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The best way to know how much money you have available and avoid paying overdraft fees is to record and track all of your transactions closely. But mistakes happen … and that’s why we offer several overdraft options that can protect your checking account if you don’t have enough funds available to cover an item presented for payment.
Avoid Declined Transactions
Protection When Needed
Flexibility
Peace of Mind
You can protect yourself by setting up overdraft protection from your savings account. Then, if there is not enough available balance in your checking account to pay a transaction, EECU will automatically transfer money from your savings account. There is no fee for this type of transfer.
An Overdraft Protection Loan is there when you need it — and there’s no cost if you don’t use it. There is no fee for the transfer, but interest will accrue on the loan balance.
If your overdraft protection options have been exhausted we may, at our discretion, pay overdrafts through Platinum Overdraft. This means that we may approve and pay a transaction when there are insufficient available funds in your checking account - instead of returning or declining the transaction for non‑sufficient funds. When we do this, you may be charged a $14 fee, which is the same as the insufficient funds fee. However, you may avoid a returned item fee from the merchant if your item is paid by Platinum Overdraft. We will expect that you immediately make a deposit to restore your account to a positive balance.
For more information, terms, and conditions refer to the Membership and Account Agreement, Schedule of Fees, and/or credit agreement.
1Overdraft Protection from Savings, Overdraft Loan and Platinum Overdraft not available on Right Start Checking Accounts.
2Savings Account or Overdraft Loan must have funds available to cover the transaction(s). Overdraft Loan subject to approval.
3If you affirmatively consent (“opt in”), Platinum Overdraft may, at our discretion, pay checks and other transactions made using your checking account number, Online Bill Payment, ACHs, and recurring debit card transactions. You must also opt in for one-time debit card transactions (POS) to be considered for payment by Platinum Overdraft. There is a daily limit of four overdraft fees. If the overdraft amount is less than $14, we will not charge an overdraft fee. You may “opt out” of the Platinum Overdraft service at any time if you do not want us to consider paying your insufficient funds transactions. See Schedule of Fees. For more information about overdraft options, how checking account transactions are paid, your actual and available account balance, authorization holds/pending transactions, and how transactions are posted to your account, see How We Pay Your Checking Account Transactions.
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