FAQs

How do I avoid an overdraft on my account?

The best way to avoid overdraft and NSF fees is to keep your checking account balanced so you don’t overdraw it.

  • Know how much money you have in your checking account by keeping your account register up-to-date. Record all checks when you write them and other transactions when you make them. And, don’t forget to subtract any fees.
  • Record all transactions, including ATM withdrawals and fees, check card purchases, and online payments.
  • Don’t forget about automatic bill payments you may have set up for utilities, insurance, or other recurring payments.
  • Keep an eye on your account balance. Remember that some checks and automatic payments may not have cleared yet.
  • Review your account statements each month.
  • Review your account online, through mobile banking, at an ATM, at a branch location or by calling the Member Contact Center at (817) 882-0800 or 1 (800)-333-9934 to determine your available balance.

What options does EECU offer for Overdraft Protection?

  • Transfer from a share (savings) account
  • Transfer from a line of credit
  • Courtesy Overdraft Protection

How is my share (savings) account used as overdraft protection?

Once this service has been authorized and set-up in our system, and if there are available funds in your savings account, we will automatically transfer the funds electronically from your savings account.

Is there a cost to transfer the funds from my savings account?

As of July 2016, there is a $3 transfer fee each time a transfer is made. That fee is reflected on our Fee Schedule and is subject to change. The overdraft transfer service may be a less expensive alternative to Courtesy Overdraft Protection.

Are there any restrictions to how many transfers can be made from my savings account?

Under current federal regulations, you may have no more than six (6) electronic transfers from your savings account per calendar month (transfers via Online Banking count towards this total).

What if there are no available funds in my savings account, or I have reached my maximum number of transfers?

If there are no available funds in your savings account, or you have reached the limit of six (6) transfers in one month, we may, at our discretion, pay the overdraft through our Courtesy Overdraft Protection program.

What is Courtesy Overdraft Protection?

Courtesy Overdraft Protection is a service for qualifying members that allows us to pay certain checking account transactions when there are insufficient funds in your account. Checking transactions that qualify for Courtesy Overdraft Protection are checks, automatic bills and ACH transactions. Courtesy Overdraft Protection provides an added layer of protection on eligible checking accounts to help members avoid “bounced” checks and declined transactions. Click here for a detailed discussion of our Courtesy Overdraft Protection program.

How does Courtesy Overdraft Protection work?

If your account is in good standing, and your other overdraft sources are not available, we may pay certain insufficient items. Your checking account will be overdrawn by the amount that you exceeded your balance plus the amount of the Courtesy Overdraft Protection fee.

What is the cost for Courtesy Overdraft Protection?

As of March 1, 2017, there is a $34 fee assessed for each transaction that is paid via Courtesy Overdraft Protection. That fee is reflected on our Fee Schedule and is subject to change. You may be charged more than one Courtesy Overdraft Protection fee if we pay multiple transactions when your account is overdrawn. There is no limit on the total Courtesy Overdraft Protection fees we can charge you for overdrawing your account.

How long do I have to repay any Overdrawn Balance?

You must make a deposit to repay the overdrawn balance immediately.

What balance do you use to determine when my checking account is overdrawn?

“Available balance” is used to determine when your account is overdrawn. The “available balance” is the amount of the “actual balance” that is available to you for use without incurring an overdraft or transfer fee. In other words, the “available balance” is your “actual balance” (i.e., the amount of money in your account at the beginning of a business day) less any pending ATM withdrawals, debit card purchases, ACH transaction, checks being processed or other pending withdrawals from your account and less any deposits that are not yet available due to our funds availability policy. The “available balance” does not include checks you have written that have not yet been processed or pre-scheduled debits (e.g., health club dues automatically debited from your account at a certain time each month). Click here for a detailed discussion of balance types and how transactions are posted to an account.

Do I have to opt-in to Courtesy Overdraft Protection for the payment of overdrafts associated with checks, bill pays and ACH transactions?

NO, although we may ask that you acknowledge your agreement to the receipt of such service by completing and submitting an Acknowledgement Form.

Do I have to opt-in for Courtesy Overdraft Protection for the payment of overdrafts associated with ATM and everyday debit card transactions?

YES. You will not be eligible for Courtesy Overdraft Protection on ATM and everyday debit card transactions unless you “opt-in” for such protection and be eligible for such service. Download and complete the Overdraft Consent Form for ATM and Everyday Debit Card Transactions to opt-in.

What happens if I don’t opt-in for the payment of ATM and everyday debit card transactions?

If you are making a purchase with your debit card and there are no available funds in your checking account, and your other overdraft sources are depleted, the transaction will be declined.

How do I opt-in to Courtesy Overdraft Protection?

All we need is your written confirmation. There are a number of ways for you to opt-in. You may visit any EECU Financial Center or contact our Member Contact Center at (817) 882-0800 or 1 (800) 333-9934. Regardless of how you choose to opt-in it will only take a few minutes.

How do I opt-out of Courtesy Overdraft Protection?

You may opt-out of Courtesy Overdraft Protection by speaking with a Financial Center representative or by calling our Member Contact Center at (817) 882-0800 or 1 (800) 333-9934.

What else should I know about Courtesy Overdraft Protection?

We may, from time to time, limit the number of accounts eligible for overdraft services. Courtesy Overdraft Protection represents a purely discretionary courtesy overdraft service that we may provide from time to time and which may be cancelled, withdrawn or withheld by us at any time without prior notice or reason of cause.

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