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 your overdrafts in two different ways:

  1. We have standard overdraft practices that come with your account.
  2. We also offer overdraft protection plans, such as a link to a savings account or a line of credit, which may be less expensive than our standard overdraft practices. To learn more, please ask about these plans.
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:
  • Checks and other transactions made using your checking account number
  • Automatic bill payments
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
  • ATM transactions
  • Everyday 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 transactions.

If we do not authorize and pay an overdraft, your transaction will be declined.

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

Under our standard overdraft practices:
  • We will charge you a fee of $29 each time we pay an overdraft ($145 maximum per day).
  • Beyond the daily maximum, there is no limit to the total fees we can charge you for overdrawing your account.
What if I want Alliance Credit Union to authorize and pay overdraft on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions: Complete the secure online form below and hit submit; or call 800.232.8669 between 6:00 am and 6:00 pm PDT, Monday through Friday; or complete a paper form in our financial centers and give it to an Alliance representative or mail it to PO Box 18460, San Jose, CA 95158-8460.


I DO NOT want Alliance Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions. (Checking this box excludes ATM/debit overdrafts for ALL accounts under the member number(s) below.)
I DO want Alliance Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions. (Checking this box authorizes ATM/debit overdrafts for ALL accounts under the member number(s) below.)
 
First Name Last Name
Member Number Last 4 of SSN
Contact Phone Number Email Address
Date  
 
By checking this box you are “signing” this form and authorizing Alliance Credit Union to update your account with the selection you made above. You also confirm that you are an authorized signer on this account. You agree to receive electronic confirmation of any opt-in.
 
This is a secure form
Please note: Your submission will not take place immediately. Please allow 24 hours for your overdraft choice to go into effect.
Courtesy Coverage Policy