Account Services

Overdraft Coverage Options

Keeping track of your balances can be tricky and unexpected overdrafts happen.

What is an overdraft?  An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway.

What are the standard overdraft practices 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 Avenir Financial pays my overdraft? Under our standard overdraft practices:

• We will charge you a fee of up to $32 each time we pay an overdraft
• There is no limit on the total fees we can charge you for overdrawing your account

What if I want Avenir Financial to authorize and pay overdrafts on my ATM and everyday debit card transactions?  Courtesy Pay allows you to overdraw your account up to the disclosed limit to pay the transaction for a fee of $32 per item.

• Does the Courtesy Pay Overdraft fee count against my limit?
  Yes, all fees and charges will be included as part of the Courtesy Pay Overdraft limit amount. This means your account may be overdrawn exceeding the Courtesy Pay Overdraft limit amount because of a fee.
• Do I pay a Courtesy Pay Overdraft fee per item?
  Yes, if multiple items overdraw your account on the same day, each item will be assessed an Overdraft or Nonsufficient Fund Fee of $32.
• Are transactions cleared in the order they are received or by transaction type?
  Avenir Financial posts items by transaction types, in the following order (exceptions may occur): credits, ATM and everyday debit card transactions (based on the order in which they are received), ACH debits (based on the order in which they are received), and checks (based on check numbers.)
• If I enroll in Courtesy Pay, can I unenroll later?
  Yes, you can unenroll for Avenir Financial to pay these Courtesy Pay overdrafts at any time by contacting us.
• If I want to enroll in Courtesy Pay at a later date, is that possible?
  Yes, you can enroll in Courtesy Pay at any time by contacting us.

Avenir Financial offers additional options to help protect you from accidental overdrafts.

• Overdraft from your Share Savings Account
  Automatically transfer funds from your linked Share Savings Account, up to your available balance for a fee of $5 per transfer.*
• Link to an Avenir Financial Line of Credit
  Protect yourself from overdrawing your checking account with a Line-of-Credit (LOC). Funds are transferred to your checking account from your LOC as needed to cover overdrafts.*

If you have any questions about your Overdraft Options, please contact us.