ODP Model Form A-9
What you need to know about overdrafts and overdraft fees
An overdraft occurs when you do not have enough money in the available balance in your checking account at the time a transaction is posted, but we pay it anyway. We can cover your overdrafts in two different ways:
- We have standard overdraft practices called Overdraft Privilege that come with your account.
- We also offer overdraft protection plans, such as a link to a savings account or a line of credit (if you qualify), which may be less expensive than our standard overdraft practices.
To learn more, ask us about these plans or visit macu.com/overdraft-protection.
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:
- Checks and other transactions made using your checking account number
- Automatic bill payments
We will not authorize and pay overdrafts for the following type of transactions unless you ask us to:
- 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 Mountain America pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of $25 each time we pay an overdraft.
- As a courtesy, we do limit the total fees for overdrawing your account to five per day.
What if I want Mountain America to authorize and pay overdrafts on my everyday debit card transactions?
If you want us to authorize and pay overdrafts on everyday debit card transactions, visit macu.com/overdraft-protection, call the service center at 1-800-748-4302 or come into your nearest branch.
For more information on overdrafts and available balances, see the Overdrafts section of the Membership Agreement, the terms of which are incorporated by reference.
