Bridgewater Credit Union
Overdraft Protection

Overdraft Protection Options

Bridgewater Credit Union offers three types of overdraft protection for each of our checking accounts.

Overdraft Privilege

With Overdraft Privilege, should you inadvertently overdraw your checking account we have the discretion to cover your overdrafts up to $500 after first subtracting the amount of the overdraft fee(s) as outlined in the Discretionary Overdraft Privilege Policy (this will put your checking account in the negative to cover the funds). This service will help save you the embarrassment and inconvenience of a returned item as well as the fee normally charged to you by merchants for items returned to them.

Authorized Account Transfer

With this form of overdraft protection you authorize Bridgewater Credit Union to withdraw the amount of the overdraft from your savings or checking accounts. This option is best for individuals that prefer to allot the majority of their money to a savings account.

Safeguard Checking

Safeguard Checking is a line of credit with up to $5,000 of overdraft protection. Now you will not have any checks returned for insufficient or uncollected funds, and you will not be charged overdraft fees.

 

Overdraft Privilege Opt-In Form

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

  1. We have standard overdraft practices that come with your account.

  2. We also offer overdraft protection plans, such as a link to a savings account or Safeguard Checking overdraft protection, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices:

What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • ATM Transactions
  • Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Bridgewater Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30 each time we pay an overdraft.

  • There is no limit to the total fees we can charge you for overdrawing your account.

What if I want Bridgewater Credit Union to authorize and pay overdrafts on my ATM and everyday DEBIT card transactions?

If you want BCU to authorize and pay overdrafts on ATM and everyday DEBIT card transactions, fill out and submit the form below, visit a branch office, call our call center at 800-897-0343. If you wish to stop BCU from authorizing and paying overdrafts on ATM and everyday DEBIT card transactions, call our call center at 800-897-0343.

View & Print:
Discretionary Overdraft Privilege Policy (PDF)

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OVERDRAFT PRIVILEGE OPT-IN FORM

All fields marked with an asterisk ( * ) are required fields that must be completed before submitting your application.


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