Opt in

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, see below.


Currently, Old Second will automatically authorize and pay overdrafts incurred on checks—and other transactions using your checking account number—as well as on automatic bill payments. What we can no longer automatically authorize (due to a regulatory change that took effect in 2010) are ATM transactions and everyday debit card transactions that result in an overdraft. To authorize those transactions, your prior permission is required. In other words, you need to opt in.


Old Second Bank's discretionary ATM/debit card overdraft protection service is designed with your convenience in mind. After all, its key advantage is providing a safety net in the rare case that you find yourself in an overdrawn position and in need of emergency funds to complete a transaction. The majority of our customers do not overdraw their accounts, and even those who do generally do not do so intentionally or frequently. But on occasion, any customer may find they have made an error in balancing their checkbook or keeping track of their account balance, accidentally putting themselves in an overdraft situation. By opting in and allowing us to authorize transactions despite the overdrawn status of the account—and agreeing to incur any fees that may arise—you gain the peace of mind that you can conduct your personal business and transactions without disruption.


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.