Stay Protected — Opt In For Overdraft Privileges
Debit and ATM cards are a convenience it’s hard to imagine living without. Using
debit and ATM cards makes it easier than ever to make purchases and payments, but
it also makes it easier to overdraw a checking account and incur fees associated
with overdraft protection services. As a result, federal lawmakers have created
new rules governing overdraft privilege and protection programs that go into effect
on July 1, 2010.
You now have an option concerning whether you want to continue to have our overdraft
service cover your AT M and everyday debit card transactions. Please take note that
this opt-in rule applies only to ATM and everyday debit card transactions and does
not pertain to overdraft protection services associated with written checks or recurring
debit transactions, such as regularly scheduled bill payments.
Why opt in?
AmeriChoice Federal Credit Union overdraft privilege program is designed with your
protection and convenience in mind. The vast majority of our members do not overdraw
their accounts and incur fees. However, life doesn’t always go according to plan,
and overdrafts do occur. Without an overdraft privilege program, your ATM and everyday
debit card transactions may be declined if you attempt to make a transaction without
For existing accounts:
If you do not opt in, beginning August 15, 2010, your ATM and everyday debit card
transactions will not be protected under AmeriChoice Federal Credit Union’s overdraft
For new accounts:
If you open a new account on or after July 1, 2010, your ATM and everyday debit
card transactions will not be protected under AmeriChoice Federal Credit Union’s
overdraft privilege program unless you opt in.
How to opt in
Simply click the link above, fill out the form and fax it to 717-697-3713.
You may also call 1-800-240-4364 and speak to a Member Service Representative or
log onto Home Banking and send us a message via the message center
What You Need to Know about Overdrafts and Overdraft Fees
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
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans, such as a link to a savings account,
which may be less expensive than our standard overdraft practices. To learn more,
ask us about these plans.
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
Effective July 1, 2010 for new members and August 15, 2010 for current members,
we will not authorize and pay overdrafts for the following types of transactions
unless you ask us to:
- 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 AmeriChoice Federal Credit Union pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $30 each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
What if l want AmeriChoice Federal Credit Union to authorize and pay overdrafts
on my ATM and everyday debit card transactions?
Simply click the link above, fill out the form
and fax it to 717-697-3713.
You may also call 1-800-240-4364 and speak to a Member Service Representative or log onto Home Banking and send us a message via the message center.