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Overdraft Options

Protect yourself against overdraft fees.

Did you know that CAP COM has several ways to help you manage your money to avoid overdrafts and fees?

Life gets busy – overdrafts happen. We can protect your account, your money and your reputation. Whether you're looking for a no-hassle, automatic transfer or you want to prevent an overdraft before it happens, we can help.

Which option is best for you?

 

1 I have money in a Savings Account I can use to cover purchases from my Checking Account.

Set up an Automatic Transfer to be made from your Savings Account if your Checking Account is about to be overdrawn (there is a $2 fee).

TIP: Set up a low balance alert text to your phone. You can then transfer the funds yourself via mobile or online banking to avoid the $2 fee.*

 

2 I don't have money saved but want to avoid fees each time I need money to cover a purchase.

Apply for a Checking Line-of-Credit. When you don't have enough money in your account to cover a check, debit or preauthorized withdrawal (ACH withdrawal), money from this loan will be automatically deposited into your account. The Annual Percentage Rate on this loan is 13.50 % APR** but the monthly finance charge is minimal as compared to overdraft and transfer fees.

TIP: Pay down your Line-of-Credit as soon as you get paid to avoid carrying a balance each month.

 

3 You can use Courtesy Pay to cover Checking Account overdrafts.

You have Courtesy Pay unless you specifically opted out. This product covers your Checking Account overdrafts by check and ACH (pre-authorized withdrawal) transactions for up to $500.*** There when you need it, Courtesy Pay won’t cost you anything if you never use it. Fees range from $10 to $30 depending on the amount of the overdraft transaction but, rest assured, your check or ACH will be paid. You’ll be spared the embarrassment and the charge from your merchant for the returned check – sometimes as much as $40!

 

Visit any branch or call us at (518) 458-8986 if you need help or have any questions. Click here to view the Courtesy Pay Agreement and Disclosure.

* Message and data rates may apply.
**Annual Percentage Rate. This is a variable rate loan and the rate may change.
***Coverage includes fees. Member Courtesy Pay Program limit is $500. Young Adult Checking Account holders (ages 18-25) may be denied the use of the Member Courtesy Pay Program or limited to $100. Eligibility restrictions apply. We retain the right to decline Courtesy Pay Program transactions. If we do not authorize and pay an overdraft, your transaction may be declined and a returned item fee will be assessed, if applicable.