What do the new federal rules change?
A. The new rules mostly affect debit card transactions, specifically ATM transactions and everyday debit card purchases at a store or on the internet. The new rules require that you must expressly agree, that is, “opt-in”, before Peoples Bank may charge you a fee for paying an ATM or everyday debit card transaction that will cause an overdraft on the account. Q. Does this new regulatory change affect overdraft coverage for checks and automatic payments from my checking account? (i.e. Peoples sometimes pays my checks and electronic bill payments such as my mortgage even if I do not have enough money in the account. If I do not opt-in will this stop?) A. No. This change only affects everyday debit card transactions and ATM withdrawals that overdraw your account. Peoples will continue to consider paying items from checks, bill payments, ACH and recurring automatic payments from your debit card (such as utilities or insurance payments), even if you have not opted in to pay a fee for everyd
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