Please read the following information and complete the form below.
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 three different ways:
This notice explains our standard overdraft privilege practices.
- We have standard overdraft privilege practices that come with your account.
- We offer overdraft protection plans, such as a link to a savings account, which my be less expensive than our standard overdraft privilege practices. To learn more, ask us about these plans.
- We also offer a Draft Line of Credit (DLOC) that must have credit approval.
What are the standard overdraft privilege practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to opt in (see below):
- Checks and other transactions made using your checking account number
- Automatic bill payments
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.
- ATM transactions
- Everyday debit card transactions
If we do not authorize and pay an overdraft, your transaction will be declined.
What fees will I be charged if Maumee Valley Credit Union pays my overdraft?
Under our standard overdraft privilege practices:
- We will charge you a fee of up to $30 each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
What if I want Maumee Valley Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?
- Complete the online form below and click ‘Send Application', or
- Call our Toledo Office at (419) 382-4071 or our Perrysburg Office at (419) 872-1201 to speak to a representative.