Fee Schedule Effective May 1, 2016
What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money available in your account to cover a transaction, but we pay it anyway.
Your account may have two different balances: the “actual” balance and the “available” balance. We use your available balance when determining whether a transaction will cause your account to overdraw and incur any fees. An example of this is: Your account has a beginning balance of $200.00. You use a pay-at-the-pump machine to purchase gas. The gas station places a $100.00 hold on your account. Your “actual” balance is still $200.00, but your “available” balance is now $100.00 until that hold is released (regardless of how much you actually purchase in gas).
We can cover your overdrafts in two different ways:
This notice explains our standard overdraft practices.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
*Once your draft path has been depleted, only checks you have written, recurring debit transactions, and ACH items will overdraft your checking up to the overdraft tolerance amount. * (tolerances are $400.00 for classic checking, $700 for prestige checking and include any fees charged)
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
If we do not authorize and pay an overdraft, your transaction will be declined.
What fees will I be charged if ASCU pays my overdraft?
Under our standard overdraft practices:
We will charge you a fee of up to $28 each time we pay an overdraft
Also, if your account remains negative for more than 30 days, the account will be considered “not in good standing” and may be closed.
Overdraft Payment Fee Schedule is:
$0.01 to $10.00 – No Charge
$10.01 to $100.00 – $25.00
$100.01 and over – $28.00
What if I want ASCU 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 may opt-in through your online banking account.
Once you have opted-in, you may opt-out using any of the above-listed methods.