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Overdraft Advantage

Frequently Asked Questions

What is Overdraft Advantage? 

Greater Nevada Credit Union understands that mistakes happen. Unforeseen expenses can occur when you might not have enough money in your checking account to pay for them. Though we do so at our discretion and can’t guarantee payment, in most cases, Greater Nevada still honors your transactions as a courtesy to you. That’s the Overdraft Advantage of banking with Greater Nevada Credit Union. 

What does Overdraft Advantage cost? 

There are no extra costs associated with enrollment in Overdraft Advantage. If you use Overdraft Advantage, our standard non-sufficient funds (NSF) fee of $35.00 will be charged for each transaction that overdraws your account.  

Do I need to apply for this service?

No, there is no application. Any qualified Greater Nevada checking account that remains in good standing is automatically enrolled in Overdraft Advantage. However, before Overdraft Advantage can be applied to your account for ATM withdrawals and debit card purchases, you must opt in. You may opt in here. 

Can Overdraft Advantage be taken away?

Yes. The intent of Overdraft Advantage is to help you avoid the embarrassment and inconvenience of declined transactions due to occasional non-sufficient funds in your checking account. If it appears to us that you are misusing Overdraft Advantage, Greater Nevada may, at our discretion and without notifying you in advance, suspend your access to Overdraft Advantage temporarily or permanently. If you are having trouble with budgeting or excessive use of Overdraft Advantage, please consider other overdraft protection services or make use of our budgeting educational programs , available for free to all Greater Nevada members.

What types of transactions are included with Overdraft Advantage?

Overdraft Advantage automatically applies to all checks and recurring electronic transactions. Before Overdraft Advantage can apply to ATM and everyday debit card transactions, you must opt in.

What if I choose not to opt-in for ATM and Debit card purchases?

Greater Nevada’s standard overdraft practices are to pay checks and other items that come through your account, even when they exceed the amount of your available balance. If you do not opt-in, our standard overdraft practices will not be available for ATM and everyday debit card transactions. This means that all overdraft ATM and Debit card transactions will be declined regardless of amount or importance of the attempted purchase or transaction.

Can I change my decision to continue this service?

Yes. You can change your decision regarding Overdraft Advantage at any time. To opt out, simply call, email, or speak with a Member Service Representative to let them know you no longer wish to have Overdraft Advantage. We may require you to sign a form, acknowledging you have selected to opt out of this service. If you opt out of Overdraft Advantage for ATM and Debit card purchases only, such purchases that would have overdrawn your account will be declined and no fee will be assessed. If you opt out of Overdraft Advantage for checks and recurring electronic transactions, such transactions will be declined but a standard NSF fee will still apply. You may also be responsible to pay additional fees to the person or business that you attempted to pay.

How many times can I incur a fee in the same day?

There is no limit on the number or amount of fees you can incur per day on your account.

What's the difference between overdraft protection and Overdraft Advantage?

Overdraft protection is when you arrange, in advance, for a transfer from a Greater Nevada savings account or a personal line of credit to cover overdrafts in your checking account. These services require that you have sufficient funds available on your credit line or in your savings account to cover your negative balance. Credit qualification is required for personal lines of credit and fees and transaction restrictions apply to savings transfers. Learn more about credit lines here and about savings accounts here .

Overdraft Advantage pays transactions that overdraw your account balance even if you don’t have additional funding sources at Greater Nevada. There are no credit qualification requirements or savings balance requirements for Overdraft Advantage. Standard NSF fees still apply.