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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 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 or line of credit, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

These FAQs explain 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 (see below):

  • ATM transactions
  • Every day (signature) 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 Austin Federal Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $33 each time we pay an overdraft for an everyday debit card, ACH, or sharedraft transaction, or $45 each time we pay an overdraft for an ATM transaction.
  • There is no limit on the total fees we can charge you for overdrawing your account

What if I want Austin Federal Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call us at 800-950-8143 or 512-444-6419.

What if I want to revoke my authorization to pay overdrafts on ATM and everyday debit card transactions?

You may revoke your authorization at any time by calling us at 800-950-8143 or by requesting it at any branch location or by sending a written request to us at: Austin Federal Credit Union, 1900 Woodward St, Austin, TX 78741
All Courtesy Pay elections are within the sole discretion of AFCU, and we have no contractual obligation with our members to pay or transfer any NSF item/transaction. Courtesy Pay is an optional service that we may provide as set forth herein to members in good standing. Courtesy Pay is not an entitlement, it is not a loan, and may be discontinued or denied at any time even though we have paid such items at other times. The Courtesy Pay program does not release you from your obligation to pay your debts including any amount by which your accounts may be overdrawn. Further, Courtesy Pay does not affect or limit the Credit Union’s other rights/options regarding NSF transactions under our other policies, procedures and applicable laws. Pursuant to your Membership Agreement, the Credit Union retains discretion to decide which items to pay. AFCU may revoke the privilege at any time without notice.