Whether it's an honest mistake in balancing your checkbook, an unforeseen expense, or a temporary shortfall, sometimes your balance falls below zero. Overdraft Privilege can help you make sure that a small problem won't get any bigger.
With Overdraft Privilege, transactions that overdraw your account will be honored up to a maximum preset limit- with no applications, credit checks, and no worry. In fact, Overdraft Privilege is automatic to most CTCU checking accounts. CTCU members can contact the credit union to verify their eligibility. For each transaction covered by Overdraft Privilege, a $30.00 NSF fee is charged to your account- that’s less than the cost charged by most merchants for a returned check- and you’ve saved the embarrassment a returned check can cause.
Here are a few helpful tips to avoid exceeding your account balance, reserving Overdraft Privilege for when you really need it.
Use eBranch and ART to track checks that have cleared, and make sure you have available funds to cover any new purchases or payments. Every check covered beyond your balance is subject to the standard $30.00 NSF fee.
Set up your account through eBranch to notify you by email when your balance has fallen below the minimum amount you specify, or when a specific check has cleared.
CTCU works to make your funds available as quickly as possible after a deposit, but there are cases where check holds apply. Electronic Deposits are available on the same day we receive the deposit.
Each time you access your Overdraft Privilege service through an overdrawn check, there is a $30.00 NSF fee assessed per transaction that you must deduct from your check register.