The best way to protect yourself from overdrawing your checking account is good account management.
What if you still make a mistake? It can happen to the best of us. One Credit Union has options to save you from the embarrassment, inconvenience, and sometimes hefty fees from a declined transaction.
There are 3 ways to manage overdrafts:
- Good account management - free
- Link to a Savings Account - $2 per transfer
- Overdraft Privilege - $28 per overdraft
Learn more about each in the tabs above.
Good Account Management
There are many services One Credit Union provides to make managing your checking account easier.
- Set up direct deposit to get your money into the account reliably fast.
- Use Online Banking & Bill Pay to automate your routine bills to insure you don’t forget - or worse, be late and incur penalty fees.
- Set alerts on your account to let you know when balances run low, or deposits come in. This safety net gives you the heads up to take action before the account bounces.
- Select an Overdraft Plan in case you make a mistake to avoid embarrassment.
Be smart about managing your checking account!
- Smart Banking Practices for Managing Your Money (video – 3 mins)
- Everything You Need to Know About Budgeting (article – 10 min)
- Creating a Budget (and sticking to it) (online course – 15 mins)
- Checkbook Balancer Calculator
Link to Savings Account
If an item is presented and insufficient funds are available, we can look to a linked account to cover the item. If funds are available, we will automatically transfer the shortfall amount from the other account to your checking account to pay the item as presented. The fee is $2 per transfer.
To link an account
Please send us a secure email or call to tell us how you want it set up.
Overdraft Privilege is a discretionary service where One CU will cover your overdrafts (and fees) up to your Overdraft Privilege limit.
Whether it is a check, ACH, Recurring Debit Card Payment (e.g. your gym membership) or an Online Bill Pay item, we will get it paid. You can also cover your everyday Debit Card and ATM overdrafts, but you must "opt-in" for this extended coverage:
- Submit this Opt In Form.
- Call us (800) 578-5024
Even if you choose to have overdraft coverage by linking to a savings account, you may want to consider Overdraft Privilege if there is a chance the balance in the linked account will be insufficient. There is no charge to have the secondary coverage if it is not used.
Still have questions?
Call us at (800) 578-5024 or use Live Chat.
Overdrawn balances must be repaid within 35 days or your Overdraft Privilege limit may be lowered or removed altogether. One Credit Union offers Overdraft Privilege at its discretion and does not have an obligation to pay your overdrafts. We may withdraw or reduce the amount of this privilege at any time if you do not keep your account in good standing by bringing your account to a positive balance within the 35 day period (and keep it positive for at least one business day). We may also withdraw this service if you default on any loan or other obligation to One CU, or if your account becomes subject to any legal or administrative order or levy.