You may incur overdraft fees when you spend more than you have in your checking account—but you won’t get any with a RCFOS One Checking or RCFOS Confidence Account.
Overdraft services may allow your transactions to go through even when you do not have sufficient funds. Here’s how they work:
Overdraft Protection is an optional service that can help clients avoid declined transactions. The client can link a RCFOS checking or money market account (the “protected” account) to another RCFOS deposit accountDisclosure 1 , credit cardDisclosure 2 , or line of creditDisclosure 2, Disclosure 3 (the “protector” account) and available funds are automatically transferred from the linked protector account when necessary to cover any shortfalls in the protected account. The amount transferred is the exact amount of the overdraft.
Overdraft CoverageDisclosure 4 allows us to pay ATM and one-time debit card transactions when your available balance can’t cover the transaction. You may be charged a $36 fee for each overdraft transaction—and can be charged up to three fees per day. If the original transaction amount is less than $5, we will not charge an overdraft fee. This is an optional service and not available with a RCFOS One Checking or RCFOS Confidence Account.