An overdraft occurs when you do not have enough money in your 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 overdraft loan, which may be less costly than our standard overdraft practices. To learn more, ask us about these plans.
This notice explains our standard overdraft practices.
What are the standard overdraft practices that come with my account?
Checks and other transactions made using your checking account number.
Automatic bill payments.
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 I be charged if Homeland Credit Union pays my overdraft?
We will charge you a fee of up to $25.00 each time we pay an overdraft.
There is a limit of $125 per day on the total Paid NSF fees that we will charge you for overdrawing your account.
What if I want Homeland Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?