Overdraft Transfer Service
Overdraft Transfer Service helps prevent NSF (non-sufficient funds) fees or an overdrawn account when your Checking account doesn’t have sufficient funds to pay an item.
How Does Overdraft Transfer Service Work?
Overdraft Transfer Service automatically moves available funds to your Checking account from up to two designated protecting accounts. A protecting account can be a GKCU Share, Money Market Share or Checking account, or an Open-End Signature loan, or Visa® Secured Credit Card.1, 2
Overdraft transfers occur in whole dollar amounts. If the standard transfer increment is not available in the protecting account, all funds available (in whole dollars) will be transferred to your Checking account.3 Once an account is enrolled in Overdraft Transfer Service, you can also enroll in GKCU’s Another Chance Alerts program.
- $0.50 fee for each overdraft transfer
- Up to two protecting accounts
- Funds transferred in $50 increments
How to Get Overdraft Transfer Service
2 Overdraft transfers from an Open-End Signature loan or Visa Secured Credit Card are considered loan advances and interest begins to accrue on the credit account immediately. Overdraft transfers from Open-End Signature loans can be made up to 100% of the unused line of credit plus $200. Overdraft transfers from credit cards can be made up to the unused line of credit plus 10% of the credit limit.
3 Funds are transferred from the primary protecting account first. If funds in the primary protecting account are insufficient to cover any item posting to the Checking account, all available funds are transferred from the primary protecting account and then another transfer is made from the secondary protecting account, if funds are available. Your Checking account will incur a $0.50 transfer fee for each transfer.