Overdraft Privilege

IMPORTANT NOTIFICATION

READ THIS ONLY IF YOU HAVE AN ACTIVE CHECKING ACCOUNT OR ATM CARD TIED TO YOUR SAVINGS ACCOUNT.

If you have previously responded to this notice, please do not respond to this web page.


What do I 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: 

1.  Checks and other transactions made using your checking account number
2.  Automatic bill payments 

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below): 

1.  ATM transactions
2.  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 Ocean City Home Bank pays my overdraft?
Under our standard overdraft practices:

1.  We will charge you a set fee of $32 each time we pay an overdraft.
2.  There is no limit on the total fees we can charge you for overdrawing your account. 

Our current overdraft policies will apply until these changes go into effect on July 1, 2010.

To specify your overdraft preferences for ATM and everyday debit card transactions
please call 1-800-771-7990 or visit one of our conveniently located branch locations.