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Unforeseen circumstances happen to us all and usually at just the wrong time! Your car breaks down on Wednesday and you don’t get paid until Friday. You make an honest mistake in your checkbook and it leaves you a “little short” to cover all your outstanding checks. Members Exchange has an overdraft protection plan to fit your needs……..Overdraft Protection using Members Exchange Savings Account or Line of Credit.

Understanding Your Account Balance for Overdrafts – Your checking account has two kinds of balances: the “actual” balance and the “available” balance.  We use your available balance when determining whether a transaction will cause your account to overdraw and for charging overdraft fees.  You can review both balances when you review your account online, through mobile banking, by phone or at a branch.

Click HERE to learn more about OOPS!™ and how transactions are posted to your account. 

Your Available Balance – Your available balance is the amount of money in your account that is available to you without incurring an overdraft fee.  Your available balance takes into account holds have may have been placed on deposits and pending transactions (such as pending debit card transactions) that we have authorized but that have not yet posted to your account.

Click HERE to learn more about “available” balance and “actual” balance.

What is a Debit Card Authorization Hold?  When you use your debit card to conduct a Signature or “credit” transaction (i.e. you do not enter your PIN), the merchant send us the amount for authorization.  This amount is on hold and removed from your available balance immediately.  The hold is released after approximately 72 hours or when the transaction clears, whichever comes first.  The hold helps determine the available balance on your account.

Click HERE for Frequently Asked Questions. 

Overdraft Protection using a Members Exchange 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 applies to checks, ATM and Check Card Transactions, and automatic payments. Does not apply to online banking transactions, Bill Pay or audio response payment/transactions.

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 out in our Fee Schedule.

*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 $35) 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 or to sign up for Savings or Line of Credit Overdraft Protection, please visit your nearest branch or call us at (601)-922-3350 or 1-800-748-9459.

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