FAQ

What is an Overdraft?

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:

  • We offer Overdraft Protection, which is a link to your Savings Account, and/or your Line of Credit, which may be less expensive than our Overdraft Privilege. To learn more, ask us about these plans

  • Overdraft Privilege is offered at WESLA’s discretion and your permission. This allows us to overdraw your account for up to $600, including fees, for a maximum term of 30 days

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 (by signing up for our Overdraft Protection):

  • ATM Transactions

  • Every day, 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 WESLA Federal Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $32 each time we pay an overdraft

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

What if I want WESLA Federal Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions;

Overdraft Protection Disclosure

At WESLA Federal Credit Union, we understand that unexpected expenses can happen. Our Overdraft Protection Program is designed to provide coverage when you need it most. Below, you will find important details about how the program works, associated fees, and repayment requirements.

How Overdraft Protection Works

If you opt-in to Overdraft Protection, WESLA may cover transactions that exceed your available balance, up to a pre-approved limit of $600.
This coverage may apply to checks, ACH transactions, bill payments, and debit card purchases (if opted in for one-time debit card transactions).
If an overdraft occurs, a standard Overdraft Fee of $32 per transaction will apply.

Opt-In Disclosure & Member Agreement

By opting into Overdraft Protection, you acknowledge and agree to:

  • Applicable Fees: A fee of $32 per covered transaction may be charged when an overdraft occurs

  • Overdraft Limits: The maximum overdraft coverage amount is $600 (subject to account standing and eligibility)

  • Repayment Obligation: Any overdraft balance must be repaid within 45 days from the date the overdraft occurs to avoid further penalties or restrictions

Repayment & Account Requirements

Overdrafts must be repaid in full within 45 calendar days to maintain account eligibility for continued overdraft coverage.
If an overdraft remains unpaid beyond the repayment period, additional action may be required, which could include account restrictions or suspension of overdraft privileges.

How to Opt-In or Opt-Out

To enroll in Overdraft Protection, you may request an Overdraft Enrollment form at any branch location after having an average monthly balance of $600 or more for at least 3 months.

You may opt-out at any time by completing the form at any branch location.

For additional details, please refer to our Overdraft Protection Agreement or contact us at (318) 687-8700.