Reg E Opt-In/Opt-Out form (for personal banking accounts only)

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:

1. We have standard overdrafts practices that come with your account.

2. We also offer overdraft protection plans, such as a link to another account or line of credit, which may be less expensive than our standard 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 Colony Bank pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee up to $35.00 each time we pay an overdraft.
  • There is a limit of six (6) per item overdraft fees that we will charge you for overdrawing your account per business day.

What if I want Colony 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 secure electronic form below, call (800) 873-6404, OR print this paper form and either present it at a banking center or mail it to: PO Box 989, Fitzgerald, GA 31750.

What if I want to revoke my authorization?

You may revoke your election to opt-in to our institution's payment of ATM and everyday debit card transactions at any time by completing the secure electronic form below, calling (800) 873-6404, or visiting your local banking center. It may take up to 5 days after receipt of your request to revoke your authorization for us to process your request.