New Overdraft Policy Coming in 2010 for Chevy Chase Bank Customers
In our continuing effort to provide Chevy Chase Bank, a division of Capital One, N.A., customers with the best banking experience possible, we are announcing some changes to our overdraft policies and practices for all of our consumer checking account holders. While the overwhelming majority of our customers do not typically utilize our overdraft services, we believe our future overdraft policies, along with the other tools and information Chevy Chase Bank provides, will help our customers minimize overdraft fees and better manage their accounts.
Beginning early next year, we plan to eliminate overdraft fees for customers when they overdraw their accounts by $5 or less in any given day and will charge no more than 4 overdraft fees per day.
In addition, later in the year, new customers will be able to "opt in" to a new courtesy overdraft service option. Here customers can choose whether or not they want all of their overdraft transactions declined (including debit and ATM transactions) or considered for payment if funds are not available in their account.
As always, we encourage our customers to manage their accounts and monitor their balances. These are the best and most effective ways to manage finances and avoid overdraft charges.
Chevy Chase Bank offers a variety of ways for customers to access and monitor their accounts that can help them avoid overdraft fees. This includes access to accounts through Online Banking, ATMs and Automated Telephone Banking. In addition, we offer e-mail balance alerts for customers enrolled in Online Banking.
We offer overdraft protection services with advances from a linked Savings or Money Market account or through a Personal Line of Credit.*
We also provide tutorials and other resources to help customers manage their finances. Learn more at capitalone.com.
Chevy Chase Bank is committed to educating our customers about the products that we offer and that our practices always live up to our customers' expectations. Additional information will be made available to customers in the coming months.
Denise L. Pope
Executive Vice President, Mid-Atlantic Market
* Subject to credit approval. Must be 18 years or older to apply.