Checking Account

Count on free CEFCU Checking

with great benefits.

Overdraft Protection

Avoid unwanted fees and declined transactions with affordable overdraft protection.

Choose the Overdraft Transfer Plan or the Overdraft Protection Plan or for more information on Overdraft Protection, review the Overdraft Protection FAQs or contact CEFCU.

Overdraft Transfer Plan

Avoid overdrawing your account by adding the Overdraft Transfer Plan to your account or contact CEFCU for more information.

Coverage & Fees

Transfers are available in $50 increments from your Savings account or in $200 increments from your Insured Money Market Account (IMMA) as long as funds are available. The maximum cost per day to transfer funds is just $8.

Contact CEFCU to add the Overdraft Transfer Plan to your account or for more information.

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Overdraft Protection Plan

Overdraft Protection

This offers protection for non–ATM withdrawals and non–one–time Debit Card transactions. You are automatically enrolled when you open a Checking account or IMMA. It is at our sole discretion to authorize and pay transactions, and a fee would be assessed.

Debit Overdraft Protection

This protection covers Debit Card transactions — even when you don't have the funds in your account.

Not only does Debit Overdraft Protection give you a safety net in case of emergencies, it also allows you to avoid the embarrassment of declined transactions.

Coverage & Fees

for both Overdraft and Debit Overdraft Protection

Debit Overdraft Protection is available for Debit Card or ATM transactions; and when you open a CEFCU Checking account, you receive Overdraft Protection on checks, electronic transfers, and other transactions. As of April 1, 2014, if you need to use it, the fee is $30 per item with a daily limit of $120.

You must repay any overdrawn balance on your Checking account immediately upon notification of the overdraft by depositing the necessary funds into your Checking account. Failure to repay overdrafts in a timely manner will result in account closure.

For more information on protecting your account, contact CEFCU or enroll in Debit Overdraft Protection today!

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Frequently Asked Questions

What is an overdraft and how is it covered?

Overdrafts occur when you don't have enough money in your Checking account to cover a transaction. CEFCU can cover overdrafts in two ways.

We have:

  • CEFCU’s Overdraft Protection Plan. CEFCU may pay the item and charge you a $30 per item overdraft fee or return the item and charge you a $30 Nonsufficient Funds (NSF) Fee. Both fees have a daily maximum of $120.
  • CEFCU’s Overdraft Transfer Plan that links to a Savings account, Insured Money Market account, or Credit Card account. There is a fee of $8 per day for overdraft transfers, which may be less expensive than CEFCU’s Overdraft Protection Plan.

What are the overdraft protection options that come with my CEFCU account?

You are automatically enrolled in Overdraft Protection when you open a Checking account or IMMA. CEFCU authorizes and pays at our discretion overdrafts made using checks and other transactions made using your Checking or IMMA account number. If CEFCU pays the overdraft, you will be charged a $30 per item overdraft fee with a daily maximum of $120.

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to by enrolling in Debit Overdraft Protection:

  • ATM transactions
  • One-Time Debit Card transactions

CEFCU pays overdrafts at our discretion, so even if you have opted in for Debit Overdraft Protection, we do not guarantee always to authorize and pay any type of transaction.

What is the difference between Debit Overdraft Protection and the Overdraft Transfer Plan?

The Overdraft Transfer Plan is an inexpensive way to keep you from overdrawing your account. If funds are available, for an $8 charge, money is transferred from your Savings account, Insured Money Market account (IMMA), or Credit Card account to cover overdrafts.

Debit Overdraft Protection is an additional type of coverage for ATM transactions and one-time Debit Card purchases. Debit Overdraft Protection gives CEFCU permission to cover such transactions on your behalf.

If I already signed up for an Overdraft Transfer Plan, do I have to opt in to the Debit Overdraft Protection, too?

Yes, you must sign up for Debit Overdraft Protection if you would like CEFCU to authorize ATM and one-time debit transactions when you do not have funds available in your account or in the accounts you designated when you signed up for the Overdraft Transfer Plan. If CEFCU pays an overdraft under this plan, you will be charged a $30 per item overdraft fee with a daily maximum of $120 vs. the $8 fee associated with the Overdraft Transfer Plan. However, the Debit Overdraft Protection Plan is offered to help you avoid embarrassment or inconvenience in the event the needed funds are not available in the accounts you designated when you signed up for the Overdraft Transfer Plan.

What benefits do I receive for signing up for Debit Overdraft Protection?

With Debit Overdraft Protection, you can avoid the embarrassment of having a transaction declined at a merchant. You can enjoy additional peace of mind, knowing you have a safety net if you are faced with an emergency purchase when you do not have time to make a deposit.

Will I have to pay a fee if I am overdrawn because of a Debit Card or ATM transaction, and I have opted in for Debit Overdraft Protection?

If you need to use it, the fee is $30 per item with a daily limit of $120. You will not be charged a fee if the total amount overdrawn that day is less than $5.

To avoid fees, you must make a deposit before 8 p.m. (CT) weekdays and 5 p.m. (CT) Saturdays the day of the transaction.

If you do not opt in to Debit Overdraft Protection and also have not signed up for the Overdraft Transfer Plan, your ATM and one-time debit transactions will be declined if there is not enough money in your account. You will not be charged a fee if you have not opted in to Debit Overdraft Protection and a transaction is denied.

Will my debit charges always go through if I choose to have Debit Overdraft Protection?

Not necessarily. CEFCU may choose, based on your account history, not to pay a transaction.

How long will I have to make a deposit to avoid any overdraft fee?

To avoid an overdraft fee, you must make a deposit before 8 p.m. (CT) weekdays and 5 p.m. (CT) Saturdays the day of the transaction.

What will happen to any automatic payments I have set up with my CEFCU Debit Card?

These transactions will continue to be handled the way they are now. If a transaction overdraws your account, your Overdraft Transfer Plan will kick in first (for a $8-per-transfer fee); and if funds are not available, you will be charged an overdraft fee.

If I decide not to opt in for Debit Overdraft Protection, will you still pay when I use my Debit Card and do not have enough in my account?

Unless you have signed up for the Overdraft Transfer Plan and have adequate funds in your designated account(s) to cover the overdrawn balance plus the Overdraft Transfer Fee, CEFCU will decline ATM and one-time Debit Card transactions if you do not choose to have Debit Overdraft Protection and there is not enough money in your account to cover the transaction.

Can I choose to not have Debit Overdraft Protection coverage?

Yes. If you do not choose to opt in to Debit Overdraft Protection, CEFCU will simply decline ATM and one-time Debit Card transactions if you do not have the money available in your account. No fees will be charged in this case.

If I opt in to Debit Overdraft Protection, can I change my mind?

Yes. You can change your opt-in status by using the Debit Overdraft Protection Options form.

What should I do?

Every consumer is different, so it is important to do what's right for you. Your account is automatically enrolled in Overdraft Protection.  However, unless you request Debit Overdraft Protection, CEFCU will not authorize ATM or one-time Debit Card transactions if you do not have the money available in your account. If you would like to discuss the different options, contact CEFCU.

If you have questions concerning how to opt in to Debit Overdraft Protection for ATM and Debit Card transactions or would like to sign up for Overdraft Protection or the Overdraft Transfer Plan, please contact CEFCU.

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