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Save me from the hassle and embarrassment
of having a transaction declined!If you want Your Community Credit Union to continue to authorize and pay overdrafts
on your ATM and every day debit card transactions, fill out the form below or
call 434/528-9016 or 800-335-0069.
Why Should I Opt In?
By opting in, you authorize Your Community Credit Union to cover your ATM and everyday debit card transactions when you do not have enough money in your account. For those times when life doesn't go according to plan, this service may help prevent you the embarrassment of a declined ATM or every day debit card transaction. The only time you pay a fee for this service is when you use this service - giving you greater flexibility in managing your money.
For existing accounts
If you do not opt in, beginning July 1, 2010, your ATM and everyday debit card transactions will NOT be protected under Your Community Credit Union’s overdraft protection.
For new accounts
If you open new account on or after July 1, 2010, your ATM and everyday debit card transactions will not be protected under Your Community Credit Union’s overdraft protection unless you opt in.
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:
- We have standard overdraft practices that come with your account.
- 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?CVFCU will authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
After June 30, 2010, CVFCU will not authorize and pay overdrafts for the following types of transactions unless you ask us to by opting in (see below):
- ATM transactions
- Everyday debit card transactions
We pay overdrafts at our discretion, which means we will 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.
What fees will I be charged if Central Virginia FCU pays my overdraft?
- We will charge you a fee of up to $30.00 each time we pay an overdraft.
- We will charge no more than 5 paid overdraft fees per day, or a maximum of $150.00 per day in paid overdraft fees.
Please note that additional unrelated fees may still be assessed on the account.
How do I Opt In?If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions after June 30, 2010, please complete the form above. Or just give us a call at 434/528-9016 or 800/335-0069.
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