An overdraft occurs when you do not have enough money
in your account to cover your withdrawal.

This can include many types of withdrawal transactions such as checks you write as well as ATM and debit card transactions. It also includes ACH transactions, a check converted by a merchant into an ACH transaction, automatic bill payments, and internet banking bill payments. An ATM transaction means all transactions originating at an ATM, whether our ATM or someone else’s. (ATM transactions also include withdrawals, bill payments, inter-account transfers, and postage stamp purchases, for example.)

If your withdrawal causes an overdraft, our current action is to:
- Pay your check at our discretion up to $500 (and charge you a fee) or
- Approve your ATM or debit card transaction at our discretion up to $500 (and charge a fee).

1. For qualifying checking accounts we offer a service we call Discretionary Overdraft Privilege Service. (“ODP Service”)

Under that Service we may pay an overdraft at our discretion rather than return a check or an Automatic payment. Currently, we would approve an ATM or debit card transaction that overdraws the account. However, after August 15, 2010 we would decline an ATM or debit card transaction, unless you opt-in.

2. Sweep Service. You can also request us to link your checking account to your savings account to pay any type of overdraft.

The Sweep Service may be less expensive than our ODP Service. To learn more, ask us about our Sweep Service.

Beginning August 15, 2010 we will not approve ATM and Debit Card transactions that
overdraw your account, UNLESS YOU LET US KNOW AND OPT IN. (click button below)

PICK YOUR FLAVOR
What are the Overdraft Services that Fairfield Federal offers?
For qualifying checking accounts you can NOW choose from these options:

Fairfield Federal CLASSIC ODP Service (You may opt-out of automatic ODP Service at any time With Classic ODP Service we may pay overdrafts for these types of transactions: • Checks and other transactions made using your checking account number. • Automatic bill payments • Online banking bill payments

Fairfield Federal PREMIUM ODP Service (You may opt-in of automatic ODP Service at any time With Premium ODP Service we may pay overdrafts for these types of transactions: • All the CLASSIC transaction types listed at left PLUS: • ATM tranactons • Any kind of debit card transactions

This notice is in the form required by the Federal Reserve Board (12 CFR Part 205). This disclosure is related to checking accounts established by natural persons primarily for personal, family, or household purposes; it does not relate to business checking accounts. If two or more people jointly own an account, we are required to treat the affirmative consent of any one of the joint owners as binding all owners of the account. Also, we are required to treat a revocation of affirmative consent by any one of the joint owners as binding all owners of the account. Please see our complete information about our Classic and Premium ODP Services.