We understand that life is unpredictable, and sometimes, that means things don’t always go as planned – like an unexpected overdraft to your account. Whether it’s a forgotten payment or an unexpected expense, we’re here to help you navigate those moments.
Reduced Insufficient Funds Fee
We've reduced our fee* to $25 to help you navigate those moments. It's just one way we're here for you.
What is an Overdraft?
An overdraft occurs when you spend more than what’s available in your checking account but we pay it anyway. If we do not pay the transaction it will be declined or returned as unpaid and you may incur an insufficient funds fee.
It could happen when you:
Write a check for good or services
Make a purchase with your debit card
Have automatic payments or subscriptions debited from your account
Withdraw funds at an ATM
How Mid-Hudson Valley Federal Credit Union Helps You Manage Overdrafts
Life happens, and sometimes it’s unavoidable. But with the right tools and options, you can manage unexpected overdrafts without stress. Here’s how we can help:
Overdraft Protection Options:
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Overdraft Transfers
If you don’t have enough funds in your checking account to cover a purchase, enroll in this option and we’ll automatically pull available funds from your Savings or advance your Line of Credit** to cover it without a transfer fee. Just ask us to connect your accounts. -
No Bounce Courtesy Pay
No Bounce covers checks, automatic payments and recurring debit card transactions when your account balance is insufficient, up to your individual limit, for an insufficient funds fee* on transactions of $5 or more. You can also opt-in to include ATM withdrawals and everyday (one-time) debit card transactions - ask for details.
How Can You Protect Yourself?
We want to make it easy for you to avoid overdrafts altogether.
Here are some simple ways to protect your account:
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Monitor Your Account Regularly
Monitor your balance through Digital Banking or Text Banking. It’s easier to avoid overspending when you know where your balance stands. -
Keep a Cushion
Maintaining a small buffer in your account can prevent accidental overdrafts, especially during months with unpredictable expenses.
Take Control of Your Finances Today
Life can be unpredictable, but managing your finances doesn’t have to be. With our overdraft protection options, you can have peace of mind knowing that we’re here to help you stay on track, no matter what life throws your way.
Commonly Asked Questions About Overdraft
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You must be 21+, have an account open for 30 days, and show regular deposit activity. Coverage ranges from $250 to $2,500 based on deposit activity.
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Yes! Give us a call or visit a branch to complete the No Bounce Opt-Out Form.
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To avoid further fees or account issues, deposit enough funds to bring your account above $0 as soon as possible. You typically need to keep the account positive for at least 24 hours.
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your account remains negative for an extended period, it could be locked after 30 days or closed after 45 days. It's important to resolve the negative balance quickly to avoid account restrictions.
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Give us a call or visit your nearest branch to update your accounts.
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You can avoid insufficient funds fees by keeping track of your balance and linking a savings account or line of credit to your checking account for overdraft protection.
*Refer to Fee Schedule
**Interest applies to advanced balance.