Overdraft Privilege Extended Coverage Consent Form

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 another account, which may be less costly than our standard overdraft practices. To learn more, ask us about this plan.

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 First Federal Bank of Louisiana pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $28 each time we pay an overdraft.
  • We will not charge you a fee if the item presented if $5.00 or less.
  • If your account balance remains overdrawn four (4) or more business days, we will charge your account a daily overdraft fee of $5.00 for each of the consecutive business days the account remains overdrawn up to 32 business days, beginning with day four.
  • There is a limit of $168.00 per day on the total fees we can charge you for overdrawing your account.
  • There is no limit on the total fees we can charge you for overdrawing your account.

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

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 800.860.1238, or complete and submit the form below. You can revoke your authorization for First Federal Bank of Louisiana to pay these overdrafts at any time by either of the above methods, or by mailing a written request to: PO Box 1667, Lake Charles, LA 70602. Your revocation must include both your name and your account number so that we can properly identify your account.


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Overdraft Privilege Opt Out Form

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 an Overdraft Privilege program that covers all items except ATM and everyday debit card transactions, or a line of credit, which may be less expensive than our standard overdraft practices. Lines of credit require approval of a completed First Federal Bank loan application. 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 First Federal Bank pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $28 ($35 for eVantage customers) each time we pay an overdraft with a maximum of 6 NSF fees per day. If the account is overdrawn less than $10, no fee will be charged for paying those items. If the account balance is overdrawn $10 or more, item(s) paid, up to the Overdraft Allowable Limit, in an amount of $10 or less will not be charged a fee. Any time you exceed your Overdraft Allowable Limit, normal NSF fee assessments will apply.
  • Also, if your account is overdrawn for 7 or more consecutive calendars days, we will charge an additional $5 per calendar day.
  • There is no limit on the total fees we can charge you for overdrawing your account.

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

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 337-421-1200 or 1-800-860-1238, visit ffbla.com or complete the form below and present it at a branch or mail it to First Federal Bank, Attn: Call Center, P. O. Drawer 1667, Lake Charles, LA 70602-9982.


 
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