Personal Banking
Important Changes to Your Accounts
What you need to know about Changes to your Checking Account!
Recent changes in Regulation E, or the Electronic Funds Transfer (EFT) Act, may affect how you use your current checking account. Beginning August 15, 2010, Sperry can no longer allow our members to overdraw their checking accounts via ATM or everyday debit transactions (and charge a fee) without their consent or “opt-in”. Note, we may continue to cover checks and electronic transfers with our Overdraft Privilege service.
How does this impact me?
If you do not "opt-in" before August 15th, your debit card transactions and ATM withdrawals will be declined when funds are not available in your account to cover the transaction. If you opt-in you would be covered in situations like the following.
- You've got a cart full of groceries for your family, and you don't have your checks on you. Would you want your debit card to work, even if you're short just $20?
- You're at the 24-hour pharmacy at 3 am because your child is sick. You know you don't have the money for the prescription in your account, but you get paid in two days. Would you want your debit card to be approved?
If you “opt-in” to our Courtesy Pay Protection, your debit card would be approved! Overdraft Protection is a service that provides many members with peace of mind and added convenience.
How can you Opt-in?
Complete the "Opt-in" Form. Mail, fax or bring it to any Sperry Branch Location.
