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ANYWHERE ACCESS

Overdraft Protection Opt-In Agreement

What You Need to Know About Overdrafts and Overdraft Fees

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:

  • 1. We have standard overdraft practices that come with your account.  Most checking accounts come with overdraft privileges up to a predetermined limit.
  •  2. We also offer an overdraft protection plan which is a link to a savings account, which may be less expensive than our standard overdraft practices.  To learn more, please ask one of our Member Service Representatives about this option.

This notice explains our standard overdraft practices.

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
  • Bill Pay transactions
  • ACH withdrawals

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to:

  • Everyday debit card transactions

We do not authorize and pay overdrafts for the following types of transactions under any circumstance:

  • ATM 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 TEXAR Federal Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $35.00* each time we pay an overdraft on your behalf, according to these tiers:
    • If the account goes into the negative up to $25.00, the fee is $5.00
    • If the account goes into the negative from $25.01 to $50, the fee is $20.00
    • If the account goes into the negative $50.01 or more, the fee is $35.00
  • There is no limit on the total fees we can charge you for overdrawing your account.

* Fees are subject to change.

What if I want TEXAR Federal Credit Union to authorize and pay overdrafts on my everyday debit card transactions?

If you want us to authorize and pay overdrafts on everyday debit card transactions please fill out the form below and submit it electronically.

Opt-in for Debit Overdraft Protection