An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. Overdrafts apply to checks, debit cards or other transactions that are paid when the available balance in your deposit account is less than the amount of the transaction, which creates a negative balance in your account. 

Yes. An "NSF item" (also called a "bounced check") occurs when an item (such as a check or other transaction presented for payment) is returned unpaid because the available balance in your account is less than the amount of the item.

Don’t overdraw it.

We recommend that you:

Keep track of how much money you have in your checking account; a great way to do this is by monitoring your account balances with free personal online banking.  Remember that some checks and automatic payments may not have cleared yet.

Pay special attention to your electronic transactions

Don’t forget about automatic bill payments you may have set up for utilities, insurance, or loan payments.

Overdraft Privilege is a discretionary service provided to eligible accounts. It is designed to help guard members against having items returned or declined.Overdraft Privilege is not a line of credit.

Eligible accounts have been opened for at least thirty (30) days and thereafter must be maintained in good standing, which includes:

Continuing to make deposits consistent with your past practices, and depositing at least $400 in your account within each thirty (30) day period

You are not in default on any loan obligation to us

Your account is not the subject of any legal or administrative order or levy, such as bankruptcy or a tax lien

Yes. We always encourage our customers to have a savings or money market account at Finance Seva. If you sign up for Account Linked Overdraft Protection, you can link an eligible account to your checking account. If presented items would cause your checking account to become overdrawn, we will automatically make a transfer from your linked account.  Keep in mind, there is a transfer fee every time you use this service, but you will not be assessed an overdraft fee.

Overdraft Privilege is available on most checking accounts. It is not available on savings account or any account owned by a minor.