You Forget to Opt-In for Overdraft Privilege?
Why opt in?
Overdraft Privilege is a valued added service that
protects your checking account when you don’t have
enough funds to cover a transaction. It saves you the
costs, hassles and embarrassment of bounced checks! So,
even if you never use it, you have peace of mind knowing
you’re covered just in case you ever do need it.
What is an Overdraft?
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: We have standard overdraft practices that
come with your account.
We also offer
overdraft protection plans, such as a link to your
savings account, which may be less expensive than our
standard overdraft practices. To learn more, ask us
about these plans. This notice explains our standard
What are the standard
overdraft practices that come with my account?
We will authorize and pay overdrafts for
the following types of transactions:
• Checks and ACH
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 (see below):
• ATM transactions
• Everyday debit card transactions
We pay overdrafts at our
discretion, which means we do not guarantee that
we will always authorize and pay any type of
If we do not
authorize and pay an overdraft, your transaction will be
What fees will I be
charged if JetStream Federal Credit Union pays my
Under our standard
• We will charge you a fee of $30 each time we pay an
• There is no limit on the total fees we can
charge you for overdrawing your account.
What if I want
JetStream Federal Credit Union to authorize and pay
overdrafts on my ATM and everyday debit card
If you want us to
authorize and pay overdrafts on ATM and everyday debit
complete our online form or
form and present it to any branch employee or
mail it to:
P.O. Box 5487
Miami Lakes, FL 33014
ATTN: Member Services
Click here for the online form
If you choose not to
Opt-In, ATM and everyday debit card transactions for
which sufficient funds are not in your account will be
declined. This does not affect checks drawn on your
account, automatic bill payments or ACH debits.
Questions? Just give us a call at (305) 821-7060, and
speak with a Member Service Representative.