Opt In Internal

 
What do you mean by “Opt in”?
What’s an everyday/one-time debit card transaction?
What types of ATM transactions are affected?
What happens if I don’t opt in?
What does it mean to be declined?
Once I opt in, can I opt out at a later date?
By opting in, am I signing up to pay overdraft fees?
If I opt in and keep money in my account, will you still charge me?
When does this go into effect?
Does this change affect all forms of payment? 


What do you mean by “Opt in”?
The Federal Reserve has issued new rules that affect the services available on your BankPlus CheckCard or ATM Card. As a BankPlus customer, the new rules require you to tell us if you want us to continue applying overdraft service to your everyday debit card and ATM transactions.  By giving this consent, or “opting in”, you are choosing to allow BankPlus to handle your account activity in the same manner as we always have in the past.  Back to Top

What’s an everyday/one-time debit card transaction?

“Everyday” or “one-time” debit card transactions are the day-to-day purchases you make with your BankPlus CheckCard at the grocery store, gas station, drug store, or wherever you shop.  The new Federal Reserve rules do not apply to debit card transactions that have been set up to recur on a regularly scheduled basis.  Back to Top

What types of ATM transactions are affected?
The new rules apply to withdrawals or transfers made from your BankPlus personal checking account at any ATM.  If you choose not to opt in, you will not be allowed to withdraw or transfer an amount that is greater than the funds available in your account at that time.  Back to Top

What happens if I don’t opt in?
If you choose not to opt in, you are no longer allowing BankPlus to handle your account activity in the same manner we always have.  One-time CheckCard or ATM transactions that may have been previously paid must now be declined if sufficient funds are not available. As a result, you may not be able to make necessary purchases or withdraw cash when needed.  Back to Top

What does it mean to be declined?
If you have chosen not to opt in and you attempt to make a purchase with your BankPlus CheckCard that is for more than the funds available, the merchant will not be able to accept your CheckCard as a form of payment and will decline the purchase.  Back to Top

Once I opt in, can I opt out at a later date?
Yes. You or any joint owner on the account may revoke this consent at any time.  Just stop by a BankPlus office, use the online form, call 1-888-811-PLUS (7587), or mail your request to:

BankPlus
385A Highland Colony Pkwy Ste 110
Ridgeland, MS 39157
Back to Top

By opting in, am I signing up to pay overdraft fees?
We only charge a fee if you use the overdraft service.  If you carefully track your transactions using your check register or e-BankPlus and keep sufficient funds in your account, then you won’t need to use the service at all.  Any overdraft service on your account will be there just for your peace of mind.  Back to Top

If I opt in and keep money in my account, will you still charge me?
Absolutely not!  If you always maintain sufficient funds in your account to cover all of your transactions, we will not charge you any overdraft fees.  Back to Top

When does this go into effect?
The changes will affect new accounts beginning July 1, 2010 and existing accounts beginning August 14, 2010.  Back to Top

Does this change affect all forms of payment?
The new Federal Reserve rules only affect one-time CheckCard and ATM transactions.  All other items such as paper items, like checks, or recurring items will be handled in the same manner as they are now.  Back to Top