There is a new Federal banking regulation that changes how we help you manage your account as of August 15, 2010.  IT IS IMPORTANT TO READ the following 5 statements to determine how you wish your account to be handled after these mandated changes become law:

1. If you currently use an ATM card or a debit card, then these changes will impact you.
2. The new regulations state that banks can no longer provide overdraft coverage for customers on their ATM and debit card purchases.  That means that if you attempt to withdraw cash or make a purchase using an ATM or debit card after August 15, 2010 and you do not have adequate funds, we will be required to reject your transaction unless you have previously told us to provide you overdraft coverage for these types of transactions.  Even in an emergency, we will have no choice other than to reject your request unless you have previously requested such coverage from First Community.
3. You may request such preferred overdraft coverage on your ATM and debit card transactions.  If you request such coverage, we may charge you a fee when an overdraft occurs as we have previously done in the past.  There is no fee simply for agreeing to have the overdraft protection option in place.
4. If you no longer wish to be protected from the inconvenience and embarrassment of ATM and debit card overdrafts, no action is required.
5. If you wish to continue with ATM and debit card protection, click here for our secure form and opt-in, or you can visit or call any of our convenient banking centers.

Thank you for understanding that these Federal banking changes are occurring at every bank in the nation.  Our goal is to best communicate these changes to you and ensure you have the level of protection you desire.  If you have any questions, please call or visit any of our convenient locations.

WHAT YOU NEED TO KNOW ABOUT OVERDRAFTS AND OVERDRAFT FEES 

• What is an overdraft?
  • An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway.  We can cover your overdraft in two different ways:
    • We have standard overdraft practices that come with your account.
    • We also offer overdraft protection plans such as a link to a savings account, which may be less expensive than our standard overdraft practices.  To learn more, ask us about these plans 
• What are the standard overdraft practices that come with my account?
  • We DO authorize and pay overdrafts for the following types of transactions:
    • Checks and other transactions made using your checking account number
    • Automatic bill payments
  • We DO NOT authorize and pay overdrafts for the following types of transactions unless you ask us to (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 I be charged if First Community Bank pays my overdraft?
  • Under our standard overdraft practices:
    • We will charge you a fee of up to $35 each time we pay an overdraft item. 
• What if I want First Community Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?
  • If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, complete our secure form.  You may also call or visit any of our locations.