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Occasional Overdraft Protection (OOPS)

OOPSWhat 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 your overdrafts in two different ways:

  1. We have standard overdraft practices that come with your account.
  2. Marshland also offers an Occasional Overdraft Protection Plan which links to your other Marshland accounts, which may be less expensive than our standard overdraft practices.
  3. In addition, we have an Extended Occasional Overdraft Plan To learn more, ask us about these plans.

Marshland’s Standard Overdraft practices comes with your checking account.  We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments

However, we do not authorize and pay overdrafts for the following types of transactions unless you opt in for our ) or our Extended Overdraft Protection Service (OOPS):

  • ATM Transactions
  • One Time Debit Card Transactions

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.

Marshland charges the following fees for our Standard Overdraft Services should you have an overdraft on your account:

  • We will charge you a fee of $32 each time we pay an overdraft.
  • We will not charge you a fee if your account is overdrawn by $3.00 or less on any given day and/or we will not charge you a fee if the item presented is $3.00 or less.
  • There is no limit on the total fees we can charge your account.
  • You must deposit the full amount of the overdraft (within
    32 days), including any fees assessed, and maintain a
    positive balance for at least one business day to continue
    to receive Occasional Overdraft Protection Service.

Marshland’s Occasional Overdraft Protection Service (OOPS) allows you to link other  sources you have with Marshland Credit Union to your  checking account in order to prevent overdrafts.

  •  Occasional Overdraft Protection Service allows you to  overdraw your account for a fee of $32 in order to pay a
    transaction.
  • Occasional Overdraft Protection Service limits of up to $500 are available for eligible Personal Checking
    accounts opened at least 90 days in good standing.
  • Occasional Overdraft Protection Service limits of up to $750 are available for eligible Business Checking accounts opened at least 90 days in good standing.
  • Standard Occasional Overdraft Protection Service  covers checks, online bill payments, ACH transactions,
    or automatic/pre-authorized debits that you establish (insurance premiums, utility bills, etc.).
  • You must deposit the full amount of the overdraft (within  32 days), including any fees assessed, and maintain a
    positive balance for at least one business day to continue  to receive Occasional Overdraft Protection Service.
  • Marshland will not pay for overdrafts from:
    • ATM Transactions
    • One Time Debit Card Transactions

Marshland’s Extended Overdraft Protection Service includes the transaction types listed in the Occasional Overdraft Protection , along with ATM withdrawals and everyday debit card transactions.

Like the Occasional Overdraft Protection Service, the full amount of the overdraft must be deposited (within  32 days), including any fees assessed, and maintain a  positive balance for at least one business day to continue to receive Occasional Overdraft Protection Service.

If you want us to authorize and pay overdrafts on ATM and everyday debit cards transactions:

  • Mail the form below to PO Box 1957, Brunswick, GA 31521, or
  • Call us at 912 279-2000, or
  • Visit one of our conveniently located branches.

You can revoke your authorization for Marshland Credit Union to pay these overdrafts at any time by any of the above methods.  Your revocation must include both your name and your account number so we can properly identify your account.

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____ I DO want Marshland Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions.

____ I DO NOT want Marshland Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions.

Account # ____________________ Print Name:_____________________________________

 

Signature___________________________________________ Date____________________

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