Overdraft Coverage Options
Instep Credit Union understands that unexpected overdrafts occur from time to time- Overdraft Coverage can help.
The choice is yours. Consider these ways to cover overdrafts:
| Service | Cost |
|---|---|
| Overdraft Protection Link to your Instep Credit Union1 Savings Account | No fee |
| Overdraft Privilege Standard or Extended Coverage | $35 Overdraft Fee per item presented* |
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1Call us at (504) 394-5574, email us at askus@instepmembers.com, or come by a branch to sign up for these services. *Per item presented means each time an item is resented, including representment. |
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Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account you may have at Instep Credit at no charge. Please note that overdraft lines of credit are subject to credit approval.
Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Even if you have Overdraft Protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Please review the “
” section for other important information.| Transactions Covered with Overdraft Privilege | Standard Coverage (No Action Required) | Extended Coverage (Your consent required on consumer accounts)* |
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| Checks | ||
| ACH - Automatic Debits | ||
| Recurring Debit Card Transactions | ||
| Online Bill Pay Items | ||
| Teller Window Transactions | ||
| ATM Withdrawls | * | |
| Everyday Debit Card Transactions | * | |
If you would like to select Extended Coverage for future transactions:
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*If you choose Extended Coverage on your consumer account, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Overdraft Privilege Extended Coverage, it is not necessary to request it again. Business accounts automatically have Extended Coverage. You can discontinue Overdraft Privilege in its entirety by contacting us at (504) 394-5574 or sending us an e-mail at askus@instepmembers.com. |
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Request Extended Coverage Today