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What You Need to Know about Overdrafts and Overdraft Fees
New regulations imposed by Congress will impact all consumers. These regulations give each consumer a choice on how to manage their accounts.

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 Comfort Zone Overdraft Practices, (our standard overdraft practice) that comes with your account.
  2. We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
This notice explains our Comfort Zone 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 on your everyday debit card transactions (see below):
ATM transactions
Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that 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 Farmers & Merchants State Bank pays my overdraft?

Under our Comfort Zone overdraft practices:
  • $25.00 for all items returned and/or paid, maximum of $125.00 per day
  • $50.00 for checking accounts overdrawn for 45 consecutive days
What if I want Farmers & Merchants State Bank to authorize and pay overdrafts on my everyday debit card transactions?

Effective July 1st, 2010, unless you request this specific overdraft coverage, we will not be allowed to pay overdrafts and assess a fee on everyday debit card transactions.

If you want us to authorize and pay overdrafts on everyday debit card transactions, complete this form and click “Submit”. You may want to print this page for your records.

You may call us toll-free at 888-478-3007 or visit any of our branches for more information

Action Required: To retain your courtesy overdraft service on everyday debit card transactions, you must complete this form and click “submit”.

I do not want Farmers & Merchants State Bank to authorize and pay overdrafts on my everyday debit card transactions.
I want Farmers & Merchants State Bank to authorize and pay overdrafts on my everyday debit card transactions.
Name:
Date:
Last Four Digits of Account Number(s):

 
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Waterloo - Marshall Wisconsin
1-888-478-3007

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