IMPORTANT ANNOUNCEMENT REGARDING POSTING OF ELECTRONIC TRANSACTIONS

Effective Wednesday, January 23, Franklin Bank will no longer memo post point of sale (POS) transactions to customer accounts at the time of the purchase (when the preauthorization is issued). Instead, we will debit your account at the time the actual merchant file is received by the bank.

What does this mean to you, our customer? Beginning Wednesday, January 23, when you make a purchase and pay for it with your Visa® Check Card, the transaction will no longer show up on online banking or via our 24 hour telephone banking until the file is received by the Bank and the funds are actually debited from your account. Previously, your available funds were reduced immediately upon pre-authorization of the purchase, even though the bank had not yet received the actual file for processing.

Why is this good for you? Customers will have increased access to their funds, with availability not reduced until the actual item clears their account. Often, purchases made by your Visa® Check Card will take 2 - 3 days to clear your account, depending upon when the merchant actually sends the file to be processed. This means, although you have committed the funds in your account for that purchase, the funds will remain in your account until the file is received and processed by the bank. This process is virtually the same process as a paper check written and given for purchases.

What is your responsibility? As always, you are responsible for writing down your transactions and knowing the amount of funds you have committed to spending, regardless of the type of transaction (i.e., Visa® Check Card transaction, paper check, ATM). Remember, the bank will not know what you have committed to spend until the actual items are presented for payment. Please be responsible and write down all transactions in your check register and keep a running total of your available funds.

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