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Introducing Auto Updater from Visa

Beginning October 2017, Visa is requiring all banks to participate in a program that allows merchants to receive updated debit card expiration dates for recurring payment arrangements.

This service known as “Visa Auto Updater” will provide monthly updates to merchants who maintain your card information on file to process your preauthorized recurring payments such as monthly utility payments, membership dues, or other ongoing payments. This service will also allow merchants to receive your updated card information when a new card is issued automatically from the bank.

We believe that this is a good service that will streamline the card reissue nuisance of notifying those companies you have established recurring payments without interruption reducing the number of declined transactions due to expiration date when your card is reissued for any reason.

We also understand however, that you may want to personally provide this information to your merchants and not participate in the auto update service. Visa has mandated that all banks must participate. By default beginning in October 2017, your card will be included in this program. As a customer, however, you may Opt Out. Should you choose to Opt Out and not participate in this service, you must notify the bank and sign an Auto Update Opt Out form. You may do this in person at any one of our banking locations or by contacting us by telephone at 815.385.5400 and speaking to a customer service representative. Your signature is required, so we will forward you a form in the mail that you can sign and then return to the bank.

Please note, if you do opt out, it will be your responsibility to notify all merchants you have established with recurring payment arrangements informing them of your updated expiration date. With this service, merchants may be less likely to waive fees associated with late or missed payments due to reissued card transactions declined for expiration date.