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TEXAR Federal Credit Union
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Debit Overdraft Protection

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 linked to a savings account and may be less expensive than our standard overdraft practices. To learn more, please ask one of our Member Service Representatives about this option.
 

Your account must be brought to a zero or positive balance within 15 days of your account being overdrawn.


What standard overdraft practices come with my account?


TEXAR authorizes and pays overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account
  • Bill Pay transactions
  • ACH withdrawals

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

  • Everyday debit card transactions

TEXAR does not authorize and pay overdrafts for the following types of transactions under any circumstance:

  • ATM transactions

TEXAR pays overdrafts at its discretion. This 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 pays my overdraft?


Under our standard overdraft practices:

  • TEXAR will charge 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 overdraft fees we can charge.

* Fees are subject to change.


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


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