Reg E Opt-In/Opt-Out Form

What you need to know about Overdrafts and Overdraft fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. 

We determine if you have enough money in your account to cover a transaction as follows:

We consider enough money to be your account's current balance. Your account's current balance (sometimes called the ledger balance) is the balance in your account at the close of the current business day. The current balance does not include outstanding transactions (such as checks that have not yet cleared or electronic transactions that have been authorized, but have an effective date in the future).

We can cover your overdrafts as follows:

We have standard overdraft practices that come with your account.

We also offer one or more overdraft protection plans which may be less expensive than our standard overdraft practices, such as the following (to learn more, ask us about these plans):

• A line of credit
• A link to another account

This notice explains our standard overdraft practices.

What are our standard overdraft practices that come with your account?

We do authorize and pay overdrafts for the following types of transactions:

• Checks
• Checks and other transactions using your checking account number
• Automatic bill payments
• Recurring debit card payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us (see below):

• ATM transactions
• Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that 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 be charged if Eastern Colorado Bank pays my overdraft?

• Under our standard overdraft practices we charge the fee of $32.00 each time we pay an overdraft
• Limit to 6 per day for maximum of $192.00 (limit not applicable for Simple Business and Business Analysis Checking)

What if I want Eastern Colorado Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions please fill out the Election Form below and click the submit button.

A paper copy of this disclosure can be obtained at one of our branch locations or by calling us at (866) 210-0460.