We know life happens, and unexpected expenses come up. We’re here to help you stay on top of your finances and avoid overdrafts and NSF (Non-Sufficient Funds) fees. Explore the topics and resources below to understand more about these fees and how to steer clear of them.
An overdraft occurs when you spend more money than you have in your account. For example, if someone has $20 in their checking account and charges $30 with their debit card for gas, their account will be overdrawn by $10.
Without some form of overdraft protection, when an account becomes overdrawn, it creates a negative balance, or an NSF (Non-Sufficient Funds) event. This means there aren’t enough funds in the account to cover the transaction.
When you assign an account to be your overdraft account, then link it to your checking account, in the event of an overdraft, the funds needed to complete the transaction are withdrawn from your overdraft account and the transaction processes.
Set a low balance alert and get notified when your balance dips below a set amount. Log in to the Mobile App, select Account Services, choose Account Alerts, select Accounts, and then Balance.
If you’re not already enrolled, consider an Instant BackUp™ Line of Credit. This provides you with a $500 credit line to cover overdrafts. Enrolling takes just a few minutes. Visit here to learn more.
Link a Patelco savings account or line of credit to provide overdraft protection for your checking account. Log in to Patelco Online™, choose Account Services, then select Overdraft Protection to choose the account you want to use for your protection.
An overdraft occurs when you don’t have enough money in your account to cover a transaction. If you have some form of overdraft protection set up, the funds to complete the transaction are drawn from your overdraft account. If your account is not protected, this creates a negative balance in your account, or an NSF (Non-Sufficient Funds) occurrence.
A Paid NSF is when an overdraft transaction is paid by Patelco. For example, if someone has $20 in their checking account, but charges $30 on their debit card, this results in a -$10 balance. The -$10 transaction amount is added to their account balance and a Paid NSF fee of $28 is charged.
Patelco will send you an email when you have a Paid NSF occurrence. If you do not have an email address on file, we will send you a letter in the mail, which consolidates any Paid NSFs you may have had that day.
Managing your finances is easier with the right tools and resources. Visit our Member Relief and Support Center for expert tips, educational resources, and personalized support to help you stay financially strong.
1 There is a $28 Paid NSF fee per NSF transaction. For more information, please see the NSF Transactions section of the Patelco Member Handbook.
