OUR STANDARD OVERDRAFT PROTECTION

What is an overdraft?

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, for which you can opt-in below.

  2. We also offer overdraft protection plans, such as a link to your other accounts, which may be less expensive than our standard overdraft practices. For more information, see “Overdraft Protection Plans” below.

This notice explains our standard overdraft practices.

What are the standard overdraft practices?

We call our standard overdraft practice "Overdraft Privilege". 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 (see below):

  • 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?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30.00 each time we pay an overdraft*.

  • We will not pay any overdrafts that cause your checking account to go more than $500 into the negative.

If you do not opt-in to our standard overdraft practices:

  • We will charge you an NSF fee of $30.00 each time we reject an item*.

* A particular item may be presented for payment multiple times. You may be charged an NSF or overdraft fee for each presentment.

What options do you have for opting into Overdraft Privilege?

  • I want you to authorize and pay overdrafts on my ATM and everyday debit card transactions.

  • I do not want you to authorize and pay overdrafts on my ATM and everyday debit card transactions. I understand these transactions may be declined by the merchant and I will pay an NSF fee.

  • I do not want you to authorize or pay any overdrafts on my account. I understand my transactions may be declined by the merchant and I will pay an NSF fee.

What if I want you to authorize and pay overdrafts?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call (864) 948-8200, visit www.vitalfcu.com, or complete the form below and present it at a branch or mail it to: 1000 Asheville Hwy, Spartanburg, SC 29303.

You have the right to revoke your consent at any time by contacting us at the above addresses/phone number(s).

OVERDRAFT PROTECTION PLANS

You may choose an overdraft protection plan that “links” your accounts in order to cover your overdrafts. Please see Page 3 for other important information regarding the terms and conditions of our overdraft programs.

How does it work?

You can tell us to “link” a savings or loan account to your checking account, so if you cause an overdraft, we will transfer money from your linked account to pay the overdraft. If there’s not enough money in any of your linked accounts, we will follow your instructions for Standard Overdraft Practices above.

What fees will I be charged?

  • If you have no money available in any of your linked accounts:

    • An NSF fee of $30.00 each time we reject an item, if you have told us to reject items*; or

    • An overdraft fee of $30.00 each time we pay an item, if you have authorized us to pay overdrafts using our Standard Overdraft Practices*.

Also note:

    • There is no limit on the total fees we can charge you for overdrawing your account.

    • We may increase fees at any time. See our fee schedule for the most current fees.

* A particular item may be presented for payment multiple times. You may be charged an NSF or overdraft fee for each presentment.

What choices do you have for overdraft protection from linking your accounts?

  1. Yes, please transfer money from my Regular Share Savings Account to cover overdrafts from my checking account.

  • The number of transfers may be limited by federal regulation. See your Membership Agreement or Truth in Savings disclosures for more information.

  • If you link a savings account: The number of transfers may be limited by federal regulation. See your Membership Agreement or Truth-in-Savings disclosures for more information.

2. NO, don't link my accounts


Right to Revoke

You have the right to revoke or change your overdraft elections at any time by contacting us at the above addresses/phone number(s).