Upcoming debit card changes

Beginning August 15, 2010, the way your debit card works will change. Following that date, federal regulation will not allow you to overdraft your debit card on everyday purchases if you do not opt in for debit card overdraft privilege.

Why should I opt in?

If you do not opt in, any debit card transaction will be declined if you do not have enough money in your account to cover the purchase. It’s important to know that there are no charges for simply opting in and requesting overdraft privilege on your account, and funds in your savings account will be used first if you don’t have enough in your checking account to cover a purchase. You will only be charged should an actual overdraft occur.

Here are some common scenarios where opting in is helpful:

  • Your car breaks down on the road, and you don’t have enough money in your account to cover the repairs.
  • Your child is away at college, and you want to make sure they have access to additional funds in an emergency.
  • You’re finishing dinner at a restaurant, and you realize you forgot cash and don’t have enough money in your account to cover the meal.
  • You misbalanced and need to make a purchase in a pinch.

Why shouldn't I opt in?

Sometimes, there are circumstances under which you may not want to opt in. Here are some examples:

  • Your child has a debit card linked to your account, and you’re worried that they might accidentally overdraft your account.
  • You don’t want to be able to overdraft under any conditions.

How do I opt in or out?

The easiest way to opt in is by logging into online banking and clicking the opt-in link at the top of the account summary page. If you don’t have online banking, you can either call 513.763.8170 or complete and mail the regulatory consent form.

If you would prefer to not opt in, there is nothing more you need to do—you are opted out by default.

Remember, you can change your opt-in or opt-out status at any time simply by calling us at 513.762.5070, even after the August 15 deadline. You will never be permanently opted in or opted out, so you can change your preference later if your circumstances change.

What else do I need to know?

Even with debit card overdraft privilege, Kemba cannot guarantee payment on every overdraft transaction, and we are never obligated to pay for overdrafts. Restrictions do apply, and you should read the regulatory consent form and our full overdraft privilege policy.