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Overdraft Protection using a MECU Savings or Line of Credit
If you have ever overdrawn your checking account, you've experienced the embarrassment, inconvenience and expense of bounced checks. You can protect yourself and your credit record by establishing Overdraft Protection on your checking account.
• You can designate a Savings or a Line of Credit. Then, if you overdraw your checking account, the overdrawn amount will be transferred from the designated account.
• Record keeping is easy because you receive a notice whenever overdraft protection has been activated.
Overdraft Protection from a Savings or a Line of Credit is an excellent safeguard, which can preserve your good credit rating.
OOPS™* - OCCASIONAL OVERDRAFT PRIVILEGE SERVICE
Can Mean:
- You may avoid high charges from merchants for returned checks
- You may avoid the embarrassment and inconvenience of denied purchases and dishonored checks
- Payment of your occasional and inadvertent overdrafts up to your assigned OOPS! Limit of $800 will normally be considered. This limit includes our customary fees set our in our Fee Schedule. Our fees will be added to any outstanding overdrafts you may have and will be applied against your OOPS! Limit.
*Overdraft Privilege is a purely discretionary service and we are not obligated to pay any overdraft. Not all accounts are eligible and restrictions apply. For example, we typically do not pay overdrafts if your account is not in good standing or if you have too many overdrafts. See our Occasional Overdraft Privilege Service Policy. The categories or types of transactions that may overdraw your account include checks, in-person (teller) withdrawal, ATM withdrawal, or other electronic means. Our normal non-sufficient funds or overdraft charge (currently $32.00) will apply to each item overdrawing your account and we reserve the right to require you to repay your overdrafts immediately or on demand.
For more information, please visit your nearest branch or call us at (601)-922-3350 or 1-800-748-9459. |
