Overdraft Coverage

We're probably all aware that the best way to avoid overdrafts is to spend less than what's in your account. But let's be honest, life get's crazy sometimes! Mistakes happen...those aren't things you can always plan for, and it's nice to know you're covered if they pop up. 

OVERDRAFT COVERAGE  OPTIONS

find the combination that works for you
Overdraft coverage may help you out if a transaction is going to overdraw your account. Each overdraft coverage option we offer has a little bit different rules, so you'll want to check out the details below. Keep in mind you can choose the combination of protection options that works best for you! It's not an all or nothing sort of deal.
 
Transfer from another Capital deposit account $5 fee per transfer
Transfer from Kwik Cash line of credit Subject to interest
Premium Overdraft $26 insufficient fund fee per item

OVERDRAFT PROTECTION

These options apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account or line of credit you have at Capital Credit Union for a finance charge. Please note that overdraft lines of credit are subject to credit approval. 
 

PREMIUM OVERDRAFT

This option allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Premium Overdraft is available as secondary coverage if the overdraft protection source is exhausted. Please review the “What Else You Should Know” section at the bottom of this page for more details. 
Transaction Covered with Premium Overdraft
Standard Coverage
(No action required)
Extended Coverage
(Your consent required for consumer accounts)*
Checks X X
ACH - Automatic Debits X X
Recurring Debit Card Payments X X
Online Bill Payments X X
Teller Window Transactions X X
ATM Transactions
X*
Everyday Debit Card Transactions
X*
*If you choose Extended Coverage, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage.

 

Interested in Extended Coverage?

Make the move now online with the 
Extended Coverage Consent Form

You can also:

  • Call us at 920-494-2828 or 1-800-728-4294
  • Visit any branch
  • Complete this consent form and mail it to us at ATTN: EServices Department PO Box 2526 Green Bay, WI 54306
  • E-mail us at EServices@capitalcu.com

WHAT ELSE YOU SHOULD KNOW

  • A link to another account or a line of credit may be a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our mobile banking, Internet banking, and telephone banking services to keep track of your balance. For additional financial education resources, please visit www.mymoney.gov.

  • The $26 Insufficient Funds Fee is the same fee amount that is charged if a check is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Insufficient Funds Fee or a Return Item Fee of $26. All fees and charges will be included as part of the Premium Overdraft limit amount. Your account may become overdrawn more than the Premium Overdraft limit amount because of a fee.

  • For consumer and business accounts, there is no limit on the total Insufficient Funds Fees per day we will charge.

  • The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. The payment order can affect the number of items overdrawn or returned unpaid and the amount of the fees you may have to pay. To assist you in managing your account, we are providing you with the following information regarding how we process those items. Our policy is to process ACH credits first, in the order they are received on the day they are processed. We process electronic transactions second, in the order they are received on the day they are processed. We process checks and similar items third, by dollar amount - smallest to largest on the day they are processed. However, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies. Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of Insufficient Funds Fees or uncollected funds fees assessed. If a check, item or transaction is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item for insufficient funds (NSF). We will not charge you a fee for paying an overdraft of an ATM or everyday debit card transaction if this is a consumer account and you have not given
    consent for that service. The amounts of the overdraft and NSF fees are disclosed elsewhere, as are your rights to give consent to overdraft services for ATM and everyday debit card transactions, if applicable. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and potentially incurring the resulting fees.

  • Although under payment system rules, Capital Credit Union may be obligated to pay some unauthorized debit card transactions, Capital Credit Union will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions and any fee(s).

  • Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring Insufficient Funds Fees for transactions that we would otherwise be required to pay without assessing an Insufficient Funds Fee. However, this would allow us to authorize transactions up to the amount of your Premium Overdraft limit and may also help you avoid overdrafts in excess of your available balance that could result in suspension of your debit card. If you consent to Extended Coverage on your consumer account, it will remain on your account until you otherwise withdraw it.

  • Capital Credit Union authorizes and pays transactions using the available balance in your account. Capital Credit Union may place a hold on deposited funds in accordance with our Understanding Your Account disclosures, which will reduce the amount in your available balance. The available balance for checks, ACH items, and recurring debit card transactions is comprised of the ledger balance, less any holds on deposited funds and any debit card holds, plus the amount of the Premium Overdraft limit and any available overdraft protection. The available balance for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance, less any holds on deposited funds and any debit card holds, plus any available overdraft protection, but does NOT include the Premium Overdraft Limit. For accounts with Extended Coverage, the Premium Overdraft Limit is included in the available balance for authorizing ATM and everyday debit card transactions.



  • Please be aware that the Premium Overdraft amount is not included in your available balance provided through online banking, mobile banking or Capital Credit Union’s ATMs.

  • Capital Credit Union will place a hold on your account for any authorized debit card transaction until the transaction settles (usually two business days but up to three) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends, the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Insufficient Funds Fee may be assessed.

  • Except as described herein, Capital Credit Union will not pay items if your account does not contain available funds (including the Premium Overdraft limit) to cover the item(s) and the amount of any fee(s).

  • Capital Credit Union may suspend your debit card if you incur overdrafts in excess of the available balance in your account, including any Premium Overdraft limit (as described herein). Debit cards on your account will remain suspended until you make sufficient deposits so that your available balance, taking into account any Premium Overdraft limit, is positive and then you contact us.

  • Capital Credit Union may also suspend your debit card if your account is overdrawn more than 32 consecutive calendar days. Debit cards on your account will remain suspended until you make sufficient deposits so that your account balance is positive.

  • If your debit card is suspended, you will be unable to use your debit card for purchases or to access your account at the ATM, and if you use your debit card for recurring payments, e.g., utilities, you are responsible to make other arrangements for your recurring debit payment(s).

  • Capital Credit Union may provide you a specific Premium Overdraft limit depending on the type of account you have. New consumer accounts will receive a $500 limit after 30 days in good standing for consumer accounts and will increase to $750 after 180 days in good standing or to $1,000 after 60 days in good standing for business accounts. You will receive a letter approximately 30 days after account opening, for consumer checking accounts, or after 60 days, for business checking accounts, informing you that Premium Overdraft has been activated on your account. You do not have Premium Overdraft until you receive this notification.

  • Premium Overdraft is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.

  • Premium Overdraft may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within 32 days for a minimum of one business day. You must bring your account balance positive for at least one business day to have Premium Overdraft reinstated.

  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Understanding Your Account disclosures. The total (negative) balance, including all fees and charges, is due and payable upon demand.