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 with standard overdraft practices that come with your account.
This notice explains our standard overdraft practices.
Ø 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
We will not authorize and pay overdrafts for the following types of transactions without your consent:
· 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 transaction.
If we do not authorize and pay an overdraft, your transaction will be declined.
Ø What fees will be charged if McIntosh Chemical FCU pays my overdraft?
Under our standard overdraft practices:
· We will charge you a fee of up to $27.00 each time we pay an overdraft
· There is no limit per day on the total fees we can charge you for overdrawing your account
Ø What if I want McIntosh Chemical FCU to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, you will need to complete the form below and click Submit Authorization. Alternatively, you can call (251) 944-8034 or complete the form, print, and drop it by our office or mail it to: P O Box 198, McIntosh, AL 36553. You can revoke your authorization for McIntosh Chemical FCU to pay these overdrafts at any time by any of the above methods. Your revocation must include both your name and your account number so that we can properly identify your account.