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:
We have standard overdraft practices that come with your account.
We also offer overdraft protection plans, such as a link to another account, which may be less costly 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:
We will not authorize and pay overdrafts for the following types of transactions without your consent:
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 may be declined.
What fees will I be charged if Mainstreet Credit Union pays my overdraft?
Under our standard overdraft practices: