Hoosier United Credit Union - Overdrafts and Overdraft Fees Form

Overdrafts and Overdraft Fees Form

What You Need to Know About Overdrafts and Overdraft Fees

Q:		WHAT IS AN OVERDRAFT?
A:		An overdraft occurs when you do not have enough money in your account to cover a transaction, but Hoosier Farm Bureau Credit Union pays it anyway. We can cover your overdrafts in two different ways: We have standard overdraft services that come with your Hoosier Farm Bureau checking account - this notice explains these standard overdraft services. We also offer members overdraft protection plans, such as a link to a savings account, which may be a less expensive alternative. To learn more about these plans, ask one of our Member Service Representatives for details.

Q:		WHAT ARE THE STANDARD OVERDRAFT SERVICES THAT COME WITH MY ACCOUNT?
A:		Hoosier Farm Bureau authorizes and pays overdrafts for checks and other transactions made using your checking account number or automatic bill payments We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below for this authorization). ATM transactions One-time Debit card transactions (ex: gas stations, grocery stores) 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.**

Q:		WHAT FEES WILL I BE CHARGED IF HOOSIER FARM BUREAU CREDIT UNION PAYS MY OVERDRAFT?
A:		Under our standard overdraft services: We will charge you a fee up to $30.00 each time we pay an overdraft. There is no limit on the total fees we can charge you for overdrawing your account.

Q:		WHAT IF I WANT HOOSIER FARM BUREAU CREDIT UNION TO AUTHORIZE AND PAY OVERDRAFTS ON MY ATM AND DEBIT CARD TRANSACTIONS?
A:		If you want Hoosier Farm Bureau Credit Union to authorize and pay overdrafts on ATM and one-time debit card transactions, up to your authorized approved limit, complete the form below and bring it to our office location, or mail it back to Hoosier Farm Bureau Credit Union in the enclosed postage-paid envelope. You may also call 317-692-7607 or toll free 1-800-723-3276 ext.7607 and leave your name, account number, and a message that you want to opt-in to our overdraft service.