Nobody’s perfect. That’s why West-Aircomm offers Overdraft Privilege for life’s little imperfect moments. Whether it’s a check, an ACH transaction or an ATM / VISA debit card transaction… West-Aircomm’s got you covered.
What you need To Know about Overdrafts and Overdraft Fees
Understand Your Options
An overdraft occurs when you have insufficient *AVAILABLE BALANCE in your account to cover a transaction, but we pay it anyway.
*AVAILABLE BALANCE are the funds that are available for your use and is comprised of the actual balance minus any funds being held for debit card authorizations, check and ATM deposit holds. (Example-Actual balance $100.00 minus $50.00 debit card hold equals $50.00 AVAILABLE BALANCE).
We can cover your overdrafts in three different ways:
1) We have Basic Overdraft that comes with your account. Overdraft limits are subject to approval.
2) We offer Extended Overdraft protection upon your authorization (see below).
3) We also offer overdraft protection plans such as a link to your share/savings account which may be less expensive than our Basic and Extended Overdraft. To learn more, ask us about these plans.
This notice explains our Basic and Extended Overdraft practices.
What is the Basic Overdraft coverage plan that comes with my account?
We do authorize and pay overdrafts for the following types of transactions:
· Checks and other transactions using your checking account number
· ACH electronic payments for bills automatically deducted from your account
· Recurring Debit Card transactions, such as a monthly membership or subscription
We will not authorize and pay overdrafts for any of the following types of transactions unless you authorize us to:
· ATM Transactions, including cash withdrawals and transfers between accounts
· Everyday debit card transactions*, such as purchasing items at a store
*Unless you have chosen to opt in for Extended Overdraft Coverage, transactions that would create an overdraft will be declined at the time the transaction is initiated.
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.
What Fees will I be charged if West-AirComm Federal Credit Union pays my overdraft?
We will charge a fee of up to $30.00 each time we pay an overdraft.
There is no limit per day on the total fees we can charge you for overdrawing your account.
What if I want to revoke my authorization for West-Aircomm Federal Credit Union to pay these overdrafts on my ATM and everyday debit card transactions?
You can revoke your authorization for West-Aircomm Federal Credit Union to pay these overdrafts at any time. Visit one of our branches, call a member service representative at 724-775-9889 or mail a written revocation to PO Box 568, Beaver, PA 15009-0568. Your revocation must include both your name and your account number so we can properly identify your account.
Contact us at 724-775-9889 or firstname.lastname@example.org to opt in.