Life gets busy. TCU is here to help with overdraft protection options.
What is an Overdraft?
An Overdraft occurs when you do not have sufficient funds available in your checking account to cover a transaction, but we choose to pay it resulting in a negative balance in the account.
What fees are associated with overdrawing my consumer account?
TCU charges an Overdraft fee of $29. The fee is not charged when the overdrawn balance is $30 or less. Additionally, there is a three-per-day limit on charging the $29 fee for overdrawing the available balance in the checking account.
What are the Overdraft Solutions available at Travis Credit Union?
- Standard Overdraft Practices
- Overdraft Protection
- Debit Card Overdraft Coverage
Standard Overdraft Practices
With Standard Overdraft Practices, we may, at our discretion, authorize and pay certain transactions that will overdraw your account, and charge you an Overdraft Fee. These transactions include checks, automatic bill payments, recurring debit card payments, and other transactions made under your checking account.
This comes with all Travis checking accounts except Access Checking.
Overdraft Protection
This is an optional service that you can enroll in, which can link your checking account to a Share Savings, credit card, or line-of-credit account, and which may be less expensive than our Standard Overdraft Practices.
Our Ready Reserve Line of Credit is an unsecured revolving loan that you can link to any TCU checking account for overdraft protection. It provides you with deposits in $100 increments to your checking account to cover any overdrafts that may incur.
Learn More
Debit Card Overdraft Coverage
This is an optional service that you can enroll in, which allows you to choose how we handle your ATM and everyday debit card transactions if you don’t have sufficient funds available in your checking account.
Unless you opt-in, we will not authorize and pay overdrafts for everyday debit card transactions on your account.
Learn More
To enroll, change or remove Overdraft Options
Sign-on to Digital Banking or Contact Us
Actions to help prevent and manage overdrafts.
Know Your Balance
Use our Mobile app or online banking service to stay on top of your spending and balance.
Frequently Asked Questions (FAQs)
What is a Ready Reserve Overdraft Line of Credit?
The Ready Reserve Overdraft Line of Credit is an unsecured revolving loan that you can link to your checking accounts as a source of Overdraft Protection. This product provides a safety net in the event that you need emergency funds for your checking account.
How does the Ready Reserve Overdraft Line of Credit work?
In the event your checking account becomes overdrawn, your Ready Reserve Overdraft Line of Credit will protect your checking account by transferring funds in $100 increments to cover the overdraft.
What if I have more than one checking account? Can I use this product for more than one checking account?
Yes, this product can be linked to multiple checking accounts – you just have to be the primary owner on the checking account that gets linked.
Does this Line of Credit report to the Credit Bureaus?
Yes, this is an Active Revolving Loan, and will be reported to all three major credit reporting bureaus. This means that we can help you establish new positive credit, even if you are not using the overdraft protection.
So, how much do I have to pay to have this Ready Reserve Overdraft Line of Credit?
This product is designed to save you money – there are no annual fees and no overdraft transfer fees or monthly service fees.
How do I pay it back?
The easiest way to make payments is through your Online Banking. You can also make payments in person at a branch or over the phone.
How much is the payment and when is it due?
If you choose to make monthly payments on the balance, a minimum payment of $20 or 2% of the balance is required monthly and is due by the 30th of the following month.
Will I get a separate statement in the mail for this product?
The statement for the Ready Reserve Overdraft Line of Credit will be located on your regular monthly banking statement. Please remember to sign up for e-Statements to have quick access to your bank statements online at all times.
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