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Reg E Opt In | Opt Out

What You Need to Know about Overdrafts and Overdraft Fees?

We value our banking relationship with you and want to inform you of a regulatory requirement that affects certain debit card services that Bank of Yazoo offers its customers and the mandatory “opt-in” requirement to continue receiving some of those services.

You are urged to carefully read the following information regarding the Bank’s standard overdraft practices. We are no longer  able to authorize and pay overdrafts for your ATM transactions and everyday debit card transactions unless you have asked us to do so by opting in to receive this overdraft service. Therefore, if you have not opted in and you do not have sufficient funds in your account at the time of a transaction, the Bank will be required to decline the transaction.

At Bank of Yazoo, we do not encourage overdrafts, but we do realize that there are times in which unexpected expenses, emergencies, or other unforeseen circumstances cause you to need the Bank’s overdraft service. In order for us to offer this service to you for ATM and everyday debit card transactions, we must receive your opt-in instructions by one of the methods indicated below. Likewise, you may also opt out of the overdraft service at any time. You will not be charged a fee for choosing to opt in or opt out of the overdraft service.

An overdraft occurs when you do not have enough money in your account to cover a transaction; but we pay it anyway. We can cover your overdrafts in two different ways:

  1. We have standard overdraft practices that come with your account.
  2. We also offer overdraft protection plans, such as a link to a savings or other account or an overdraft line of credit (subject to credit approval). These options may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions, unless you ask us to (see below):

  • ATM transactions
  • Everyday debit card transactions

PLEASE NOTE:  We pay overdrafts at our discretion, which means we do not guarantee we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Bank of Yazoo pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $35 each time we pay an overdraft.
  • There is no limit on the total fees we can charge you for overdrawing your account; however, for items that are paid through the Bank’s automated overdraft system, we will only charge you an overdraft fee for three (3) of those items per day for a total of up to $105.
  • We will not charge you an overdraft fee if the available balance to pay items is overdrawn by less than $10. 

What if I want Bank of Yazoo to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, please complete the fields below. You may also visit any Bank of Yazoo location, call an Account Services Representative at (662) 751-1006, or mail your request to Bank of Yazoo; Attn.: Account Services; P. O. Box 600, Yazoo City, MS 39194.

Registration

I want Bank of Yazoo to authorize and pay overdrafts on my ATM and everyday debit card transactions on the accounts indicated below.

If you have consented for Bank of Yazoo to authorize and pay overdrafts on your ATM and everyday debit card transactions and wish to revoke the consent on the accounts indicated below at this time, please check this box.