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:
This notice explains our standard overdraft practices.
- We have standard overdraft practices that come with your account. (See Courtesy Pay disclosure for details.)
- 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 us about these plans.
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 (ACH transactions)
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
If we do not authorize and pay an overdraft, your transaction will be declined.
What fees will I be charged if The Queen's Federal Credit Union pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $30 each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
What if I want The Queen's Federal Credit Union to authorize and pay overdrafts on my ATM and everyday debit card
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 808-547-4521 and select option
3, or complete the form below and submit it electronically.
If you authorize the credit union to pay overdrafts for ATM and everyday debit card transactions, you may revoke it at any time.