Member Privilege

Overdraft Protection Options

Have you ever had a situation where you were making a purchase using your debit card and were not sure if you had the funds needed for the transaction to go through?

Did you worry, wondering if you would suffer the embarrassment of being declined while a line of people were behind you patiently waiting their turn? You are not alone.

Belvoir Federal can help save you from this uncertainty! We provide overdraft services to cover these ATM and one-time debit card transactions, saving embarrassment, and the extra hassles in your already busy day. We want to be sure you are aware of the overdraft protection options available to you — to ensure your transactions are processed.

Below is the information you’ll need to make an informed decision on whether overdraft services are right for you. Please take a moment to review the options available.

If you would like to sign up, you may:

  • Call us at 703.730.1800
  • Stop in one of our four branches to sign up in person
  • Sign up online

We will no longer cover your ATM and one-time debit card transactions if you have not signed up for these overdraft options through one of the above methods.

What do I 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:

  • We have standard overdraft practices (Member Privilege) that come with your account after your checking has been open and maintained in good standing for 30 days.
  • We also offer overdraft protection plans, such as a link to a savings account or a line of credit. No overdraft fees will apply as long as your back-up account has sufficient funds, subject to transfer limitations.

Belvoir Federal’s Standard Overdraft Practices
(Member Privilege) are outlined below:

What are the standard overdraft practices (Member Privilege) 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:

  • 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 Belvoir Federal Credit Union pays my overdraft?

Under our standard overdraft practices (Member Privilege):

  • We will charge you a fee of $30 each time we pay an overdraft.
  • There is no limit on the total fees we can charge you for overdrawing your account.