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On August 15, 2010, an important federal regulatory change goes into effect that will impact your everyday debit card transactions and ATM withdrawals.1

In summary, the regulation states that First Bank & Trust cannot assume you want us to pay everyday debit card and ATM transactions that would overdraft your account. These transactions will no longer be approved if your account does not have the available balance at that moment. To avoid having your everyday debit card transactions and ATM withdrawals denied due to insufficient funds, you must tell us you want to retain your Overdraft Coverage.

What Does This Mean to You?
If you decide to opt in to continue receiving overdraft coverage, your current level of overdraft coverage will continue without disruption under the current terms and conditions. If you decide to opt out, or no longer receive overdraft coverage protection, insufficient funds will cause ATM withdrawals and one-time debit card transactions to be denied beginning August 15, 2010.

OPT-IN versus OPT-OUT:

OPT-IN: Your current level of overdraft coverage will continue without disruption.

Example: At the grocery store, 2 days before payday, purchases may be approved, at our discretion – even if there isn't enough money in your account at that moment.

OPT-OUT: Starting August 15, 2010, insufficient funds will cause ATM withdrawals and one-time debit card transactions to be denied.

Example: At the sales counter, a purchase attempted without sufficient funds to cover the full transaction amount would be denied. Funds requests would also be denied at the ATM machine.

If you do not respond, your account will automatically no longer have overdraft coverage for ATM withdrawals and one-time debit card transactions effective August 15, 2010.

How to Keep Your Overdraft Coverage.
To avoid circumstances similar to those described above, you must take action by August 15, 2010.

You can opt in by using any of these simple methods2:

  1. CLICK HERE to make your selection using our online form.
  2. Print and complete the OVERDRAFT PROGRAM OPT-IN FORM (PDF),
    and then mail it to:
    First Bank & Trust
    ATTN: Deposit Operations
    PO Box 5057
    Brookings, SD 57006
  3. Visit a bank branch.
  4. Call us toll-free at 1.800.843.1552.

We’re Only a Click or Phone Call Away.
If you have any questions, please feel free to click on our "Live Chat" link or call us at 1.800.843.1552 to speak to a representative during business hours.

1. Includes ATM transactions and one-time debit card transactions, not recurring debit card transactions set up to bill automatically (like a monthly utility or a gym membership).
2. A confirmation will be sent to you before this service is activated.

CLICK HERE for a list of Frequently Asked Questions (FAQs).