For more information, please take a look at our Overdraft Coverage brochure.
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:
This notice explains our standard overdraft practices.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
We will not authorize and pay overdrafts for the following types of transactions without your consent:
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.
What fees will I be charged if Chartway Federal Credit Union pays my overdraft?
Under our standard overdraft practices:
What if I want Chartway Federal Credit Union to authorize and pay overdrafts on my everyday debit card transactions?
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, complete the form below, log in to Online Banking, call (800) 678-8765, complete the paper consent form and present it at a branch, or mail it to: 5700 Cleveland Street Virginia Beach, VA 23462. You can revoke your authorization for Chartway Federal 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 that we can properly identify your account.