ATM/Debit Card Opt-In/Out
OOPS & OPPS Plus
Optional Overdraft Protection Service & Optional Overdraft Protection Service Plus also known as “OOPS & OOPS Plus”
We've all had moments when our checking account balance is lower than expected. Maybe you forgot to record a check, made a subtraction error, missed a fund transfer, or lost track of your balance. A returned check due to insufficient funds can be costly, inconvenient, and embarrassing. At New Peoples Bank, we encourage responsible financial management. However, to help you avoid additional fees and potential credit damage, we offer our Optional Overdraft Protection Service, or “OOPS”.
Included Services of “OOPS”
We understand that mistakes happen. When they do, we strive to pay your overdrafts on the following types of transactions:
We understand that mistakes happen. When they do, we strive to pay your overdrafts on the following types of transactions:
- Checks
- Automatic bill payments
- Telephone-initiated transfers or other electronic transfers
- Preauthorized automatic debits
"OOPS Plus" includes all service included with "OOPS" as well as:
- ATM transactions
- Every day (one time) debit card transactions
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:
We have standard overdraft practices that come with your account.
We also offer one or more overdraft protection plans, such as a line of credit, a link to another account, or an Optional Overdraft Protection Service 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 New Peoples Bank pays my overdraft?
Under our standard overdraft practices:
We will charge you a fee of $35.00 each time we pay an overdraft, with a maximum of 6 overdraft/NSF fees per day.
We charge a fee of $5.00 every 5 business days the account remains overdrawn up to 30 days.
What if I want New Peoples Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, complete the information below and submit the form online.
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