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Important Information Regarding ATM and Everyday Debit Card Transactions

Overdraft

In the past, on those rare occasions when there are not enough funds in your account to use your ATM or debit card at the supermarket, gas station or your favorite store, we may have approved the transaction as a courtesy to you, and advanced the funds needed to complete your purchase. Due to recent changes in federal banking regulations, we are now required by law to obtain your written permission before we can continue to cover ATM and debit card transactions.

Reply today!

Click here to submit an online secure form OR
Download PDF form to print and mail

If you opt in: Opting in means you will continue to have a safety net that may save you from the embarrassment of having a transaction declined if you have made a mistake in balancing your account or are short on cash. If you opt in, there will be no change to your ATM or debit card. It will continue to work as it currently does.

If you do not respond: If you do not submit the secure online form, mail a form, or call us, the new law will no longer allow us to provide courtesy overdraft coverage for any ATM or debit card transaction that would cause your account to overdraw. If there are insufficient funds in your account when you are making a purchase at the supermarket, gas station or your favorite store, your ATM or debit card transaction will be declined.

Even if you have a Washington Trust overdraft protection product, you may still want to opt-in to provide further coverage, if you happen to exhaust the limits on your overdraft protection plan and want your ATM or debit card transaction to be covered.

If we don't hear from you, your debit card or ATM transaction will be declined if there is not enough money available in your account to cover a purchase or withdrawal.

Click here for information about Washington Trust's overdraft practices.

Please reply today!
Click here to submit an online secure form OR
Download PDF form to print and mail

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 overdraft practices that come with your account.
  2. We also offer overdraft protection plans, such as a link to a savings account or a line of credit, which may be less expensive than our standard overdraft practices. To learn more about these plans, please call us at 401-348-1200 or 800-475-2265.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

We may authorize and pay overdrafts for the following types of transactions:

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

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

  • 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 debit/ATM card transaction will be declined.

What fees will I be charged if Washington Trust pays my overdraft?

Overdraft Fee/Returned Item Fee will be charged as follows:

  • No fee for transactions less than or equal to $4.99 that overdraw the account
  • $25.00 fee for transactions between $5.00 and $34.99 that overdraw the account
  • $32.50 fee for transactions over $35.00 that overdraw the account

What if I want Washington Trust to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions please

Click here to submit an online secure form OR
Download PDF form to print and mail

 

Reply today!

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Important Information about FDIC Insurance Coverage
Maintenance

System Maintenance

September 21,2014
10:00 p.m. until 11:00 p.m.

Due to system maintenance, Online Banking and Mobile Banking will be unavailable on Sunday, September 21 between the hours of 10:00 p.m. and 11:00 p.m.