the available Courtesy Overdraft dollar tolerance, we will continue to pay your overdrafts and no additional fees will be assessed until you have reached the maximum Courtesy Overdraft limit.  If you have exhausted your available Courtesy Overdraft protection, your transaction will be declined and you will be charged standard NSF fees.

Q:  How can I avoid overdraft fee?
A:  The best way to avoid overdraft fees is to closely monitor your account and keep accurate records of you transactions.  You can do this by keeping a check register and listing all of your deposits and withdrawals.  We also offer other resources to monitor your spending including free Online Banking, (Direct Information Access Line (DIAL) and eAlerts.

Q:  Does Park offer overdraft protection options?
A:  In addition to Courtesy Overdraft Park offers Courtesy Overdraft from your Regular Savings account and from an Overdraft Line of Credit.