Credit Union Overdraft Services
Everyone makes mistakes sometimes. When you overdraft on your account, Overdraft Services covers that gap. Here’s everything you need to know about using this service.
Request for Overdraft Services
Members are required to consent to participate in Overdraft Service plans for everyday debit transactions. Overdraft Services protects your checking account when you don’t have enough funds in your checking account to cover a retail transaction. Please note that you do not need to sign the form to continue Overdraft Services for checks or ACH items.
What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in the available balance in your account to cover a transaction, but we pay it anyway. For more information about available balance and overdrafts, see the Overdraft Services Disclosure section of the 1st Advantage Membership and Account Agreement. 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 a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account
- Automatic bill payments
We will not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
- 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 be charged if 1st Advantage pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of $29.00 each time we pay an ATM or debit card transaction overdraft.
- We will charge you a fee of $29.00 each time we pay a check or ACH transaction overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
What if I want 1st Advantage to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you also want us to authorize and pay overdrafts on everyday debit card transactions, simply fill out the form on this page and click “Yes” and then submit. You may also call 757-877-2444 or 800-359-7650.
Sign Up for Overdraft Services
Protect yourself from unexpected expenses. Fill out this form to sign up for overdraft protection.
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