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. Merrimack Valley Credit Union and Bridgewater Credit Union, a division of Merrimack Valley Credit Union, 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 another account or line of credit, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
What are the standard overdraft practices that come with my account?
We 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 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 MVCU or BCU pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee each time we pay an overdraft. Please see our Schedule of Fees for the current overdraft fee.
- There is a limit of 6 (six) fees per day that we can charge you for overdrawing your account.
View & Print:
Discretionary Overdraft Privilege Policy
What you need to know about Overdrafts and Overdraft Fees
