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Overdraft Protection

This service is designed to prevent checking account transactions from being rejected because there is not enough money in the account to cover the transaction. This is also known as non-sufficient funds (NSF).

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Protect Your Funds

If the savings or checking account does not have enough funds to cover the payment, based on the available balance, funds will be transferred from the designated account to cover the overdraft. The overdraft transfer fee applies if there is insufficient money in your account based on the available balance described above. See the Depository Agreement in Online and Mobile Banking for additional details.

Overdraft Protection allows funds to be transferred from a designated Sun East Savings or Checking Account to pay what would otherwise be rejected items due to insufficient funds.

Sun East offers this service free for up to two (2) transactions per calendar month. The fee for three (3) or more transactions will be $10 per transaction during the same statement period.

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Overdraft Protection in Action

Here’s how overdraft protection works.

  • Sun East determines whether you have enough money in your account based on the available balance.
  • The available balance is the ledger balance, minus any holds on deposited funds (see Funds Availability Policy in the Depository Agreement located in Online and Mobile Banking) and holds placed on debit card transactions, plus the Courtesy Pay Privilege limit or, if you opted in, the Courtesy Pay Privilege Plus limit.
  • Holds placed on your account pursuant to our Funds Availability Policy will reduce your available balance.
  • Overdraft Protection allows funds to be transferred from a designated credit union savings or checking account to pay a transaction that might be rejected because you do not have enough money in your account. If there is not enough money in your account based on the available balance, the payment will be rejected and resulting in fees from the credit union and the merchant that does not receive the payment – unless Courtesy Pay Privilege is applied.

Budgeting Tip

Members who use an additional checking account as the overdraft account should be aware that the account can be withdrawn from continuously. This could create a potential problem such as excessive transfer fees.

More information on Overdraft Protection can be found in our Depository Agreement – Available in Online Banking and on the Mobile App.

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