Overdraft Protection
| Order of Protection | Service | Transactions Covered | Cost | Action Required |
|---|---|---|---|---|
| 1 | Line of Credit (subject to credit approval) | Checks, ACH, ATM / Debit | Interest on borrowed funds | If you don't already have a line of credit, you must apply. |
| 2 | Sweep Protection (uses savings balance at Direct Federal) | Checks, ACH, ATM / Debit | $10 fee per transfer | NONE |
| 3 | Courtesy Pay | Checks, ACH | $30 Courtesy Pay fee per item* | NONE |
| 4 | Courtesy Pay Plus | Checks, ACH, ATM / Debit | $30 Courtesy Pay fee per item* | If you want Courtesy Pay Plus, please call 781.455.6500. |
All checking accounts at Direct Federal come standard with Courtesy Pay, which includes checks, ACH (automatic debits), recurring debit card transactions, and telephone and internet banking transactions. You can discontinue Courtesy Pay in its entirety by contacting us at (781) 455-6500, sending us a secure email through online banking by selecting the “Secure E-Mail” tab, or visiting us at 50 Cabot Street in Needham.You may also choose to have Courtesy Pay Plus to extend your overdraft coverage to ATM and everyday debit card transactions. Currently, when there are insufficient funds in your checking account, these transactions are not authorized and no fee is assessed. If you choose Courtesy Pay Plus, your same $1,000.00 overdraft limit will also be used to pay ATM and everyday debit card transactions, and the same $30 Courtesy Pay fee will be charged. If you would like to add Courtesy Pay Plus to your overdraft coverage, please call us at (781) 455-6500, send us a secure email through online banking by selecting the “Secure E-Mail” tab, or visiting us at 50 Cabot Street in Needham.
*If the Courtesy Pay amount is less than $30 and you have a Hub checking account, the Courtesy Pay Fee will only be $10 per item. Hub accounts are checking accounts with e-statements and direct deposit, or checking accounts for members 65 years of age or older, or under age 25.For additional information please review the attached "Information You Should Know" document.