Buffalo Metropolitan Federal Credit Union

Loans

Overdraft Protection

This optional line-of-credit is an excellent way to protect yourself from overdrawing your checking account. Some financial institutions charge as much as $30.00 when they clear a check that would have otherwise bounced. Their "courtesy pay" fee applies regardless of how little you needed for that check to clear. With Buffalo Metropolitan's overdraft protection, you simply pay on the monies that are needed to cover your transaction.

A Security Blanket for Your Checking Account.

All Members with a checking account are eligible to apply for an overdraft protection. It's a line-of-credit loan that works as a security blanket for your checking account. The overdraft line-of-credit loan is linked directly to your checking account. In the event enough funds are not available, your overdraft will kick-in.

Prevent Bounced Checks.

Should you write a check and the funds are not available at the time it is processed, an advance from your overdraft line-of-credit will be deposited into your checking account so it will clear. Then you simply pay off the loan that was advanced, plus any interest.

Debit Card Purchases Covered.

It's easy to misplace a receipt from a debit card purchase and then forget to subtract that amount from your transaction registry. Overdraft protection will help prevent declined transactions; funds will be automatically transferred from your overdraft line-of-credit to your checking account to cover transactions. You pay off the loan that was advanced, plus any interest.

Use & Pay-On Only the Money That Was Needed

Only the exact amount needed to cover the check/transaction will be advanced from your overdraft line-of-credit to your checking account. We encourage you to consider applying for an overdraft line-of-credit to protect yourself from bounced checks and declined transactions.

An overdraft line-of-credit can range anywhere from $100.00 to $1,000.00. A loan officer will work with you to identify your needs and then tailor your overdraft protection accordingly.

Apply for overdraft protection · Rates for overdraft protection

Track Usage & Make Payments.

You have the option of paying what was advanced, plus any interest, or you can just make the minimum payment. You can make an overdraft line-of-credit payment by transferring funds from your savings or checking account to your overdraft protection. 

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If there aren't enough funds in your checking account or linked overdraft protection to cover an item, overdraft protection won't occur and you will be charged a non-sufficient funds fee. That's why it's a good idea to track your available funds and available credit via online banking.

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