Why Opt-In on Reg E?

Federal lawmakers have created new rules governing overdraft protection programs that go into effect on July 1, 2010. As a result, you now have an option concerning whether you want to have our overdraft service cover your ATM and everyday debit card transactions. Please take note that this opt-in rule applies only to ATM and everyday debit card transactions, and does not pertain to overdraft protection services associated with written checks or recurring debit transactions, such as regularly scheduled bill payments.

WHY OPT-IN?
The vast majority of our customers do not overdraw their accounts and incur fees, however life doesn't always go according to plan, and overdrafts do occur. Without overdraft protection, your ATM and everyday debit card transactions may be declined if you attempt to make a transaction without sufficient funds.

For existing accounts: if you do not opt in, beginning August 15, 2010, your ATM and everyday debit card transactions may be declined if we know they will create an overdraft.

For new accounts; if you open a new account on or after July 1, 2010, your ATM and everyday debit card transactions may be declined if we know they will create an overdraft unless you opt-in.

We encourage you to visit with any Reliabank customer service employee if you have any questions regarding this regulation.