Overdraft Protection Opt-Out

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.


ATM/Debit Overdraft protection opt out

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 can cover your overdrafts in two different ways: 1) We have standard overdraft practices that come with your account. 2) 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.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts on the following types of items: Checks and other transactions made using your checking account number; Automatic bill payments.

We do not authorize and pay overdrafts on 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 Old Second National Bank pays my overdraft?
Under our standard overdraft practices: We will charge you a fee of $33.00 each time we pay an overdraft; Also, if your account is overdrawn $25.00 or more for 7 consecutive days, we will charge an additional $5.00 each business day after the 7th day; We will not charge you for more than 6 overdraft incidents or occurrences per business day.

What if I want Old Second National Bank to authorize and pay my overdrafts on my ATM and everyday debit card transactions?
If you want to rescind your choice to have Old Second authorize and pay overdrafts on ATM and everyday debit card transactions, complete and submit the following opt out form. You can also rescind your authorization by calling 877-866-0202, write to us at 37 S. River Street, Aurora, Illinois 60506, or stop in at any of our branches.

By clicking submit, I am rescinding my authorization for Old Second to authorize and pay overdrafts on my ATM and everyday debit card transactions. I have read the overdraft protection disclosure and understand that such authorization may result in fees being assessed.

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