Mistakes sometimes happen when using your checking account that may cause you to become overdrawn. NACCU offers overdraft programs to help you manage your account including:
- Transfer from Savings. We may transfer funds automatically from your savings account. Federal regulations limit transfers to six per month
- Courtesy Pay. Courtesy Pay may cover a check, automated payment, BillPayer or debit/check card transaction for an amount over your available account balance. It allows you to have a negative account balance because the overdraft(s) are automatically paid up to your approved amount. This provides a level of protection against being declined at the checkout line and avoids the embarrassment and cost of having a returned check
What are the standard overdraft practices (option #2) 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 number.
- Automatic bill payments.
- ATM transactions and everyday debit/check card transactions until August 15th, 2010.
We will not authorize and pay overdrafts, after August 15th 2010, for the following types of transactions unless you ask us to (see below):
- ATM transactions.
- Everyday debit/check 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 I be charged if NavyArmy pays my overdraft? Under our standard overdraft practices:
- We will charge you a fee of $30 for each check or ACH transaction that overdraws your account.
- We will charge you a fee of $25 for each ATM and everyday debit/check card transaction that overdraws your account.
There is no limit on the total fees we can charge you for overdrawing your account.
What if I want NavyArmy to authorize and pay overdrafts on my ATM and everyday debit/check card transactions after August 15, 2010?
We've made it easy to opt-in. Simply contact us in one of the following ways:
- Visit www.navyarmyfcurewards.com/optin
- Call our Call Center 361-986-4500 or 1-800-622-3631
- Visit your nearest branch
Courtesy Pay should not be used as a source of extra funds, but as a safeguard to protect against unexpected mistakes. It provides you the security of knowing your transaction will be processed, not returned for insufficient funds, and it saves you from being charged any additional fees by the merchant.
