Overdraft Advantage

As a valued customer, one of the services we provide to you is our Overdraft Advantage. This service is designed to help you in those rare occasions when there are not sufficient funds in your account to pay a transaction you recently completed. In those cases, we will advance funds, creating an "overdraft" or a negative balance in your account. The overdraft is then typically repaid with your next deposit. You may have occasionally enjoyed the benefits of overdraft coverage and we want to make sure you continue to receive those same benefits.

Due to recent changes in federal banking regulations, we are now required by law to obtain your written permission before we can continue to cover ATM and one-time debit card transactions. If you do not "opt in", by July 1, 2010, our Overdraft Advantage will not apply to ATM or one-time debit card transactions. These transactions will be declined when you do not have enough money in your account. The information below provides you with the information you'll need to make an informed decision on whether our complete overdraft courtesy services are right for you.

What You Need to Know about Overdrafts and Overdraft Fees

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 account, which 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 
• 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 Logansport Savings Bank pays my overdraft?
Under our standard overdraft practices:

• We will charge you a fee of up to $30 each time we pay an overdraft.
• There is no limit on the total fees we can charge you for overdrawing your account.

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

• Call 574-722-3855 and ask to speak to someone in New Accounts.