What You Need to Know about Overdrafts and Overdraft Fees

 

After August 15, 2010, we will not authorize and pay overdrafts for the

following types of transactions unless you ask us to (see below)

 

 

 

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:

 

1. We have standard overdraft practices that come with your account.
2. 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

 

We do 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 that 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 Polish National Credit Union?

 

Under our standard overdraft practices :

 

• We will charge you a fee of $20 each time we pay an overdraft
• There is no limit on the total fees we can charge your account

What if I want Polish National Credit Union to authorize and pay overdrafts on my ATM and

everyday Debit Card Transactions?

         

• An email with the information below needs to be sent to pncu@pncu.com
• Or print this page and sign and mail to: PNCU, 46 Main Street, Chicopee, MA 01020

_________________________________________________________________________________________________________\

   

      

By agreeing to have my overdrafts paid by the credit union, I understand that I have a right to revoke or change my election at any time. The revocation must be provided in writing.

 

                                                        

______  I do want  Polish National Credit Union to authorize and pay overdrafts on my ATM and

              everyday Debit Card transactions

 

 

Member Name:  ____________________________________________________

 

Member Account Number:  ___________________________________________

 

Date:  ____________________________________________________________