An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. The maximum amount of Overdraft Protection is $500.00, plus any applicable fees. We can cover your overdrafts in two different ways:
- We have standard Overdraft Protection that may 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 Protection. To learn more, ask us about these plans.
*What is the standard Overdraft Protection that may come with my account?
We may 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
- Debit card transactions
We pay overdrafts at our discretion, which means we cannot guarantee that we will always authorize and pay a transaction. If we do not authorize and pay an overdraft, your transaction will be declined.
*What if I want CSD Credit Union to authorize and pay overdrafts on my ATM and debit card transactions?
If you want us to authorize and pay overdrafts on ATM and debit card transactions, complete the attached form and return it to the credit union. You may also call 816-763-4020 or fill out our online form. You can revoke your authorization to pay these overdrafts at any time by any of the above methods. Your revocation must include your name and your account number.
*What fees will I be charged if CSD Credit Union pays my overdraft?
We will charge you a fee of $20 each time we pay an overdraft. There is no limit per day on the total fees we may charge you for overdrawing your account. If an item is returned because the available balance in your account is not sufficient to cover the item and the item is presented for payment again, CSD Credit Union will charge a return item fee each time it returns the item because it exceeds the available balance in your account. If, on re-presentment of the item, the available balance in your account is sufficient to cover the item CSD Credit Union may pay the item, and, if payment causes an overdraft, charge an overdraft fee.