Personal Banking

Important Overdraft Changes

As of August 15, 2010, the Board of Governors of the Federal Reserve required banks to discontinue any consideration of discretionary payments for overdrafts on ATM and debit card transactions unless you specifically give us permission to pay overdrafts on a discretionary basis. We refer to this permission as an “opt-in.”

If you choose to opt in, you will receive Cape Cod Five's consideration for making discretionary payments to cover these particular overdrafts. Again, this applies only to ATM and debit card transactions. Please note that as in the past, payments to cover these overdrafts are made only on a discretionary basis depending on the circumstances of each occurrence. There may be a fee each time one of these overdraft items is paid. If you wish to be considered for the discretionary payment of overdrafts, please do one of the following:

Click here for more information on Overdrafts and Overdraft Fees.

• Click here to opt in online.

Or

• Call one of our customer service representatives at 888-225-4636 to opt in.

Cape Cod Five's other options for overdraft coverage are:

• You may link your checking account to a savings or money market account.
• You may attach your checking account to an overdraft line of credit.

These are options whereby you are essentially covering your own overdraft(s).

If you previously opted in to receive Cape Cod Five's consideration for making discretionary payments to cover overdrafts on ATM and debit card transactions, and you now want to opt out, click here.

For more information on all options, you may refer to our Frequently Asked Questions About Overdrafts (FAQs), call one of our customer service representatives at 888-225-4636, or come in to your local Cape Cod Five branch.