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Overdraft Services

What you need to know about ATFCU Overdraft plans and Overdraft fees

An overdraft occurs when you do not have enough available funds in your account to cover the amount of a transaction but we pay it anyway.  It is very important for you to understand the different types of overdraft plans that we offer.   The overdraft protection plan allows us to transfer available funds from other accounts you have to pay overdrafts with a nominal transfer fee of $5.00 per transfer.  The overdraft privilege plan allows your account to go negative until you have a chance to make a deposit to the account but the fees associated with overdraft privilege are significantly higher; $27.50 per transaction.  We highly encourage all of our members to carefully watch their account balances to avoid overdrafts that will cause the higher fee to be charged to your account.  Sign up for Alerts through Online Banking so that we can send you an email when your account balance gets low or you have an overdraft so that you can be aware of your account balance and avoid additional fees.

Please look at the information below for additional information about our overdraft protection programs.  Austin Telco Federal Credit Union (ATFCU) does not guarantee that we will pay an overdraft that allows your account to go negative.  Based on several factors regarding the history of your checking account with ATFCU, we set a maximum limit per day that we will consider allowing your account to go negative including fees.  You can log in to Online Banking  or call us at 512-302-5555 to inquire of the amount available for overdraft privilege on any given day.  The use of overdraft privilege can be costly to you due to the fees charged.  We encourage all of our members to only use overdraft privilege when absolutely necessary to avoid multiple fees for small transactions.  Accounts that remain negative past a 45-day grace period will be closed and the negative amount will be reported to the appropriate agency.

Overdraft Protection Programs

Type of Overdraft Protection Fee How It Works
Overdraft Protection $5.00 per transfer You authorize transferring available funds from another account you have with ATFCU such as a savings or checking account.  We automatically transfer for you, in increments of $50, enough funds to cover the amount of the transaction.  By federal regulation, all savings and money market accounts are limited to a total of six (6) transfers or withdrawals to another account of yours or to a third party in any month by means of preauthorized, automatic, or Internet transfer, by telephonic order or instruction, or by check, draft, debit card or similar order.
Overdraft Privilege for checks, automatic bill payments, and ACH transactions $27.50 maximum per item/transaction We pay overdrafts on checks, automatic bill payments, and ACH transactions at our discretion, which means we do not guarantee that we will always authorize and pay an overdraft.  We base our decision on whether or not to authorize and pay an overdraft based on several factors such as how long you have had an account with us, your history of repaying overdrafts in the past, and the amount of the item presented for payment.  If we do pay for this type of transaction, allowing your account to be overdrawn, we will charge a maximum fee of $ 27.50 per check, automatic bill payment or ACH transaction. If we do not pay an overdraft, your check, automatic bill payment, or ACH transactions will be returned and any applicable NSF fees will be charged to your account.
Overdraft Privilege for ATM transactions and one-time debit card transactions $27.50 maximum per item/transaction You must give us permission to authorize and pay overdrafts for ATM withdrawals and one-time debit card transactions. You can do this by completing an opt-in form, by telephone, or by opting-in electronically through Online Banking. You may revoke your permission at any time by contacting us in writing or by phone.  If you give us permission, we pay overdrafts on ATM transactions and one-time debit cards at our discretion, which means we do not guarantee that we will always authorize and pay an overdraft. If we do allow your account to be overdrawn and pay an ATM or one-time debit card transaction, you will be charged a maximum fee of $27.50 per transaction.  If we do not authorize and pay an overdraft, your transaction will be declined.  You will not be charged a fee for any transaction that is declined and not paid.  

 

If you wish to authorize overdraft privilege for ATM withdrawals and one-time debit card transactions you must opt-in.

To opt-in electronically:

  • Log on to Online Banking.
  • Select eServices from the main menu.
  • Then, select Opt-In ATM/Debit Overdraft.

To opt-in by phone:

Call 512.302.5555, ext 7190 or 800.252.1310, ext. 7190.

You may also print the Overdraft Services Opt-In Form and drop it off at one of our branch locations or mail it to

Austin Telco FCU
Attn: Member Services
8929 Shoal Creek Blvd
Austin, TX 78757

Sign up for E-Alerts to be notified when your account balance gets low or you have an overdraft to avoid additional fees.