Questions and Answers about Bounce Protection, Overdraft Fees, and “Opt-In”

Q: What is “Bounce Protection Opt-In?”
A: Revisions to federal law governing bank overdraft practices give customers the option of deciding if they want the bank to cover overdrafts generated by daily debit card and ATM transactions. If a customer chooses to "Opt-In," the overdraft coverage for their daily debit card and ATM transactions will continue as they are today. If a customer does not “Opt-In,” the bank will decline daily debit card and ATM transactions when the account balance is insufficient.

Q: What kinds of transactions are impacted by the “Opt-In” rules?
A: All daily debit card and ATM transactions are impacted by the "Opt-In" rules. Overdraft coverage for these types of transactions requires you to "Opt-In" (agree) in advance. Recurring debit card payments (ex: your electric bill set up to pay monthly) and checks or ACH transactions are not affected by the new “Opt-In” rule. These transactions may still be covered (paid) by the bank’s standard overdraft practices when your balance is insufficient.

Q: When do the new “Opt-In” rules go into effect?
A: The new “Opt-In” rule goes into effect on July 1, 2010 for accounts opened on or after that date and on August 15, 2010 for accounts that already exist as of July 1, 2010.

Q: Why is the Federal Government requiring customers to “Opt-In?”
A: These new rules were defined to help consumers control overdrafts on their accounts and reduce the related expenses – especially for small transactions created by debit card purchases.

Q: Why do I have to authorize Bounce Protection coverage for daily debit card and ATM transactions?
A: The new rules specifically require that customers tell the bank if they want this type of overdraft coverage.

Q: What will happen if I do not “Opt-In?”
A: If you do not “Opt-In,” federal law requires the bank to decline your daily debit card and ATM transactions when the balance in your account is not sufficient to cover them.

Q: How do I “Opt-In?”
A: There are several ways for you to ensure your account continues to function the same way it does today:

1. Stop by any of our convenient locations.
2. Contact a Customer Service Representative at (870) 523-3601, or your local branch.
3. Complete the “Opt-In” form at www.mandpbank.com.
4. Print the “Opt-In” form at www.mandpbank.com, complete, and mail to Merchants and Planters Bank Bookkeeping Department, PO Box 650, Newport, AR 72112.

Q: If I have Bounce Protection linked to my account do I still need to “Opt-In?”
A: Yes. The Merchants and Planters Bank Bounce Protection coverage you already have will no longer apply to daily debit card and ATM transactions after August 15, 2010 unless you “Opt-In.” Your current Bounce Protection coverage will still apply to overdrafts created via check, ACH, and recurring debit transactions.

Q: If I “Opt-In” will my debit card purchases and payments always go through?
A: No. Whether an overdraft will be paid is discretionary and we reserve the right not to pay. This means we do not guarantee that we will always authorize and pay any type of transaction.

Q: Are there fees?
A: Yes. You will pay a $25 fee each time a daily debit card or ATM transaction is approved and paid when you don’t have sufficient funds in your account at the end of the day. There is no fee for Bounce Protection if you don’t use it.

Q: When do I need to make my deposit to avoid an overdraft fee?
A: You will have until 4:00 p.m. each business day of your transaction to make your deposit. If your debit transactions occur on a non-business day, you will have until 4:00 p.m. of the next business day.

Q: What about automatic debit card payments that I set up with a merchant?
A: Debit card purchases or payments that are set up to bill automatically (like an electric bill or gym membership) may continue to be authorized even if you do not “Opt-In.”

Q: If I do not “Opt-In” when will you stop paying my daily debit card and ATM overdrafts?
A: Your account will default to “Opt-Out” if you do not submit an “Opt-In” form before August 15, 2010. To keep your account working as conveniently as it does today, notify us of your decision as soon as possible.

Q: What if I can’t decide or don’t want this service?
A: We're happy to talk to you about options for managing your account. Visit or call a Customer Service Representative to discuss Merchants and Planters Bank’s Bounce Protection and the new “Opt-In” rules. If you’re certain that you don’t want your daily debit card and ATM transactions authorized when you don’t have sufficient funds, you are not required to take any action. Your account will default to “Opt-Out” if you do not submit an “Opt-In” form before August 15, 2010. To keep your account working as conveniently as it does today please notify us of your selection as soon as possible.

Q: What if I change my mind about my decision to “Opt-In” or “Opt-Out” later?
A: You always have the right to reverse your decision at a later date. Just contact a Customer Service Representative at your convenience or visit us online at www.mandpbank.com.

Q: What other options do I have for managing overdrafts within my accounts?
A: Merchants and Planters Bank offers other 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.

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