There are some important things you need to know when it comes to overdrafts on your First Credit Union checking account.
What you need to know about overdrafts and overdraft protection:
An overdraft occurs when you do not have enough money in your checking account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans, such as a link to another account or a line of credit, which may be less costly than our standard overdraft practices.
What are the standard overdraft practices that come with your account?
We do authorize and pay overdrafts for the following transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
We will not authorize and pay overdrafts for the following types of transactions without your consent:
- ATM transactions
- Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.
If we do not authorize and pay an overdraft, your transaction will be declined.
What fees will you be charged if First Credit Union pays your overdraft?
- We will charge you a fee of up to $35 each time we pay an overdraft
- There is a limit of five per day on the total fees we can charge you for overdrawing your account. There is no limit on the total fees we can charge you for returning items unpaid.
What if you want First Credit Union to authorize and pay overdrafts on your ATM and everyday debit card transactions?
If you want us to authorize and pay overdrafts for which an Overdraft fee will be assesed on ATM and everyday debit card transactions:
- Call our Phone Center at 480-831-2645 or toll-free outside the Phoenix area at 1-800-732-6986, OR
- Download a form, complete and present it at a branch or mail it to 25 S. Arizona Place, Ste 111, Chandler, AZ 85225, OR
- Make your selection online when you're logged into your account in NetTeller online banking. Simply click the link below and log in to NetTeller. Next, select the Additional Services Tab and click Continue that appears next to Overdraft Services Opt In/Out. Complete your selection by choosing Opt In from the drop down menu and click Submit.