We’ve all been there, or know someone who has - the embarrassment of having your debit card declined at the register. Connex offers a variety of overdraft protection products and services designed to cover you when your checking account doesn’t have enough funds – just in case.
An overdraft occurs when there are not enough funds in your account to cover a transaction. We may pay it anyway as a service to our members. Certain fees may apply depending on the form of protection on your account.
We may authorize and pay overdrafts for checks and other transactions made using your checking account number and automatic bill payments.
We DO NOT authorize and pay overdrafts for ATM and everyday debit card transactions unless you ask us to. If you ask us to pay overdrafts for ATM and everyday debit card transactions by opting in to Courtesy Pay, our discretionary overdraft service, we will charge you a $35 fee each time we pay an overdraft. We pay overdrafts at our discretion, which means we do not guarantee we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.
Transfers from Regular Share Account
With this option, we simply transfer the overdraft balance from your Regular Share Savings. You get peace of mind and a much smaller fee than what a returned check would cost. (Federal Regulation D requires all financial institutions to monitor and limit telephone transfers, online banking transfers, automatic transfers including overdraft protection, pre-authorized transfers, ACH withdrawals, and wire transfers from a share savings account to a maximum of six (6) per month.)
When you’re approved* for an overdraft line of credit, your checking account transactions will be covered up to your credit limit, so you can avoid non-sufficient fund (NSF) fees. Personal credit lines are available up to $5,000. You only pay interest on the amount of credit you use and a small fee that is much less than the cost of a returned check.
*Subject to credit review