Get Overdraft Protection - True Sky Credit Union

If you have $200 in your checking account and you use your debit card to make a $5, a $10, a $25, and a $200 purchase before you realize you've overdrawn your account, you'd only pay a single overdraft fee for the $200 purchase if your bank used the chronological approach.

If you choose to opt in to debit card and ATM overdraft, you are usually allowed to make ATM withdrawals and debit card purchases even if you do not have enough funds at the time of the transaction. However, you will generally incur fees on transactions that settle against a negative balance later.

Once you open a credit union current account and are over 18, you can apply for an overdraft. You may be asked to supply some documents, which usually includes a payslip and previous current account statements.

Overdraft protection is a service provided by your bank that ensures your transactions are covered if you have insufficient funds in your checking account. The bank will automatically move funds you have available in another linked account to the overdrawn account.

Fortunately, you can get an overdraft fee refund - and NSF, late payment, and bank fees are often refundable, too. All you need to do is ask the bank and hope you get a service agent who can help.

An Overdraft Protection Line of Credit is a revolving loan with limits ranging from $500 up to $2,500. If your checking account doesn't have sufficient funds, the difference will automatically be covered by your line of credit. You can also use your line of credit to cover unexpected expenses or emergencies. Apply Now.

If a check is presented to the credit union for payment and there are not enough funds in the checking account, Overdraft Protection will look into secondary sources (usually savings accounts) for funds to clear the draft. Overdraft Protection will transfer only the amount needed to clear the draft.