Payment of Overdrafts
Important notice about PAYMENT OF OVERDRAFTS
What is HFS FCU's policy on the payment of overdrafts?
If, on any day, the available funds in your share or deposit account are not sufficient to pay the full amount of a check, draft, or electronic item posted to your account plus any applicable insufficient funds fee, we may pay or return the overdraft.
How does HFS FCU determine that my account has an insufficient balance?
The Credit Union's determination of an insufficient available account balance may be made at any time between presentation and the Credit Union's midnight deadline with only one review of the account required. We do not have to notify you if your account does not have sufficient available funds to pay an overdraft.
Is there a fee for overdrafts?
The current NSF fee of $20 is charged to your account for each NSF transaction returned and an overdraft fee of $20 is charged to your account for each NSF transaction paid. Your account may be subject to a charge for each overdraft regardless of whether we pay or return the overdraft.
Except as otherwise agreed in writing, if we exercise our right to use our discretion to pay an overdraft, we do not agree to pay overdrafts in the future and may discontinue covering overdrafts at any time without notice.
If we pay an overdraft or impose a fee that overdraws your account, you agree to pay the overdrawn amount in accordance with your overdraft protection plan, or, if you do not have such a plan, in accordance with our overdraft policy.
Are my checks processed and paid in numbered order?
Checks, drafts, other electronic items or other transactions may not be processed in the order that you make them or in the order that we receive them. We may, at our discretion, pay a check, draft or other electronic items or execute other transactions on your account in any order we choose.
Does the payment order have an affect on my account?
The order in which we process checks, drafts and other electronic items or execute other transactions on your account may affect the total amount of overdraft fees that may be charged to your account.
If you have any questions about payments of overdrafts, please call (808) 930-1400 or toll free (800) 216-2666.
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This Credit Union is federally insured
by the National Credit Union Administration
