Overdraft Opt In

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 savings account, which may be less expensive than our standard overdraft practices. To learn more, ask 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 will 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 Mid-Atlantic FCU pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $31.00 each time we pay an overdraft
  • There is no limit to the amount of OD Fees that can be charged per day.

What  is the time period in which I must repay my overdraft?

  • 30 days.

Under which circumstances will my overdraft not be paid?

  • If your account does not have Priviledge Pay.
  • If your account does not have Overdraft Protection from another Share account.
  • If your account does not have a line of credit attached to it.

What if I want Mid-Atlantic FCU to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 301-944-1760 option 3, or complete and submit the form below.

Overdraft Opt In From

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