Courtesy Pay Overdraft Protection
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 several different ways:
- We have standard overdraft practices that come with your account.
- Overdraft Protection, Loanmaker Line of Credit or Home Equity Line of Credit
- We also offer protection plans such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for checks and other transactions made using your checking account number and automatic bill payments. We do not authorize and pay overdrafts for ATM transactions or everyday debit card transactions unless you ask us to.
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.
Johns Hopkins Federal Credit Union reserves the right to revoke Courtesy Overdraft privileges at any time without prior notification and to deny the payment of any transactions. Accounts not in good standing for more than 15 days will result in the restriction of the Courtesy Overdraft services. Misuse of the Courtesy Overdraft service and/or your account remaining overdrawn beyond 30 days will result in the termination of the Courtesy Overdraft service.
What if I want my financial institution to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you would like us to authorize and pay overdrafts on ATM and everyday debit card transactions, complete and mail or drop off a consent form at any JHFCU branch location.
Opt-In Consent Form (PDF)
What fees will I be charged if Johns Hopkins FCU pays my overdraft?
We will charge you a fee of $29 each time we pay an overdraft. This is our standard Courtesy Overdraft Fee (the same as our Non-Sufficient Funds Fee and our Stop Payment Fee), and is subject to change.
Share Draft Protection
We also offer several ways to protect our members, should you write a check and not have sufficient funds available in your account to cover it. Members can establish a
Other options include:
- Opting in to our overdraft service, Courtesy Pay (above), for ATM withdrawals and debit card transactions.
- Or, as a courtesy, we will look to your Share Savings to see if there are sufficient funds there to cover your check(s). If so, an automatic transfer is made from your savings to cover the check(s). There is a nominal fee per transfer for this service.