Opt in or Opt out

Old Second is required by federal regulations to ask that you confirm that you want to continue receiving ATM/debit overdraft protection services from us, services we offer to help you manage your checking account. To learn more about the opt-in regulation and to avoid the risk of being caught short, click here. You may also want to visit Checking Navigator, a program developed to help you learn more about avoiding overdraft fees.


Have a question about opting in for ATM/Debit Card Overdraft Protection services? Find your answer here.

What if I do not have a debit card? — If you do not have a debit card tied to your checking account, you do not need to take any action or opt in. Your checking account will still be part of Old Second's standard overdraft protection practices.
What do I have to do if I want overdraft protection on my ATM and one-time debit card transactions? — If you have a debit card tied to your checking account, you will need to opt in by telling us that you want to access Old Second's discretionary ATM/Debit Card Overdraft Protection service for your checking account if you didn't do so when your account was opened.
How do I opt in if I want the service? — You may stop by any of our branches or call 877-866-0202. An Old Second banker will be happy to help you opt in.
Is there a deadline for opting in? — If you opened your account prior to the regulatory change, you needed to opt in before August 15, 2010, in order to avoid any disruption in your ATM/Debit Card Overdraft Protection service. Going forward, you may opt in whenever it suits your needs by contacting the bank at 877-866-0202. One of our bankers will be happy to help you select the option that best suits your needs.
If I have a joint account, do we both have to opt in to access the service? — Only one of the account owners has to opt in. A confirmation letter will then be sent to all of the account holders after one has taken action on the account.
What if I opted in and change my mind? — Any owner of the account can rescind your choice at any time via the web, by writing to us or calling us, or by stopping by one our branches. The option to participate is entirely yours.
What happens if I do not opt in? — If you choose not to opt in to the ATM/Debit Card Overdraft Protection service and you attempt to make an ATM withdrawal or use your debit card for a transaction, your transaction will not be approved unless you have adequate funds in the account to cover the amount of the withdrawal.
Why would I choose to opt in if I do not overdraw my account? — Some people want the security of having overdraft protection on their account for unexpected emergencies. Inadvertent errors in checkbook balancing, delayed deposits and forgotten account transfers can happen to even the most diligent of customers. ATM/Debit Card Overdraft Protection provides the security and peace of mind that if insufficient funds occur, you are covered. There is no charge to opt in and have the ATM/Debit Card Overdraft Protection service. The only time fees would be incurred is if the service is needed and used.
Is there a fee to opt in to the discretionary ATM/Debit Card Overdraft Protection service? — No. There is no fee to opt in. If you use the service by overdrawing your account you will be subject to our standard overdraft fees.
What are Old Second's overdraft fees? — Our overdraft fees for both our ATM/Debit Card Overdraft Protection and our standard overdraft protection service for personal checking accounts are as follows:
  • $35.00 per overdraft item
  • Maximum of 6 overdraft fees per day may be charged
  • $5.00 per day fee is charged if overdrawn more than $25.00 for 7 consecutive days (This $5 fee starts on the 8th day)
Does "Opt in" regulation affect checks or automatic withdrawals from my account? — No. The Regulation E changes related to opting in apply only to ATM withdrawals and one-time debit card transactions. It does not affect the way checks you have written are handled, pre-authorized automatic debit payments (ACH), or recurring debit card transactions.(A recurring debit card transaction, for example, would include a pre-authorized I-PASS replenishment using your debit card information.) Old Second's standard discretionary overdraft protection practices apply to all other types of transactions that might occur—checks, ACH, pre-authorized electronic debits, bill-pay, pre-authorized recurring debit card transactions. For more information, please contact us and we will provide you with a copy of our Customer Overdraft Disclosure.
Does Old Second offer any other overdraft protection options? — Yes. In addition to our standard discretionary service, with our optional ATM/Debit Card Overdraft Protection, the bank offers an overdraft sweep option for our Money Connection customers. Money Connection customers who have an Old Second personal checking account and a Money Builder Savings account, a Money Manager Money Market account or an Optimum Money Market account can authorize us to set up Overdraft Sweep Protection. Contact a personal banker to see if your accounts qualify for this service and what fees, terms, and conditions may apply. There is no fee to have Money Connection Overdraft Sweep protection. Fees only apply if a sweep occurs.
If I am a Money Connection customer and have Overdraft Sweep Protection, why should I opt in to ATM/Debit Card Overdraft Protection? — Because of the way Money Connection Overdraft Sweep Protection works, you should opt in to ATM/Debit Card Overdraft Protection if you want to ensure that your ATM withdrawals and one-time debit card transactions are approved at the time of the transaction. Money Connection Overdraft Sweep Protection automatically transfers money to your connected checking from your savings/money market account if your checking account is overdrawn at the end of the business day. However, if you do not opt in to Old Second's ATM/Debit Card Overdraft Protection and do not have sufficient funds available in your checking account at the time of the ATM or debit card transaction, the transaction will be denied. If you have Overdraft Sweep Protection and have also opted in to the discretionary ATM/Debit Card Overdraft Protection service, however, the transaction may be approved. Funds from your savings or money market account (if available) would be transferred and cover any negative balance in your checking account. You would then avoid the $33.00 overdraft charge and you would only be charged the applicable sweep fee. Your checking account would be brought back to a positive balance automatically.
If I sign up for Old Second ATM/Debit Card Overdraft Protection, will my ATM and debit card withdrawals and charges always go through? — No. This is a discretionary service, and we reserve the right not to pay. However, your account history, as well as your deposit and spending patterns, will determine whether we pay an item. For more information, please contact us so that you may view a copy of our Customer Overdraft Disclosure.
If I opt in to use the ATM/Debit Card Protection service, what would the cut-off time be for making a deposit in order to avoid an overdraft fee? — You would have until the cut-off time (as posted in a branch or on an ATM) of the business day on which the overdraft occurred to make a deposit to cover the negative balance in full. For more information, please contact the bank, and we will provide you with a copy of our funds availability disclosure.
Is there any way the bank can notify or alert me if my checking balance is low or I overdraw my account? — O2 Online Banking (NetTeller) and O2 Mobile Banking are free tools that can help you manage your accounts and check your balances. You can access your account information, set up low balance alerts, and keep track of your daily transactions. To sign up for these free services or for more information about them, please click here.

Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts. The amount of any overdraft plus our overdraft fees that you owe us shall be due and payable on demand. The current overdraft fee is $35.00 per item. Up to six (6) such fees may be assessed per day. In addition, accounts overdrawn $25.00 or more for 7 consecutive days will be charged $5.00 each business day after the 7th day. Fees may be imposed for overdrafts created by check, in-person withdrawal, ATM withdrawal, debit card or other electronic means.