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Debit Card Overdraft Privilege

Important Notice Regarding Your Account

The Federal Reserve Board recently passed new regulations requiring all financial institutions to obtain an “Opt-In” form from account holders to provide overdraft services on one time debit card transactions.  La Capitol now offers Debit Card Overdraft Privilege for 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 the transaction. When there are overdraft services, we may pay the transaction anyway.  We can cover your overdrafts in two different ways:

  1. We have standard overdraft practices that come with your account.
  2. We offer overdraft protection plans, such as a link to a savings account, Visa, or line of credit, which may be less expensive than our standard overdraft practices.

 What are the standard overdraft practices?

 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 authorize us to:

  •  One time 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 La Capitol pays my overdraft?

La Capitol charges our standard fee of $30 each time we pay an overdraft and there is no limit to the number of fees we may charge you in a given day for overdrawing your account.

What if I want La Capitol to authorize and pay overdrafts on my one time debit card transactions?

If you want us to authorize and pay overdrafts on one-time debit card transactions, call 1-800-522-2748 or complete the Debit Card Overdraft Privilege Opt In Authorization Form and present it at a La Capitol branch near you or mail it to us at P.O. Box 3398, Baton Rouge, LA  70821.

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