First Command Bank Overdraft Program Update


If you currently have a First Command Bank checking account, you may have received a notice from us asking you to update your overdraft protection coverage. This update is required as a result of recent regulatory changes. To ensure you have the overdraft coverage you want, it is important for you to make your update by August 15, 2010. Using our secure online form, you can make your update in just a few minutes. Click here to make your update now.

Why is this important to me?

Your First Command Bank checking account currently includes the convenience and flexibility of our Overdraft Program – providing seamless coverage for all your checking account transactions and preventing the embarrassment of declined transactions. Federal regulations now require that you provide specific permission to continue Overdraft Program coverage on ATM and everyday debit card transactions because a fee may be charged when an overdraft is paid on your behalf. If we do not receive your permission by August 15, 2010, your ATM and debit card transactions will be declined if you do not have sufficient funds in your account.

What will change on August 15?

Beginning August 15, 2010 First Command Bank will not authorize and pay overdrafts for ATM and everyday debit card transactions unless you ask us to by updating your coverage using our secure online Overdraft Update form. ATM withdrawals and everyday debit card purchases will be declined if you do not have sufficient funds in your account.

If you have “Opted In” and extended your Overdraft Program coverage to ATM and everyday debit card transactions, nothing will change. You will still enjoy the peace of mind of knowing that all your transactions can be covered when you may need it most.

To ensure you have the overdraft coverage you want, it is important for you to make your update by August 15, 2010. Click here to make your update now.

What accounts are eligible?

First Command Bank checking accounts, such as Command Checking, with overdraft protection and a debit/ATM card need to update their coverage. If you are unsure if your accounts need to be updated, simply visit our secure online Overdraft Update form and upon logging in you will be notified as to whether or not you have eligible accounts.

What else do I need to know?

  • Click here to make your update now. To ensure you have the overdraft coverage you want, it is important for you to make your update by August 15, 2010. You can update your Overdraft Program coverage for ATM and everyday debit card transactions at any time using our secure online Overdraft Update form. This form is also accessible in OnCommand™.
  • If you choose to remove Overdraft Program coverage on your ATM and everyday debit card transactions:
    • ATM and everyday debit card purchases will be declined if you do not have sufficient funds in your account.
    • You will not be able to use your ATM/debit card if you do not have sufficient funds in your account, even in an emergency. You will need to use another form of payment.
    • You will not have sufficient funds in your account until you make a deposit to your account and those funds become available (see Funds Availability in your Depository Agreement). You may need to make deposits in advance so your everyday debit card transactions will be approved.
  • There are many ways to avoid overdrafts and the potential to incur overdraft fees, including using our free Account Alerts and OnCommand™ online banking services. Click here to learn more.
  • This update does not affect your overdraft coverage for checks, in-person withdrawals, and ACH or other electronic transactions. Those transactions will continue to be covered by the Overdraft Program.
  • First Command Bank offers two types of overdraft protection: Overdraft Program and Coverdraft. Click here to learn more.
  • For information about overdraft protection, view “What You Need to Know about Overdrafts and Overdraft Fees” and visit our Overdraft Protection FAQs.
  • If you have additional questions, please send us a secure message in OnCommand™ or call us at 888.763.7600.