Keep Your Overdraft Privilege
At Greater Nevada Credit Union we understand that unforeseen expenses can occur when you might not have enough money in your account to pay for them. That's why we currently cover overdrafts for checks written on your account and your everyday debit card and ATM transactions through our service called Overdraft Advantage.
Unfortunately, as a result of new government regulations that take effect August 15, 2010, we are no longer able to authorize overdrafts for your everyday debit card and ATM transactions, regardless of the amount or importance, unless you ask us to. (The new regulations do not apply to paper checks.)
Some Financial Institutions have already decided not to offer you the choice to elect whether you want these transactions paid or not. We believe this is a decision best made by you, our member.
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. Though we do so at our discretion and don't guarantee payment, in most cases, Greater Nevada pays the difference as a courtesy to you. 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 link to a savings account or line of credit (upon credit approval), which may be less expensive than using our standard practices. To learn more about these, ask your Member Service Representative or call (775) 882-2060.
Our standard overdraft practice is to authorize and pay overdrafts for:
- Checks and other transactions made using your checking account number
- Automatic bill payments
Effective August 15, 2010, we do not authorize and pay overdrafts for the following types of transactions unless you ask us to:
- ATM transactions
- Everyday debit card transactions
Under our standard overdraft practices:
- Greater Nevada charges a fee of $34 each time we pay an overdraft.
- Also, if your account remains overdrawn, we may assess an additional $10 per day until you bring your account to a positive balance.
- There is no limit to the total fees we can assess if you overdraw your account.
If you choose not to authorize Greater Nevada to pay your overdrafts for Debit/ATM transactions:
- All overdraft Debit/ATM transactions will be declined regardless of amount or importance of the attempted purchase or transaction.
Opt In/Out Online Form
Alternative Ways to Make Your Choice
Our member service representatives are standing by if you prefer to make your choice by phone.
If you prefer to make your choice by mail, please print this form and send it to:
Greater Nevada Credit Union
PO Box 2128
Carson City, NV 89702-2128
If it's easier to talk about things in person, please visit one of our locations and ask a representative to help you decide which plan would work best for you.