Debit Card Overdraft Opt-In or Change

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Click Here before submitting this application for an explanation of Debit Card Overdraft Opt-In.

*Member Number:
*Name (First M. Last)
*Street Address
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Overdraft Selection

By choosing I DO, you want Allegacy Federal Credit Union to authorize and pay overdrafts on your everyday Debit Card transactions. By choosing I DO NOT, you don't want Allegacy Federal Credit Union to authorize and pay overdrafts on your everyday Debit Card transactions. This change does not apply to business checking accounts.

Enter the complete Account Number from the Account Access screen.

Account No: I DO I DO NOT
Account No: I DO I DO NOT
Account No: I DO I DO NOT
Account No: I DO I DO NOT
Account No: I DO I DO NOT

What you need to know about overdrafts and overdraft fees.

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 overdrafts in four different ways:

  1. We have Standard Overdraft Protection (SOP) that comes with specific checking accounts (SmartRate Checking and Allegacy Preferred Checking).
  2. We provide Linked Account Transfers that are included at no additional cost with your checking account. To learn more, see the accompanying disclosure or ask us about this feature.
  3. We offer Checking Line of Credit, which requires credit approval and may be less expensive than our fee-based overdraft program, Standard and Enhanced Overdraft Protection. To learn more, ask us about this plan.
  4. We offer Enhanced Overdraft Protection (EOP). You cannot enroll in EOP without enrolling with SOP. This form and the accompanying disclosure explain our Enhanced Overdraft Protection (EOP)

How does Standard Overdraft Protection (SOP) and Enhanced Overdraft Protection (EOP) work?

We do authorize and pay overdraft for the following types of transactions unless opted-out:

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined, and associated returned item fees and additional merchant fees may apply.

What fees will I be charged if Allegacy Federal Credit Union pays my overdraft under SOP and/or EOP?

  1. A fee of $29 is charged each time we pay an overdraft.
  2. SOP and EOP have a $100 limit for the first 60 days, increasing to $700 if qualified. This limit includes fees and other overdrawing.
  3. If you have 180 Overdraft Transaction within a calendar year, your overdraft services will be suspended for a minimum of six (6) months, pending re-qualification.

For more information, please click here

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