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 or to an overdraft line of credit, which may be less expensive than our standard overdraft practices. To learn more, call 402.472.2087 to 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
We will not authorize and pay overdrafts for the following types of transactions without your prior consent.
- ATM transactions
- Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee 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 the University of Nebraska Federal Credit Union pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $25 each time we pay an overdraft.
- We will not charge you a fee if the item presented is $5 or less
- There is no limit per day on the total fees we can charge you for overdrawing your account
What if I want the University of Nebraska Federal Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, complete the online form below or click here to print and mail in the form. If you authorize the credit union to pay overdrafts for ATM and everyday debit card transactions, you may revoke it at any time by calling us at 402.472.2087, or by visiting a branch or by mailing a letter to: P.O. Box 82847, Lincoln, NE 68501. Your revocation must include both your name and your account number so that we can properly identify your account.