Currently Desertview Federal Credit Union offers all members Overdraft Protection, or Courtesy Pay on their account. Courtesy Pay allows items presented by ACH, checks, and debit cards to be paid when there isn’t enough funds in your account to cover those items. The only time you pay a fee is when you use this service. Desertview has offered this service for many years to members whose accounts are in good standing but use the Courtesy Pay for financial emergencies, unexpected expenses and provides greater flexibility in managing your money.
Due to a federal regulation, we will NOT be able to offer Courtesy Pay on your ATM and everyday debit card transactions unless you opt-in. If you wish to still have these items paid, please read the form below, fill-out, sign and return to any location BEFORE August 15, 2010. Please beware that if you do not fill out an opt-in form ATM and everyday debit card transactions will be denied. This will not affect automatic payments and checks.
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.
2. We also offer overdraft protection plans, such as a link to a share draft line-of-credit or share account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions on accounts in good standing:
o Checks and other transactions made using your checking account
o Automatic bill payments
After August 15, 2010, we will not authorize and pay overdrafts for the following types of transactions unless you ask us (see form below):
o ATM transactions
o Everyday debit card transaction
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 Desertview Federal Credit Union pays my overdraft?
Under our standard overdraft practices:
o We will charge you a fee of $20 each time we pay an overdraft.
o There is no limit on the total fees we can charge you for overdrawing your account.
What if I want Desertview FCU 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, complete the form below and return to either of our offices or mail it to:
Desertview FCU
PO Box 580
____I want Desertview Federal Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions on the following accounts:
Account #____________
Account #____________
Account #____________
____I do not want Desertview Federal Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions on the following accounts:
Account #____________
Account #____________
Account #____________
Printed Name:_________________________________
Signature:____________________________________
Date:________________________________________
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