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Overdraft Protection

Overdraft protection allows you to complete transactions with confidence, even if your balance is lower than you expected.

Choosing Overdraft Protection with Altura

Make Sure Every Transaction Completes

Sometimes your checking account is a little lower than expected. Maybe you had an unexpected expense come up or it’s been a slow month at work. But, even during these tough situations, you still have expenses. 

That’s why Altura Credit Union offers overdraft protection to all our members. With this service, you have a safety cushion even if your account balance is a little lower than normal. The features of this service include: 

  • Link to Savings: The ability to link your savings account to your checking account. This way, your savings balance can be your backup in case you need to make a big purchase and want to avoid an overdraft.
  • Link to Altura Credit Card: The option to link your Altura Credit Card to your checking account. You can use your credit line as a backup to avoid an overdraft.
  • Link to Savings AND Credit Card: You can link to both your savings and credit card to give you two lines of defense against overdraft fees. Overdraft first draws from your savings account and then your credit line, so you never have to deal with an overdraft.
  • No Payment Denials: Stop worrying that your ATM or point-of-sale transactions won’t be approved. With overdraft protection from Altura, you can swipe your card with confidence!
  • No NSF Fees: Overdraft protection lets you avoid non-sufficient funds or courtesy pay fees.
  • E-Alerts: When you enroll in online banking, your account goes on autopilot. E-Alerts will send you text messages and emails when an overdraft protection transfer is made to your account. You can also set low balance alerts to help you avoid overdrafts.

 

How to Get Started

When you use overdraft protection, you can feel confident in all your transactions. To sign up today, contact Altura Credit Union at 1-888-883-7228. You can also visit your local Altura branch to find out more about this amazing service.

FAQs

How Do I Avoid Overdraft Fees?

The easiest and most effective way to avoid overdraft fees is to monitor your account. Keep track of your balance and sign up for e-alerts. Budgeting your money will also help you avoid making purchases you can’t afford. By using overdraft protection, you will always have a backup if there isn’t enough in your account to cover a transaction.

Will an Overdraft Hurt My Credit?

Overdrawing your account will not immediately impact your credit. But if you are not able to pay that overdraft, your credit score could be in danger. Eventually, the bank will want to close your overdrawn account and collect what you owe. At this point, your bank will report the overdrawn account to a credit reporting agency. Once the credit reporting agency has this information, it will negatively affect your credit score.

What Happens if I Overdraw My Account and Don’t Pay?

If you overdraw your account and cannot pay, the bank will end up closing your account for good. But the bank is still short the money you owe. They will go to a collection agency to make up for your overdraft.

Disclaimer Information

There is a fee for overdraft protection. When linked to a credit card, interest on your balance will accrue at your standard interest rate. If a balance is not available in either your savings account or your credit line, the overdraft protection ...

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There is a fee for overdraft protection. When linked to a credit card, interest on your balance will accrue at your standard interest rate. If a balance is not available in either your savings account or your credit line, the overdraft protection will not occur and your purchase may be denied. See the Schedule of Fees for details.

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