We can cover your overdrafts in two different ways:
- 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?
If you qualify, we do authorize and pay overdrafts for the following types of transactions:
- Checks and other transaction made using your checking account number
- Automatic bill payments
- ACH Transactions
We may not authorize and pay overdrafts for the following types of transactions unless you ask us to.
- ATM Transactions
- Everyday debit card transactions
If you do not opt-in, we may not authorize a debit card transaction and it may be refused by the merchant where you are using your card.
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 and we will assess a returned item fee if your transaction amount exceeds the current balance in your account.
What fees will I be charged if Landmark 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 and your transaction amount exceeds the current balance of your account.
- Your account may be assessed up to a total of five (5) Premium Overdraft, debit card overdraft or returned item fees per day.
What if I want Landmark to authorize and pay overdrafts on ATM and everyday debit card transactions?
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, update your preferences within Digital Banking, visit your local branch, or call 262-796-4500.