New Overdraft Rules for Debit & ATM Cards

Debit and ATM card holders have additional overdraft options under the new Federal Reserve rules. In the next few months, financial institutions must offer you the ability to make decisions about overdraft services for transactions made with your debit or ATM cards.

Generally, there are 2 types of overdraft services:

1. Standard overdraft services
2. Overdraft protection plans

The new rules allow you these new options:

1. You choose to "opt in" which grants your financial institution permission to apply standard overdraft services to debit and ATM card transactions before you can be charged overdraft fees.
2. If you have an existing account and you don't "opt in", then beginning August 15th, any previous overdraft fees won't apply. Transactions will simply be declined instead of charging overdraft fees.
3. If you open a new account after July 1st, you will not be charged overdraft fees by your financial institution unless you "opt in".
4. The new overdraft rules give you more flexibility. You can add and remove overdraft services at any time.
5. The new rules do not cover checks or automatic bill payments. Your bank will automatically enroll you in their standard overdraft services for transactions like these.

Visit the Federal Reserve website to learn more details about the new overdraft rules.

Investment Quotes

Come and learn more about investing basics at next month's FPW workshop! Afterall, "an investment in knowledge pays the best interest" (Benjamin Franklin). Please email Jean Lown at jean.lown@usu.edu if you are interested in learning about a specific topic on April 14th, at 12:00 pm (noon) or 7:00 pm. Here are a few quotes you can stock away.

"The four most expensive words in the English language are, 'This time it's different.' "
-- Sir John Templeton

"The stock market is filled with individuals who know the price of everything, but the value of nothing."
-- Philip Fisher

Earthquake Insurance!

Watching devastation after devastation of tremendous earthquakes around the world really makes you stop and think about home. Where will the next big earthquake hit?? Unfortunately, not even the experts can give us the answers. Earthquakes can cause enormous damage, endangering your safety, home, and other personal property and belongings. Although we may never feel completely prepared, one way to ease your mind and protect your home is through earthquake insurance. The Utah Insurance Department is a great resource to learn more about how to insure your home against earthquake damage. Visit Utah Insurance Department for more information.

Kool Kiplinger Klips

Here's a great resource for both both financial novices and gurus. Kiplinger has several mini videos that cover important financial topics for consumers. Topics include investing, insurance, family finance, taxes, retirement, and health. These short clips offer beneficial tips and review personal finance basics. Most of the videos are only 2 to 5 minutes long, so they are quick and easy to watch but don't impinge on your busy schedule. Check out the video clips on the Kiplinger website at: http://www.kiplinger.com/video/.