My question has to do with the disclosure stating how an account can be overdrawn and whether or not we need to change if we don't offer opt-in.

Our bank has decided not to offer an opt-in to consumers. Currently we are not real time (but will be by year-end) but do send a positive balance file 3 times per day. If at the time of transaction the balance is negative, the transaction, POS or ATM, then the transaction is not approved. At times, a transaction,POS or ATM, will overdraw an account and result in an OD fee. We will not charge overdraft fee on those items after July 1st. We will look for other ways to recoop any lost income.

Our account disclosure currently states that an account can be overdrawn, inperson, by check or other electronic means. If we change to real time and not allow od on the POS or ATM, then my question is would we need to change to specify the electronic means - ie "inperson, by check, or ACH" and then provide a 30 day notice to customers before making this change. In the remote chance a POS or ATM does overdraw an account we simply would not charge.

Your language reflects a change that all banks were required to incorporate in 2006 in order to more fully describe the types of transactions that could create an overdraft; i.e. yours is a question that any bank should ask.

Although your bank would not intentionally allow a customer to overdraw his or her account by a one time debit card transaction or ATM card, such overdrafts remain possible due to some systemic weaknesses. Less theoretical is the point that any discussion of overdrafts created by "electronic means" would also describe overdrafts created by ACH debits.

So, your language is still accurate and need not be changed. The Fed has not issued any direction indicating banks should make this language precise based on whether a customer opt-in program is available.