Your financial safety net
Overdraft Services
Ensure checking or debit card transactions are covered in the event of nonsufficient funds.
Protect your finances with overdraft services
Avoid the frustration of a bounced check or declined debit card transaction with overdraft services from Mountain America. Explore the options below to ensure your checking or debit card transactions clear in the event your account balance runs low.
- Standard Overdraft Privilege—Allows checks, automatic withdrawals, and transactions made using your checking account number (ACH) to clear your account.
- Overdraft Privilege Opt-In for debit card transactions—Allows checks, automatic withdrawals, ACH, and debit card transactions to clear your account.
Available with or without opting-in to the options above:
- Linked Account Protection—This option may be less expensive than our other overdraft options. Link your checking to a savings account or credit line to cover an overdraft. If you link to a credit line, interest charges may apply.
Benefits of coverage
- Offers convenience—may provide uninterrupted coverage if you lack sufficient funds.
- Provides peace of mind—helps you avoid the awkwardness of a merchant declining your transaction.
- Provides added support—acts as a second line of defense for unexpected expenses.
Terms & Conditions, Rate & Fee Schedule
Compare overdraft service options
Ensure your transactions are covered
| Covered Transactions | Standard Overdraft Privilege | Overdraft Privilege Opt‑In for debit card transactions | ||||
|---|---|---|---|---|---|---|
| Everyday debit card transactions | ||||||
| Everyday debit card transactions | | |||||
| Checks and other transactions made using your checking account number | ||||||
| Checks and other transactions made using your checking account number | | | ||||
| Automatic bill payments | ||||||
| Automatic bill payments | | | ||||
| Features | How to make changes | |||||
| How to make changes | No action is required. Upon meeting eligibility requirements, the service automatically applies. You may opt out anytime. | Call 1-800-748-4302 or visit your nearest branch. If you are already a member, you may choose to opt in online. | ||||
| Cost | ||||||
| Cost | The overdraft fee is $25 with a maximum of five per day. | The overdraft fee is $25 with a maximum of five per day. | ||||
Benefits of coverage
Offers convenience
Provides peace of mind
Provides added support
Avoid fees with these account management tips
Follow these tips to manage your account like a pro:
- Sign up for free text or email alerts for low balances, transactions and other account activity.
- Get in the habit of checking your account balances daily. Our digital banking tools make this quick and easy.
- Don’t forget to factor in pending transactions, automatic bill payments and subscription withdrawals.
- Visit our financial guidance hub to access podcasts, videos and other online resources.
Overdraft FAQs
What is an overdraft?
An overdraft occurs if the available balance in your account is not sufficient to cover a transaction at the time it is presented for payment, and it is paid by Mountain America.
How do overdraft services work and what services are provided by Mountain America?
Linked Account Protection
By setting up Linked Account Protection on your account, Mountain America may honor transactions on insufficient funds by transferring money from another deposit account, or loan (credit card, etc.) as you have directed. Except for interest rates on loan accounts, there is no fee if overdrafts are paid with another deposit account or loan. Linked Account Protection may be set up with or without Overdraft Privilege. If set up with Overdraft Privilege, Linked Account Protection will be used as the first option.
Overdraft Privilege
Standard Overdraft Privilege: If the account does not have an available balance sufficient to cover the transaction at the time it is presented for payment, then Mountain America may pay the item on your behalf via Standard Overdraft Privilege. Standard Overdraft Privilege covers ACH (Automated Clearing House) and checks but excludes debit card transactions. If an overdraft item is paid with Standard Overdraft Privilege, Mountain America will charge an overdraft fee to your account in accordance with our fee schedule.
Overdraft Privilege Opt-In for Debit Card Transactions: In addition to the benefits of Standard Overdraft Privilege, this option will also cover your debit card transactions if you choose to opt-in by providing affirmative consent online, in the branch or over the phone. If an overdraft debit card transaction is paid with Overdraft Privilege Opt-In for Debit Card Transactions, Mountain America will charge an overdraft fee to your account in accordance with our fee schedule. However, if the account had sufficient available funds at the time the debit card transaction was authorized, no overdraft fee will be charged.
You may choose to opt-out at any time of both Overdraft Privilege options described above at your nearest branch, in digital banking or by calling the service center at 1-800-748-4302.
What is the eligibility criteria for Overdraft Privilege?
