What You Need to Know about Overdraft 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.


What are the different ways an overdraft can be covered?

We can cover your overdrafts in two different ways:


1)
We have standard overdraft practices that come with your account.

2) We also offer overdraft protection plans, such as a link to a savings account or line of credit,
which may be less expensive than our standard overdraft practices. To learn more, ask us about
these plans.

  • Automatic Overdraft Transfers from deposit accounts and personal credit lines (excluding
    home equity loans). Funds are transferred in $100 increments from these accounts to
    cover overdraft transactions. We will charge you a fee of $5 (plus sales tax) for each transfer.


This notice explains our standard overdraft practices.


What are the standard overdraft practices that come with my account?

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

  • Checks and other transactions made using your checking account number
  • Automatic bill payments


We will not authorize and pay overdrafts for the following types of transactions unless you ask us to:

  • ATM transactions
  • Everyday debit card transactions


We pay overdrafts at our discretion; 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.


What fees will I be charged if the UICCU pays my overdraft?

Under our standard overdraft practices: 

  • We will charge you a fee of $29 - $34 (plus sales tax) based on number of occurrences
  • There is no limit on the total fees we can charge you for overdrawing your account


What if I want the UICCU to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 800-397-3790, visit www.uiccu.org or complete the form below, sign and mail to UICCU, P.O. Box 800, North Liberty, IA 52317 or drop off at any branch location. 

You may revoke your authorization at any time to pay overdrafts on ATM and everyday debit card transactions by calling (800) 397-3790, visiting www.uiccu.org, or completing this form and dropping it off at any UICCU branch or mailing it to:

UICCU
P.O. Box 800
North Liberty, IA 52317

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