Overdraft Coverage Options
As a member of NET Credit Union, you can manage your money conveniently without the stress of bounced checks or insufficient funds. We realize that the unexpected sometimes happen, or perhaps you miscalculated your balance, and as a result an overdraft occurs. We’ve all done it; forgotten to deduct that ATM withdrawal or debit card purchase. To help protect you, we provide two overdraft options.
| Service | Cost |
|---|---|
| Overdraft Protection Services to Another Savings Account you have at NET Federal Credit Union | No fee per transfer |
| Overdraft Privilege | $25 OD Privilege Fee per item |
1. Overdraft Protection
Overdraft Protection services apply to all transactions on your checking account and may help prevent overdrafts by automatically transferring funds to your checking account from your savings account you may have at NET Credit Union. Generally, this service is set up automatically at account opening.
2. Overdraft Privilege
Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Even if you have Overdraft Protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Please review What Else You Should Know for other important information.
| Transactions Covered with Overdraft Privilege | Standard Coverage (No action required) | Extended Coverage (Your consent required) |
|---|---|---|
| Checks | X | X |
| ACH - Automatic Debits | X | X |
| Recurring Debit Card Payments | X | X |
| Online Bill Pay Items | X | X |
| Internet Banking Transfers | X | X |
| Telephone Banking | X | X |
| Teller Window Transactions | X | X |
| ATM Transactions | X* | |
| Everyday Debit Card Transactions | X* |
If you would like to select Extended Coverage for future transactions:
- Call us at (570) 961-5300
- Visit any branch
- e-mail us at info@netcreditunion.com
Enroll in Overdraft Privilege
- Log in to Digital Banking
- Go to More Widgets
- Open the “Overdraft Privilege” widget
- Click “Enroll”
- Click the “OPT IN” for the preferred account
- Click “Save”
Accounts will be charged the OD Privilege fee of $ 25 for handling each overdraft created by check, ACH, Point of Sale, ATM withdrawal, in-person withdrawal, or other electronic item that is paid and $ 30 for NSF items. An overdrawn balance must be repaid within 32 days. We may not pay items under your Overdraft Privilege if you do not maintain your account in good standing by bringing your account to a positive balance within every 32-day period for a minimum of 24 hours, if you default on any loan or other obligation to NET Credit Union or if your account is subject to any legal or administrative order or levy.