Don't have enough money in your checking account to cover that last transaction you made? No worries, First NRV has you covered with our Overdraft Protection Service!
This service requires you to link your savings to your checking account. You must have matching funds within your savings to cover the amount that is drafting from your checking account. Automatically transfer money from your savings account to your checking account to prevent insufficient fund fees from being applied to your account. This is considered an electronic transfer. Other forms of electronic transfers are by the phone transfers, and transfers done through online account access or internet branching. If you do not have matching funds in your savings account to cover the amount of the transaction that is trying to clear your accounts, you will have a NSF fee applied to your accounts for any overdrafts. No exceptions will be made.
Automatic transfers (electronic transfers) can only be done 6 times within one month, and afterwards, a $20.00 Regulation D transfer fee will be applied to your accounts for each transfer made after the 6 transfer limit has been reached. So if you go two transfers over the limit, $40.00 in fees will be applied to your accounts. This is a Federal Regulation that we are legally obliged to uphold. No exceptions will be made.
We did not create this fee, but we are required to administer it due to Regulation D. Just keep track of how many transfers you have made within a month, and you will easily and consistently avoid this fee!
A HELPFUL TIP FROM YOUR FRIENDLY NEIGHBORHOOD CREDIT UNION: Take advantage of our online account access through this website to keep better track of the transfers that you have made each month! This will help you dodge the Reg D fee! Just remember, no more than 6 transfers from your savings to your other accounts within one month, or else a $20.00 fee will be applied to your account. NO EXCEPTIONS WILL BE MADE.