Overdraft Privilege & Protection

  

FAQ

What is an Overdraft?

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 Offer Overdraft Protection which is a link to your savings account, and/or your Line of Credit, which may be less expensive than our Overdraft Privilege. To learn more, ask us about these plans.
  • Overdraft Privilege is offered at WESLAs discretion and your permission. This allows us to overdraw your account for up to $600.00, including fees, for a maximum term of 30 days.

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 do not authorize and pay overdrafts for the following types of transactions unless you ask us to (by signing up for our Overdraft Protection):

  • ATM Transactions
  • Everyday debit card transactions

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 WESLA Federal Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $32 each time we pay an overdraft.
  • There is no limit on the total fees we can charge you for overdrawing your account.

What if I want WESLA 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;

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