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Longview (903) 753-5588 + Tyler (903) 597-4321

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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. If funds are available in your regular savings we will transfer funds needed to clear the item, plus an overdraft transfer fee. See fee schedule.
  2. If funds are not available in your regular savings we may authorize an pay according to our standard courtesy pay policy.

Our standard courtesy pay policy

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

  • Checks and other transactions made using your checking account number
  • ACH (Automated Clearing House) transactions
  • Automatic bill payments

We do not authorize the following types of transactions for overdraft:

  • ATM transactions
  • Debit card transactions

We pay overdrafts at our discreation, 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 be charged if Telco Plus Credit Union pays my overdraft?

Under our standard overdraft policy:

  • We will charge you a fee of $30.00 each time we pay an overdraft
  • There is no limit on the total fees we can charge you for overdrawing your account
  • You must bring your balance to a non-negative status within 30 days of the first transaction that draws your account negative.
  • Accounts negative 30 days or longer will no longer be eligible for the courtesy pay program.

What if I want Telco Plus Credit Union to pay overdrafts on my ATM and everyday debit card transactions?

If you want us to pay overdrafts on ATM and everyday debit card transactions, call (903) 753-5588, or (903) 597-4321 or (800) 492-7283, visit www.telcoplus.org, or complete the form below and present it at a branch office or mail it to: Telco Plus Credit Union, P.O. Box 3099, Longview TX 75606-3099