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Your Debit Card May No Longer Work The Way You Expect

A new government regulation may impact the way your use your debit card. Beginning on August 15, 2010*,  your everyday debit card purchases at grocery stores, gas stations, pharmacies and so on, as well as your ATM transactions, will no longer be covered automatically by Bounce Protection services. That means if there is not enough money in your account or if the funds are not yet available, your card will be denied. If you want to keep Bounce Protection service on your account for your everyday debit card purchases and ATM transactions, you will need to specifically request it. If you have not yet given us your opt-in request, call us at (719) 347-2727, log on to your FSB internet banking account and send us a secure e-mail indicating your desire to opt-in, click here to print, complete, and mail the opt-in form, or come in to your local branch.

* The effective date of the change is August 15, 2010 for accounts opened before July 1, 2010. For accounts opened after July 1, 2010 the effective date of the change is July 1, 2010. Beginning August 15, 2010, we will not authorize and pay overdrafts on ATM and everyday debit card transactions without account holder consent. An overdraft (OD) fee or insufficient funds (NSF) fee of up to $25.75 will be charged for covering overdrafts that result in a negative balance at the end of the day. Overdrafts may be created by check, ACH, online banking transactions, phone transactions or other electronic means. Recurring debit card transactions (payments that are set up to bill and pay automatically), such as an automatic draft from your health club or insurance company, may continue to be covered by your overdraft service. Once an overdraft has occurred you are required to bring your account to a positive balance within thirty days. We reserve the right not to pay if your account is not in good standing. Contact us if you have questions.