Find answers here to frequently asked questions about overdraft privileges. If you don’t see the answer to your question, please use our live chat feature or call our Service Center at 303-471-7625.
There are a couple of easy solutions to help you stay on top of your account balances and avoid overdrafts. The best way to get up-to-the-minute information about the availability of funds in your accounts is through our Online Banking and Mobile Banking. You can also check your balance by calling our 24-hour telephone service at 303-471-7600.
Red Rocks Credit Union offers several ways to cover overdrafts, such as linking your checking account to a savings account or to a line of credit. If you have one or both of these overdraft protection services, Red Rocks Credit Union will first attempt to transfer funds from these resources to cover any overdraft items. Overdraft Privilege will only be used if your overdraft protection resources have been exhausted. Ask a member services representative for more information on these resources.
Overdraft Privilege is a discretionary service offered to eligible* Red Rocks Credit Union members. In the event your available funds are insufficient, Overdraft Privilege allows your checks, automated payments (ACH), online banking and recurring debit transactions to be paid up to the amount of your Overdraft Privilege Limit of $750.00 for a fee of $30 per item**.
This service may save you the inconvenience and embarrassment of bounced checks or declined transactions and the resulting costs such as non-sufficient funds (NSF) fees, late payment penalties and interest charges.
To extend the Overdraft Privilege service to your ATM and everyday debit card transactions, you must first give us your consent—without this coverage, your Red Rocks Credit Union ATM withdrawals and everyday debit card transactions will be declined if you do not have sufficient funds in your checking account or alternative forms of overdraft protection (such as a transfer from savings or a line of credit).
By extending Overdraft Privilege to cover your ATM withdrawals and everyday debit card transactions these transaction may be paid up to the amount of your Overdraft Privilege limit for a fee of $30 per item**.
These are debit card transactions that are not ongoing. For instance, buying gas for your car, purchasing dinner at a restaurant, or paying for groceries are all non-recurring transactions, or everyday debit transactions. Transactions such as gym membership or monthly subscriptions are not.
You can extend Overdraft Privilege coverage for your ATM and everyday debit card transactions by:
- Calling our Service Center at 303-471-7625
- Completing an opt-in form and mailing it to us at 9332 Dorchester St Highlands Ranch Co 80129
- Bringing a completed opt-in form by our Town Center Branch
- Completing an opt-in form online
Yes, your coverage continues on all other types of transactions. The requirement to give us your prior consent only applies to your ATM withdrawals and everyday debit card transactions. Checks, ACH, online banking and recurring debit card transactions (like gym memberships) will still be eligible for Overdraft Privilege coverage for a fee**.
*Subject to eligibility. Overdraft Privilege eligibility requirements are as follows: 1) You are at least 18 years of age, 2) Your checking account balance must not be negative for more than 30 calendar days; and 3) You must be in good standing, which means no delinquent or charged off loans or charged off share accounts with Red Rocks Credit Union, and you do not have any bankruptcies, levies or garnishments on your account. We may not pay items under your overdraft privilege if you do not meet these eligibility requirements.
**Accounts will be charged the standard Overdraft Privilege fee of $30.00 for handling each overdraft created by check, ACH, ATM withdrawal, debit card transaction, or other electronic item that is paid. Each returned item will receive a $32.00 fee. An overdrawn balance must be repaid within 30 days. For complete details on our Overdraft Privilege Program, please refer to the Overdraft Privilege Disclosure and the Account and Service Fee Schedule.