What You Need to Know about Overdraft 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 overdraft in two different ways:

1. We have standard overdraft practices (Courtesy Pay) that come with your account.
2. We offer overdraft protection plans, such as an overdraft line of credit, which may be less expensive than our standard overdraft practices.  To learn more, ask us about these plans. 

This notice explains our standard overdraft practices.

We do authorize and pay overdrafts for the following types of transactions:

• Checks and other transactions make using your checking account number
• Automatic Bill Pay Transactions
• ATM transactions**
• Everyday Debit Card transactions**

**Effective August 15, 2010, we will be unable to pay your ATM transactions and everyday debit card transactions unless you authorize us to do so. 

We do not pay overdrafts that would make your account overdrawn by more than $600.  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.

<<All entries into our Courtesy Pay Overdraft (standard overdraft practice) prior to July 1, 2010 will be cancelled>>

What fees will I be charged if Patriot Equity Credit Union pays my overdraft?

Under our standard overdraft practices:

• We will charge you a fee of up to $35 each time we pay an overdraft.
• There is no limit on the total fees we can charge you for overdrawing your account.

What if I want Patriot Equity Credit Union to authorize and pay overdrafts on my ATM and Everyday Debit Card Transactions?

If you want us to authorize and pay overdrafts on ATM and Everyday Debit Card transactions, submit the form below OR complete this form and return it to your local branch, or call 731-668-1155.  You may also mail this form to:

Patriot Equity Credit Union
57 Directors Row
Jackson, TN  38305

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Fill-in your full name below, select the Courtesy Pay Opt-in box and click Submit

Name:
Account Number:
Effective August 15, 2010, I want Patriot Equity Credit Union to authorize and pay overdrafts on my ATM and Everyday Debit Card transactions.