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What You Need To Know

What You Need To Know

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 two different ways:

  1. We have standard overdraft practices that come with your account.
  2. We also offer overdraft protection plans, such as a link to another account or a line of credit, which may be less costly than our standard overdraft practices. To learn more, ask us about these plans.
This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments
We will not authorize and pay overdrafts for the following types of transactions without your consent:
  • ATM transactions
  • Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Texas Trust Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30 each time we pay an overdraft
  • There is no limit per day on the total fees we can charge you for overdrawing your account

What if I want Texas Trust Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call (972) 263-5171 or visit our website at TexasTrustCU.org and log in to online banking. You can revoke your authorization for Texas Trust Credit Union to pay these overdrafts at any time by any of the above methods.

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 two different ways:

  1. We have standard overdraft practices that come with your account.
  2. We also offer overdraft protection plans, such as a link to another account or a line of credit, which may be less costly than our standard overdraft practices. To learn more, ask us about these plans.
This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments
We will not authorize and pay overdrafts for the following types of transactions without your consent:
  • ATM transactions
  • Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Texas Trust Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30 each time we pay an overdraft
  • There is no limit per day on the total fees we can charge you for overdrawing your account

What if I want Texas Trust Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call (972) 263-5171 or visit our website at TexasTrustCU.org and log in to online banking. You can revoke your authorization for Texas Trust Credit Union to pay these overdrafts at any time by any of the above methods.

Overdraft Coverage Options

Service Cost
Overdraft Protection Link to Another Deposit Account you have at Texas Trust Credit Union1 $5 fee per transfer
Overdraft Protection Link to a Cash Advance on your Texas Trust Credit Union credit card1,2,3 Subject to a $5 fee + interest
Overdraft Protection Line of Credit1,2,3 Subject to a $5 fee + interest
Overdraft Privilege $30 Overdraft Fee per item
1To sign up or apply for these services contact us by email, Home Banking Message Center, visiting your local Branch or call us at 972.263.5171; 2Subject to credit approval; 3Annual Percentage Rate (subject to 12 C.F.R. 1026.16(strong)).

Overdraft Protection services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account, cash advance, or line of credit you may have at Texas Trust Credit Union for a fee or finance charge. Please note that cash advances and overdraft lines of credit are subject to credit approval.

Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Even if you have overdraft protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. After your eligible account has been opened for 30-days in good standing, this privilege will generally be limited to a maximum of $500 overdraft (negative) balance. Accounts with a direct deposit of $500 or greater within the last 30 days will receive $1,000 overdraft (negative) balance.

Transactions Covered with Overdraft Privilege Standard Overdraft Privilege
(No action required)
Extended Overdraft Privilege
(Your consent required)1
Checks
ACH - Automatic Debits
2Recurring Debit Card Payments
Online Bill Pay Items
Teller Window Transactions
ATM Transactions 1
Everyday Debit Card Transactions 1

If you would like to change your Coverage for future transactions:

  • Email
  • Contact us through the Home Banking Message Center
  • Visit a branch
  • Complete the enclosed form and mail it to us at P.O. Box 2260, Mansfield TX 76063- 0047
  • Call us at 972-263-5171

1If you choose Extended Coverage, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage.
2Recurring debit transactions will be paid regardless of Overdraft Privilege Opt In decision.

You can discontinue the Overdraft Privilege in its entirety by email, Home Banking Message Center, visiting your local Branch or call us at 972.263.5171. If you already have Extended Overdraft Privilege coverage, it is not necessary to request it again.


IMPORTANT INFORMATION

  • A link to another account or a line of credit is a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our mobile banking, Internet banking, and telephone banking services to keep track of your balance.
  • The $30 Overdraft Fee is the same fee amount that is charged if a check is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft Fee or a Return Fee of $30. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn in excess of the Overdraft Privilege limit amount as a result of a fee.
  • We generally post items in the following order: ATM and Debit Card transactions post throughout the day, as they are received (online, real-time); ACH items post in the morning, in the order presented; checks post late afternoon in the order in which they are presented; however, exceptions will occur. Holds on funds (described below) and the order in which transactions are posted may impact the total amount of Overdraft Fees or Returned Item Fees assessed.
    • Texas Trust Credit Union authorizes and pays transactions using the available balance in your account. The available balance is comprised of the ledger balance (collected funds) less any debit card holds, and does not include any deposited funds on hold. Texas Trust Credit Union may place a hold on deposited funds in accordance with our Account Agreement. If the funds in the available balance are not sufficient to cover a transaction, any available overdraft protection and/or the amount of the Overdraft Privilege limit, may be used to authorize and pay a transaction.
    • Texas Trust Credit Union will place a three day hold on your account for any authorized debit card transaction until the transaction settles (usually within three business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction or released before the transaction settles. When the hold is released the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Overdraft Fee may be assessed.
  • Although under payment system rules, Texas Trust Credit Union may be obligated to pay some unauthorized debit card transactions, Texas Trust Credit Union will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions and any fee(s).
  • Texas Trust Credit Union authorizes and pays transactions using the available balance in your account. The available balance is comprised of the ledger balance (collected funds) less any debit card holds, and does not include any deposited funds on hold. Texas Trust Credit Union may place a hold on deposited funds in accordance with our Deposit Account Agreement and Disclosure. If the funds in the available balance are not sufficient to cover a transaction, any available overdraft protection and/or the amount of the Overdraft Privilege limit, may be used to authorize and pay a transaction.
  • Texas Trust Credit Union will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within three calendar days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Overdraft Fee may be assessed.
  • A three day hold is placed on all debit card authorizations. Once the merchant processes the actual charge, the authorization amount is released. Please note merchants do not always process transactions within three days. Everyday debit card authorization holds will still be released after three days. In which case, you are responsible for accounting for those unprocessed everyday debit card purchases in your available balance.
  • Except as described in this letter, Texas Trust Credit Union will not pay items if your account does not contain available funds (including the Overdraft Privilege limit) to cover the item(s) and the amount of any fee(s).
  • Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
  • Overdraft Privilege may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within thirty (30) days for a minimum of one business day.
  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account and Disclosure Agreement. The total (negative) balance, including all fees and charges, is due and payable upon demand.

If you have any questions about Overdraft Protection or Overdraft Privilege, please contact by email, Home Banking Message Center, visiting your local Branch or call us at 972.263.5171. You can also visit us at ODP FAQs.



Serving Dallas, Denton, Ellis, Henderson, Johnson, Tarrant, and Tom Green Counties with branches in Arlington, Athens, Bedford, Cedar Hill, Flower Mound, Grand Prairie, Hurst, Irving, Mansfield, Midlothian, and San Angelo

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