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Overdraft Privilege

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Protection when it matters

Life can get very busy for all of us and simple mistakes sometimes happen. Silver State Schools Credit Union is pleased to provide four options to protect you in the event that you accidentally overdraw your checking account.

Share Overdraft Transfer
With a Share Overdraft Transfer, you can pay overdrafts by moving money from your savings account to your checking account if funds are available (limited to 6 transfers per month combined with other transfers).
This service pays checks, ATM transactions, ACH automatic debits, recurring debit card payments, online Bill Pay items, ATM transactions, and everyday Debit Card transactions.

Overdraft Line of Credit*
Members can use a Personal Line of Credit as a source of overdraft protection with no per-item overdraft fees. *Subject to approval, interest charges apply.
This service pays checks, ATM transactions, ACH automatic debits, recurring debit card payments, online Bill Pay items, ATM transactions, and everyday Debit Card transactions.
Apply for a Overdraft Line of Credit

Overdraft Privilege (ODP) - No Action Required
Our ODP program allows an account to be overdrawn up to $800 to pay charges on your behalf in situations where you may have insufficient funds. This service is applied only after your other overdraft protection options have been exhausted. This feature is already a part of your checking account. 
This service pays checks, ACH automatic debits, recurring Debit Card payments, and online Bill Pay items. Overdrawn balances must be paid by the 45th day of being negative to avoid charge off. Overdraft Privilege (ODP) is suspended when the account reaches 35 days negative. Overdraft Privilege (ODP) transactions may be declined if an account has exceeded the program allowance ($800 ODP) or a negative balance has not been repaid.

Reg E Opt-In - Action Required*
An optional enhancement to Overdraft Privilege to also cover ATM and everyday debit card transactions. To take advantage of this optional enhancement you must opt-in to this service. Similar to Overdraft Privilege, there is no fee to have this service on your account. You are only charged if you use it. Members will be charged the normal $32.00 fee for each paid item presented. Whether the item is paid or returned, the member will be assessed the same overdraft fee. Please see our Rate and Fee Schedule for details.

Quick Note: One fee is better than two! If we did not cover your overdraft, you would pay twice - one fee from the credit union and one from the merchant. Merchants and retailers set their own fees for returned items, typically between $25 and $75 per item.
*If you want us to pay ATM and one time debit card transactions that would overdraw your account we need your affirmative consent to do so.

If funds in your account are not available, ATM and everyday debit card transactions will be declined when you have insufficient funds.
You're authorizing us to pay overdrafts on everyday debit card and ATM transactions. This is in addition to what we'll automatically pay for you as part of our standard Overdraft Privilege service (checks, ACH, and/or automatic bill payments) up to your assigned limit.

If you want to OPT-IN to authorize and pay overdrafts on ATM and everyday debit card transactions, please visit any one of our branch locations or you can call us at 800.357.9654.

Chart showing transactions covered for Share Overdraft Transfer, Overdraft Line of Credit, Overdraft Privilege (ODP) and Reg E Opt-in

Ways to Avoid Overdraft
Keeping tabs on your account and balances is one of the best ways to prevent overdrafts. Silver State Schools Credit Union offers many free and convenient tools to help you monitor your accounts and avoid overdrawing your funds.
Free Online Banking - Secure 24/7 access to your accounts.
Free Mobile Banking - Secure and convenient on-the-go access on your smartphone or tablet.
Account Alerts - Set up account alerts via Online Banking to receive notifications with balance updates and many other account information options you can select.

*If you have questions regarding what other overdraft protection options are available to you please visit any one of our locations or you can call us at 800.357.9654.
Data and other wireless carrier charges may apply when accessing Online and Mobile Banking via a wireless device.