Our Commitment to You
Today's banking environment is more
competitive than ever. When you make Bank of Commerce
your partner, you'll have a powerful ally that offers
superb services. We've harnessed the power of state-of-the-art
technology to make banking services, faster and more
convenient. But because technology means nothing without
people, we work hard to tap the creativity and the energy
of our talented and professional staff to make it easy
for you.
Our heritage of quality performance
plus our spirit of innovation put us at the forefront
of service to you. To learn more about all the advantages
that Bank of Commerce offers, I invite you to contact
us today. You'll see why it makes so much sense
to have Bank of Commerce working for you.
- Jan Miller, President
Your Immediate Attention is Needed
for Upcoming Regulatory Changes
REG E – ATM/Debit Card Transactions
The Federal Reserve recently amended Regulation E to address the charging of overdraft fees for the paying of ATM and one-time debit card/POS transactions. This will affect how Bank of Commerce is able to authorize your ATM and one-time debit card/POS transactions if the amount of the transaction will exceed your available balance.
TODAY
Your account may have a No Bounce overdraft limit assigned to it and you may be able to spend more than you have in your account because of this limit. The limit is assigned based on the type of account you have and is always available for you to draw on during an emergency or whenever the need arises. You are able to make your purchase and you are benefiting from a service that has been provided by your community bank for the past 10 years in this exact same form. If the transaction causes your account to be overdrawn when it clears your account the standard overdraft transaction fee is charged to your account.
August 15, 2010
Beginning on this date, all existing customers at Bank of Commerce who want to continue to have this beneficial service on their account have to have opted in to the service or the bank will no longer be able to approve transactions on an ATM/Debit card when the transaction will exceed the account’s balance.
What does this mean for you?
If you haven’t opted into the program by August 15, 2010 your purchase will not be approved unless you have sufficient funds to cover the purchase regardless of the situation or your own desire. The service that you have been able to depend on during an emergency, when you needed to buy a few items prior to payday, or when things were tight at the end of the month will no longer be available for you.
What is BOC doing about this matter?
Beginning with your June 2010 statement, BOC will be providing you with additional information on the regulation and its affects on transactions involving your ATM/Debit card. Your statement will also include an opt in form for the program and directions on how to make sure the bank receives your opt in form. BOC will also have trained knowledgeable staff available for you to ask any questions of during this transition time.
Important Links
If you would like to Opt In, you may contact your local Bank of Commerce branch and request an Opt In form be faxed to you.
If you would like additional information, you may click on the provided link to the Federal Reserves web site at
www.federalreserve.gov/consumerinfo/wyntk_overdraft.htm
BOC will be sending you more details on this in the coming months but in order for you to become more familiar with the rule and the affect it could have on you we are providing this link to the Federal Reserves website for more information on the matter.
Bank of Commerce is participating in the FDIC's Transaction Account Guarantee Program.
Under this program, through December 31st, 2010, all non-interest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount of the account. This coverage is in addition to, and separate from, FDIC deposit coverage under the FDIC's general deposit insurance rules.
Banking Your Way with BOC
Merchant Capture
A paperless, web-enabled solution that will allow you to scan checks
and transmit them directly to us for deposit.
Learn More.
BOC Connection Internet Banking
Monitor your account from any internet connection with our safe and secure online banking solution. Learn More.
BOC Cellular Banking
Introducing our new browser-based mobile banking solution that enables you to use your cell phones, PDAs, or other mobile devices to initiate routine transactions and conduct research anytime, from anywhere. Learn more about this convenient and exciting service.
BOC Infoline Telephone Banking
With this simple and convenient
approach, you can efficiently conduct daily banking over your phone.
Learn More.
FBI Fraud Alert
The FBI has created a poster to address the five most common internet scams.
Please take a moment of your time and review what they have to say.
FBI Fraud Alert Poster. |
