Debit Card Overdraft FAQs

Q. If I have Courtesy Overdraft Protection linked to a savings account, credit card or home equity line of credit, do I still need this service?
A. The Courtesy Overdraft Protection you may already have on your checking account allows us to automatically transfer money from your First Federal savings account, credit card or home equity line of credit if the balance in your checking account runs low. However, if you don’t have money or credit availability in these accounts to cover you, your everyday debit card purchases will be denied. That’s where First Federal Debit Card Courtesy Overdraft Protection can help. It may allow your debit card to continue working if you’re not signed up for Courtesy Overdraft Protection or if you don’t have enough money or credit availability in your savings account, credit card or line of credit. First Federal Debit Card Courtesy Overdraft Protection may help when you’re facing an unexpected emergency.

Q. If I sign up for Debit Card Courtesy Overdraft Protection, will my debit card charges always go through?
A. No. Whether a transaction will be paid is discretionary and we reserve the right not to pay. Most overdrafts are paid but there is no guarantee. The amount of overdraft coverage will vary based on your account history, deposit and spending patterns. You can also sign up for helpful alerts to get a text message when your balance is low or your account is overdrawn.

Q. Are there fees?
A. There is no fee if you have the service and don’t use it. But if you do overdraw your account using your debit card, you will pay up to a $33 ($36 for Free Checking) fee each time you use your debit card and don’t have sufficient funds in your account at the end of the day. We will also charge a $6 fee each day your account remains in the negative. 

Q. When do I need to make my deposit to avoid an overdraft fee?
A. You will have until the cut-off time (as posted at the branch or AT M) of the business day of your transaction to make
your deposit. If your debit transactions occur on a non-business day, you will have until the cut-off time of the next
business day.

Q. What about automatic debit card payments that I set up with a merchant?
A. Debit card purchases that are set up to bill automatically (like a gym membership) may continue to be authorized at our
discretion even if you do not sign up for Debit Card Courtesy Overdraft Protection.

Q. If I do not sign up for Debit Card Courtesy Overdraft Protection, when will you stop paying my everyday overdraft debit card items?
A. I f we do not receive a response from you, we will stop paying your everyday overdraft debit card items beginning on 8/15/10. You can plan ahead now and keep your account working as it does today, by telling us to continue your Debit Card Courtesy Overdraft Protection.

Q. What if I can’t decide or don’t want this service?
A. We’re happy to talk with you about options for managing your account. Call your local branch or visit a banker to discuss Debit Card Courtesy Overdraft Protection, and if you’re certain that you don’t want your everyday debit card transactions authorized when you don’t have sufficient funds, your banker can remove this service from your account. But try to talk with us before 8/15/10. That way, we can keep your account working as conveniently as it does today if you decide to keep your Debit Card Courtesy Overdraft Protection.

Yes, I want to Opt-In