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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:

  • We have standard overdraft practices that come with your account.
  • We also have overdraft protection plans, such as a line of credit that may be less expensive than our standard overdraft practices.

This page 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, in-person withdrawals, ACH transactions, pre-authorized automatic transfers
  • Automatic bill payments, internet banking transfers, telephone banking transactions
  • Recurring debit card transactions

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

 

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

  • We charge a fee of $28.50 each time we pay an overdraft.
  • There is no limit on the total fees we can charge you for overdrawing your account.

Overdraft Privilege gives you the chance to have an item paid, versus the item being returned. Here’s an example of how this service can help you save money:

  WITHOUT OVERDRAFT PRIVILEGE WITH OVERDRAFT PRIVILEGE
Transaction Amount $X $X
ODP Fee - $28.50
Insufficient Funds Fee $28.50 -
Merchant Return Fee $44 -
YOU PAY $72.50  $28.50

 

What if I want Envista Credit Union to authorize and pay overdrafts on my debit or ATM card purchases?

If you also want us to authorize and pay overdrafts on everyday debit or ATM card purchase transactions, you must opt in and enroll for this service.  You can enroll by clicking on the Reg E "Opt-In" button.  

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At Envista we honor the individual and we keep your best interests in mind. ODP is a backup plan. It’s there “just in case.” Life happens, so ODP is there when you need it.

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