Overdraft Protection
Overdraft protection adds a backup to your checking account by automatically transferring available funds from linked savings when an eligible transaction exceeds your balance.
Why Enroll in Overdraft Protection?
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Automatic Transfers
Available funds move from linked savings to checking when an eligible transaction exceeds your checking balance.
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Up to Six Transfers
Make up to six overdraft transfers each month, provided sufficient savings funds are available.
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Lower Transfer Fee
The overdraft transfer fee is lower than the non-sufficient funds (NSF) fee.
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Easy Setup
Visit a branch or enroll online to link your savings and checking accounts.
Avoid Unnecessary Disruptions
Unexpected expenses and scheduled payments can leave your checking account short. When sufficient funds are available in linked savings, overdraft protection may cover eligible:
- Debit card purchases
- Automatic bill payments
- Checks and electronic payments
That added backup can keep everyday spending on track, from grocery runs in Little Rock to fuel stops and scheduled bills across Arkansas.
How Does Overdraft Protection Work?
With overdraft protection, your linked savings account serves as a backup for checking. If an eligible transaction exceeds your checking balance, Telcoe FCU transfers the amount needed from savings, as long as sufficient funds are available.
- Your checking and savings accounts must be linked.
- Sufficient savings funds must be available.
- Up to six overdraft transfers are allowed each month.
Enrolling in Overdraft Protection is Easy!
STEP1
Choose an Account
Pick the best Telcoe FCU checking account for your needs and budget.
STEP2
Sign Up
Opt-in to our Overdraft Transfer Program to cover NSF transactions on your account.
STEP3
Spend Safely
Use your checking account with confidence, knowing that we’ve got you covered!
Ways to Avoid Overdraft Fees
Overdraft protection is a backup, not a substitute for regular account monitoring. Telcoe FCU’s digital tools make it easier to stay current on balances and transactions. Set balance alerts in Digital Banking for low balances and larger transactions.
Check your available balance anytime in the Telcoe FCU Mobile Banking App. Record scheduled payments and withdrawals, including card purchases, ATM withdrawals, checks, and transfers.
★★★★★
I’ve been banking with Telcoe for 21 years. I’ve always had
pleasant experiences. They have
always been professional
and always willing to help.
– Petra L., Little Rock, AR
Overdraft Protection FAQs
What is overdraft protection?
An overdraft service automatically transfers funds from your linked savings account to your checking account when you have insufficient funds in your checking account to cover a transaction.
How does overdraft protection work?
If your checking account balance is insufficient, an overdraft protection transfer will move money from your savings account to ensure a positive balance to cover the transaction, as long as there are enough funds available in your savings account.
How much does overdraft protection cost?
The fee for an overdraft transfer to post to your account is lower than a non-sufficient funds (NSF) fee, making it a more affordable way to avoid overdraft charges. Check our fee schedule for the transfer fee.
How many overdraft transfers can I make each month?
Telcoe Federal Credit Union allows you to make up to six overdraft transfers per month from your linked savings account to your checking account.
How do I set up overdraft protection?
Overdraft protection can be set up by linking your checking account to a savings account. Contact a Telcoe FCU branch to enable this feature with a quick signature.
Can I monitor my accounts to prevent overdrafts?
Yes! You can set alerts in online banking, use the mobile app to check the money in your account and track all your transactions using a check register.
Will all my transactions be covered by overdraft protection?
Overdraft protection applies to checks and electronic payments, provided your linked savings account has sufficient funds to cover the transaction.
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