How Does Overdraft Protection Work?
2 Min. Read
Open a Checking Account with Marine Credit Union
When you open a Marine Credit Union Checking Account, you open new possibilities. We can help you reach your financial goals, even if you’ve been turned down elsewhere.
We offer four lines of defense in the event of an overdraft:
- My Grace Zone: Qualified members in My Relationship Checking who opt in for Reg E can take advantage of this free service. In the event of an overdraft, Marine Credit Union will cover the charge without a fee up to $50.
- Free Overdraft Protection with Linked Accounts: Link your Marine Credit Union checking and savings accounts and get free transfers to protect against overdraft fees. In the event of an overdraft, MCU will automatically transfer funds from your savings account to cover the transaction in increments of $100.
- Kwik Cash Line of Credit: Members who apply and qualify can link Kwik Cash Line of Credit to their accounts. Doing so allows funds to draw in the event of an overdraft, and you will be charged interest on the balance.
- Overdraft Privilege: This service allows MCU to pay the charge in the event of an overdraft over $50 on My Relationship Checking. MCU will cover the transaction for an overdraft fee of $35 per instance, with a maximum of six charges per day. Note: To use Overdraft Privilege on your debit card, you must opt in to Reg E, which allows us to cover overdrafts.
More Ways to Handle the Unexpected
In addition to overdraft protection, Marine Credit Union offers flexible short-term borrowing options to help you manage life’s surprises:
- My Fast Cash: Whether it’s an unexpected bill or a last-minute need, My Fast Cash offers a quick and easy way to access funds without the hassle. You can apply and get approved in minutes.
- Personal Loans: With clear terms, fixed payments, and zero hidden fees, a Marine Credit Union personal loan is a stress-free way to cover unexpected costs or make your financial goals a reality.
At Marine Credit Union, we’re here to help you keep moving forward, no matter what life throws your way.
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Jennifer Tucker
Jennifer Tucker is a freelance writer for Marine Credit Union. She has held roles in banking, marketing, and public relations during her 15+ year career. She holds a bachelor’s degree in communication with a minor in journalism from the University of Portland and a master’s degree in communication from Marquette University.
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