Centennial Bank

Opt-In or Opt-Out

Regulation E is the legal act all banks must comply with in reference to electronic fund transfer systems such as ATMs, bill-payment services, point-of-sale (POS) terminal transfers in stores, and preauthorized transfers from or to a consumer's account (such as direct deposit and social security payments). 

This regulation has recently changed.  Consumers now must opt-in or opt-out if they want overdraft privilege on ATM or one-time debit card point-of-sale transactions.  Opt-In/Opt-Out is only applicable to ATM and one-time debit card point-of-sale transactions. Selecting Opt-In means Overdraft Privilege will cover an ATM or one time debit card point-of-sale transaction and all applicable fees will apply (the same as the customer has today). Selecting Opt-Out means an ATM or one time debit card point-of-sale transaction will be declined if funds are not available and will not assess a fee. Opt-In/Opt-Out has no effect on ODP in regards to covering checks or ACH transactions.

Customers have the choice to Opt-In/Opt-Out at their convenience and discretion. You may click here to obtain Centennial Bank’s complete Overdraft Privilege disclosure.

Centennial Bank customers have been provided a notice that explains the financial institution's overdraft services, including the fees associated with the service, and the consumer's choices.  Please refer to this notice which contains the response code necessary to make your selection on-line or call 888-372-9788 for more information.

Click here to continue with your on-line selection.