On occasion, circumstances occur that can cause you to overdraw your account. Overdrafts occur when the amount of a check or electronic transaction (e.g., ACH) exceeds your Available Balance at the time it is presented to the credit union for payment, or when a Visa Debit Card transaction exceeds your Available Balance at the time of your purchase and at the time your transaction is posted to your account. Your Available Balance reflects any deposit holds or Visa Debit Card holds for previous purchases that have been authorized but not yet presented for payment; therefore, your Available Balance may be less than your Account Balance.
At Metro, you can select from one of several options to determine how those overdrafts will be treated. The information below may assist you in understanding overdrafts and your overdraft coverage choices.
Overdraft Protection/Back-up Account
If your checking account does not have sufficient funds to cover a transfer, purchase, or withdrawal, you can elect to automatically transfer funds from another account to prevent your checking account from becoming overdrawn. You may also choose to apply for an Overdraft Line-of-Credit that is linked to your checking account. There is an automatic transfer fee* for transfers automatically made from savings, checking or money market accounts. You can avoid this fee by transferring or advancing funds prior to the transaction that causes an overdraft/negative balance.
Lines of Credit, Home Equity Lines of Credit, Savings Accounts, Money Market Accounts and secondary checking accounts can all be linked to your checking account to prevent overdrafts. Generally, Metro will advance funds from deposit accounts prior to advancing funds on a line of credit/HELOC.
Note: Money Market accounts are subject to monthly withdrawal limitations and fees may apply if the number of transfers exceeds those limits.
*For a complete list of fees, click here
Courtesy Pay Service
Courtesy Pay adds a measure of protection to your checking account. It can temporarily cover purchases and payments when sufficient funds are not available in your account. Courtesy Pay is not a loan and your checking account must be brought to a positive balance within 35 days.
Courtesy Pay can be used to pay checks, ACHs, and BillPay transactions. You must affirmatively choose (Opt In) to have Courtesy Pay cover every day Debit Card transactions. Courtesy Pay will not cover ATM withdrawals, in-person transactions, or online banking transfers.
Metro will charge a fee if we pay an overdraft in the following circumstances.
- We will charge you a fee of up to $33.00 each time we pay an overdraft, if the transaction we pay exceeds $5.00 and the account is overdrawn by more than $50 (available balance is negative by more than $50) after payment of the overdraft. (Due to system limitations, in some cases where the transaction is $5.00 or less or the account is overdrawn by less than $50, the fee may be assessed and then reversed.)
- We will charge you no more than four (4) overdraft fees per day.
- Note: Returned items may incur a fee if presented a subsequent time and paid using Courtesy Pay if the charge is more than $5 and the available balance is below $50 negative.
Our Overdraft Services Disclosure is available here.
How to Set-Up, Change or Cancel Your Overdraft/Courtesy Pay Selection
You can remove Courtesy Pay coverage from your account, or from every day VISA Debit Card purchases, any time by going to your account online or by calling our office at 402.551.3052.
Avoid Overdrafts/Tips on Budgeting
- Check your available balance regularly. It is available on our Mobile App, in Online Banking, at any Metro Credit Union ATM, and over the telephone via ARTIE.
- Keep track of automatic payments such as utilities, car insurance or loan payments.
- Review your statement.
- Do not rely on check clearing time. In today’s banking environment, many transactions clear in less than 24 hours, and some clear the same day they are initiated.
- Set up account alerts online or through the mobile application to receive updates about any of your Metro accounts.
External Resources
Frequently Asked Questions