If a consumer account (primarily used for personal and household purposes) has been open for at least thirty (30) days, or if a business account has been open for at least sixty (60) days, and the account is maintained in good standing, which includes:
- bringing the account balance to a positive balance within every thirty (30) day period for a minimum period of twenty-four (24) hours,
- not being in default on any loan or other obligation to the credit union,
- not being subject to any legal or administrative order or levy, and
- the account par value* is maintained in the savings share, the Credit Union will have the discretion to pay within the Overdraft Privilege limits.
* The par value of each share will be $1 as required for membership.
Where can I find more information about overdraft services and nonsufficient funds (NSF) fees?
Details on overdraft services at the credit union can be found in our Membership Agreement.
All fees are listed in our Truth in Savings disclosure.
How do I change or opt-out of overdraft services?
You may remove Linked Account Protection at any time in the branch or over the phone.
You may opt-out of Standard Overdraft Privilege and/or Overdraft Privilege Opt-In for Debit Card Transactions at any time in digital banking, at the branch, or over the phone at 1-800-748-4302.
What is the difference between my available balance and my current balance?
Your available balance is the amount of money in your account that is available for you to use. The available balance takes into account things like holds placed on deposits and pending transactions (such as pending debit card purchases) that the credit union has authorized but not yet posted to your account.
Your current balance is the amount of money in your account at any given time. It reflects payment transactions that have posted to your account but not payment transactions that have been authorized and are pending. It also reflects the full amount of all deposits, even though some portion of a deposit may be on hold and may not be available to you.
What is the difference between an overdraft fee and a nonsufficient funds (NSF) fee?
An overdraft occurs if the available balance in your account is not sufficient to cover a transaction at the time the transaction is presented to us for payment. Overdraft transactions may be paid or returned unpaid for nonsufficient funds depending on how your account is set up. If the item or transaction is returned unpaid, you will be charged an unpaid item fee (also known as an NSF fee), as set forth in our fee schedule. If an overdraft item is paid, Mountain America will charge an overdraft fee to your account in accordance with our fee schedule.
Why are overdraft services offered by Mountain America?
Overdraft services are provided to give members an alternative to having a transaction returned or declined. Overdraft services provide a safety net for unexpected expenses or timing issues with deposits and allow bills and checks to be paid on time, helping protect credit scores. This approach aligns with the credit union's commitment to helping members meet their financial goals and achieve overall financial wellness.
Overdraft services also offer an alternative to services offered by check cashing companies, payday lenders and other similar businesses. Credit unions are designed to provide financial assistance in a more responsible and accessible manner. By offering overdraft services, members have options, from their financial institution, to decide what is in their best interest as it relates to account management.
What resources does Mountain America provide to help members avoid fees?
To help our members avoid overdraft and nonsufficient funds (NSF) fees, we recommend the following practices:
- Set up Linked Account Protection to automatically transfer funds from a member’s savings account or credit line to cover an overdraft for no fee. If linked to a credit line, interest charges may apply.
- Set up low balance alerts to receive text or email notifications in time to transfer funds or make a deposit to prevent overdraft occurrences.
- Regularly monitor checking account balances. This is easy to do using our mobile app and online banking services.
- Meet with a financial guide to schedule free financial coaching sessions to review budget and savings plans.
- Receive information about free financial literacy services, workshops and online resources.
How does Mountain America help members achieve financial wellness?
As a not-for-profit, cooperative financial institution, Mountain America focuses on helping members by providing resources, services and free financial guidance tailored to individual needs. Our branch and member services teams regularly meet with members to review their financial goals, assess potential ways to reach those goals, and then assist with a plan to move forward with budgeting and saving strategies.
What financial education services does Mountain America Credit Union offer?
Financial education plays a critical role in delivering on our mission to help members define and achieve their financial dreams. Mountain America offers free financial education and guidance to help members make informed decisions.
Mountain America provides workshops, financial coaching, webinars and podcasts and has a team of financial education experts that meet with individuals, community groups, businesses and other organizations to teach important financial topics such as saving for a down payment on a home, understanding mortgage loan options, budgeting, debt management, understanding credit scores, buying a car and much more.
Mountain America also partners with Banzai, an interactive educational platform that helps teach kids, teens and adults the basic principles of money management through simulating real-life experiences.
Save time with bill pay
Improve your credit score
Protect yourself against fraud
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. Overdrawn accounts must be brought current within 30 days to maintain good standing. For further information on Mountain America’s overdraft practices, refer to the Membership Agreement.
Overdraft Privilege Disclosure, Rate & Fee Schedule
