Belong to Douglas County
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WHAT YOU NEED TO KNOW ABOUT OVERDRAFTS AND OVERDRAFT FEES
(AND OPTIONAL CONSENT TO DEBIT CARD OVERDRAFT)
An overdraft occurs when you do not have enough money (‘not sufficient funds’ – NSF) in your account to cover a transaction, but we pay it anyway. We do not encourage you to overdraft, but if you do, we can cover your overdrafts in two different ways: (1) Standard overdraft practices that come with your account. (2) Low cost overdraft transfers which draw from your savings or your line-of-credit. Interested? Ask us about this. Following are our standard overdraft practices; then an opportunity to choose to ‘opt-in’ to debit card overdraft protection.
WHAT STANDARD OVERDRAFT PRACTICES COME WITH MY ACCOUNT?
At our sole discretion, we authorize and pay overdrafts for the following types of transactions: (1) Checks and other transactions on your checking account, (2) Automatic bill payments, and (3) ACH transactions.We do not guarantee we’ll always authorize and pay any transaction. If we pay your overdraft, you must promptly restore your account to a positive balance.Unless you ask us to, we do not authorize and pay overdrafts for one-time (non-recurring) debit card transactions (see below). (You may cause some debit card overdraft transactions that we cannot decline.) We don’t authorize ATM cash withdrawals that cause an overdraft.
WHAT FEES WILL I BE CHARGED IF I MAKE AN OVERDRAFT ON MY ACCOUNT?
You will be charged an NSF fee according to the current Fee Schedule each time we choose to pay an overdraft of your account. Even if we do not authorize and/or pay your overdraft, you may still be charged a Fee if you make an overdraft. There is no limit on the total NSF fees you will be charged for overdrawing your account.
WHAT IF I WANT THE CREDIT UNION TO AUTHORIZE AND PAY OVERDRAFTS ON MY ONE TIME DEBIT CARD PURCHASES?
If you want us to authorize and pay overdrafts on one-time debit card purchase transactions, log on to your WebTeller account, or click here for a form you can complete and mail to us to exercise that option.