What is an Overdraft?
An overdraft occurs when a transaction exceeds your available balance, and the financial institution covers the transaction.
What is an Available Balance?
The Available Balance is the portion of your account balance which is available for you to spend at any given time.
Available Balance changes throughout the day as you make transactions. Deposits may increase your Available Balance, withdrawals and purchases may reduce your Available Balance.
Note: Available Balance does not reflect:
- Written checks that haven’t been cashed
- Bill payments that are scheduled and haven’t been posted
- Pending pre-authorized debits such as utilities or subscriptions via an ACH transaction
- Deposits that have yet to be made available (according to our funds availability)
What Types of Overdraft Services Does First Citizens' Provide?
Courtesy Pay Overdraft Service
Courtesy Pay is a discretionary service offered to help cover transactions that could lead to insufficient funds. Should a transaction occur that overdraws a member's checking account, the Credit Union will strive to pay the overdrawing item and charge the normal overdraft fee. This service includes checks, ACH and recurring debit card transactions. This service is available to all checking account members and is provided at the institution's discretion. Although an overdraft fee will be charged, this service avoids having an item returned unpaid and avoid any potential fee the merchant may charge in conjunction with a returned item
Debit Card Overdraft Service (Reg. E)
If desired, everyday debit & ATM transactions may be paid if the transaction overdrafts the account. This service is part of the Financial Regulation E and needs to be signed up for. Although an overdraft fee will be charged, this service avoids having an item returned unpaid and avoid any potential fee the merchant may charge in conjunction with a returned item
Account Overdraft Transfers
With Account Overdraft Transfers, you can avoid the normal overdraft fee by linking an eligible savings account to an eligible checking account at First Citizens’. The accounts must have the same ownership titles and an Overdraft Transfer Fee will be charged for each transfer.
How do I enroll in an Overdraft Service?
Call our Contact Center at 1-800-642-7515, visit one of our 11 branches
Tips to avoid
- Monitor accounts regularly by enrolling in Online and Mobile Banking. Be sure to monitor debit card purchases, ATM withdrawals, written checks and any automatic bill payments you’ve set up.
- Enroll in account alerts through your Mobile Banking App. Our Mobile Banking App allows you to set up alerts including low-balance alerts that allow you to receive notifications or emails when you hit a predetermined low-balance threshold.