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. (See Overdraft Privilege disclosure for details.)
2. We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive 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?
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 We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
ATM transactions 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 USE Federal Credit Union pays my overdraft?
Under our standard overdraft practices:
We will charge you a fee of $25 each time we pay an overdraft.
What if I want USE Federal Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 405-685-6200 or 1-800-227-6366, or complete the form below.
If you authorize the credit union to pay overdrafts for ATM and everyday debit card transactions, you may revoke it at any time.