Privilege Pay - Debit Card Coverage Opt-In Form

If you sign up for Privilege Pay - Debit Card Coverage with Farmers Insurance Federal Credit Union (“Credit Union”), we may approve everyday debit card purchases when you do not have sufficient available funds in your account, such as times when you inadvertently miscalculate your available balance, when funds from a recent deposit are not yet available for use, when you cannot make a deposit until later that same business day, or there are other debit card or ATM transactions that are pending but have not yet paid out.

There is no fee to include Privilege Pay - Debit Card Coverage protection on eligible accounts. A Privilege Pay - Debit Card Coverage fee is incurred only when you use the protection.

Once you opt-in you are always in control. If at any time you no longer wish to protect your Debit Card/ATM purchases with Privilege Pay - Debit Card Coverage, you can always cancel the coverage with no fees and no strings attached.

What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough funds in your account to cover a transaction, but we pay it anyway. By saying enough funds we mean “enough available funds,” which does not include funds in your account that are owed on pending transactions that have been approved but not yet paid, or funds from checks that have been deposited but are still on hold and are uncollected. We can cover your overdrafts in two different ways:

1. We have a basic, standard Privilege Pay program that comes with your qualified checking accounts.
2. We also offer Overdraft Account Protection, such as a link to a savings account, credit card or line of credit accounts, which may be less expensive than our standard overdraft 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?
The Credit Union may authorize and pay overdrafts for the following types of transactions for qualified accounts under our Privilege Pay program:

• Checks and other transactions made using your checking account number and
• Automatic bill payments.

We will not authorize and pay overdrafts for the following types of transactions unless you ask us to do so:

• ATM Transactions or
• 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 we pay my overdraft?
Under our Privilege Pay - Debit Card Coverage:

• We will charge you a fee of up to $23.00 each time we pay an overdraft, with a daily maximum of $92.00 charged for Privilege Pay - Debit Card Coverage.
• Your account must be brought current with a positive balance within calendar 15 days of Privilege Pay - Debit Card Coverage use or your account will be subject to closure.
• Even with Privilege Pay your account cannot be more than $200 overdrawn, or if you have direct deposit into your qualified checking account no more than $1,000 can be overdrawn, including fees and charges.
• Privilege Pay - Debit Card Coverage does not guarantee payment.
• Checks and ACH items may still be paid by the Credit Union under our basic, standard Privilege Pay program, without your opting into Privilege Pay - Debit Card Coverage.
• In order to be eligible to use Privilege Pay - Debit Card Coverage you cannot be delinquent or in breach of any Credit Union agreement or policy, nor can your account be subject to any legal order.

What if I want the Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions through the Credit Union’s Privilege Pay - Debit Card Coverage?
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 800.877.2345, or complete the form below.