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Overdraft Protection

Overdraft Protection

It’s happened to us all. You’ve written a check for a service or try to swipe a card to pay for dinner, and the transaction is either declined or results in expensive overdraft fees. We’ve got you covered! Every Sandia Area checking account features Courtesy Pay, allowing Sandia Area to pay your check or ACH payment to avoid the stress of a bounced check or unpaid bill (does not cover debit card transactions). Want your debit card transaction covered as well? Enroll in Courtesy Pay+ now!

Important Information

We will not authorize to pay overdrafts for certain types of transactions unless you opt-in to our Courtesy Pay+ Overdraft Program. Please read the following information and complete form below to opt-in for Sandia Area Federal Credit Union Courtesy Pay+ Overdraft Program.

What You 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 that come with your account.
  • We also offer overdraft protection plans, such as a line of credit for those who qualify or a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

This notice 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 written on your account
  • ACH withdrawals from your account
  • Online Bill Pay transactions

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • Everyday debit card transactions
  • ATM 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 Sandia Area Federal Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of $29 each time we pay an overdraft
  • There is no limit on the total fees we can charge you for overdrawing your account
  • Your account will need to have a positive balance within 30 days

Opt in to Courtesy Pay+

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Notice: By submitting your request, you agree to accept written confirmation of this request in the form of an email. You must have an active email address. You understand that fees, terms and conditions may be changed by the credit union at any time.

You can revoke your election at any time by calling the credit union at 505.292.6343, visiting any of our branch offices, or revisiting this online election form.

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Courtesy Pay is not a loan. Before using Courtesy Pay, we will first attempt to clear the item by using any Overdraft Protection plan you may have in place. You will receive notification when transactions are paid using your Courtesy Pay benefit. Please note that we are not obligated to notify you before we pay or return an item or deny a transaction. Program parameters include:

  • $29 fee will be assessed for each overdraft
  • Total overdrafts cannot exceed $3,000, including fees
  • 30 days to bring the account back to positive status
  • You may opt out of Courtesy Pay+ by speaking with a Member Services Officer or calling our Call Center
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