Debit Card Opt In
NEW Overdraft Rules for Debit & ATM Cards!

SIGN UP NOW FOR ATM/DEBIT CARD OVERDRAFT SERVICES!
 
New Federal Reserve rules give debit and ATM card users additional options regarding overdrafts. In the coming months, banks, credit unions, and other financial institutions must offer you the ability to make decisions about overdraft services for transactions made with your debit card or ATM cards.
 

What is an Overdraft?

Overdraft is a term used when withdrawals made from a deposit account are more than the available funds, which result in a negative balance.  Typical transactions that could cause an overdraft include checks written, automatic payments or transfers, debit card purchases, or ATM withdrawals. 

Effective August 15, 2010, westbury bank must comply with new rules that address debit card/ATM overdraft services.  Two major changes that will impact payment of your transactions that could cause an overdraft on your account are:
 
  • westbury bank is prohibited from charging overdraft fees on ATM or one-time debit card transactions that cause an individual's account to overdraw.
  • Account holders must "opt-in" to allow overdrafts to be paid and fees to be charged on their account.
It is important to note that this new rule does not affect overdraft services that may be in place with regard to checks and automatic payments that may trigger an overdraft.  For more information on overdraft "opt-in", please click here.