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Overdraft Privilege

Accounts will be charged the standard Overdraft fee of $35.00 for handling each overdraft created by check, ACH, Point-of-Sale, ATM withdrawal, in-person withdrawal, or other electronic item that is paid and $35.00 for items returned. An overdrawn balance must be repaid within 30 days. We may not pay items under your overdraft privilege if you do not maintain your account in good standing by bringing your account balance to a positive balance within every thirty (30) day period for a minimum period of 24 hours, if you default on any loan or other obligation to Bar-Cons FCU or if your account is subject to any legal or administrative order or levy.

Overdraft Privilege helps protect you against having your items returned in the event of an inadvertent overdraft of your account by giving you a reserve for emergencies or unexpected situations. There is no fee for having this privilege on your account; you are only charged if you overdraw your account. You do not have Overdraft Privilege on your account until you receive written confirmation from us that it has been added to your account. Overdraft Privilege is not a line of credit. However, if you overdraw your account, we will normally pay the overdraft, subject to the limit of your Overdraft Privilege. When you use your Overdraft Privilege your must remember to subtract the overdraft fee from your account balance.

Points to Remember about Overdraft Privilege

  • Every debit item on an overdrawn account will be charged an NSF fee of $35.00.
  • You must promptly repay the amount of the overdraft and any overdraft fees.
  • Your Overdraft Privilege will not be included as part of your available balance at an ATM.
  • You must bring your account to a positive balance within 30 days or the Overdraft Privilege will be removed from your account.
  • You do not have Overdraft Privilege until you receive a letter telling you that it has been put on your account.

Overdraft Privilege Terms and Conditions

You must maintain you account in good standing, which includes at least:
  • Continuing to make regular deposits to your account within each thirty (30) day period.
  • Bringing your account balance to a positive balance within each thirty (30) day period.
  • You are not in default on any loan or other obligation to Engagement Client; and
  • You are not subject to any legal or administrative order or levy against your account with us

Helpful Websites

National Foundation for Credit Counseling - En Español
This is the home site for the National Foundation for Credit Counseling, a national non-profit network of 1,450 Member agencies designed to provide assistance to people dealing with stressful financial situations. The site provides likes and information for financial counseling, debt planner tools, and other helpful websites.

What You Need To Know about Overdrafts and Overdraft Fees

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:
  1. We have standard overdraft practices that come with your account.
  2. We also offer overdraft protection plans, such as a link to another account or a line of credit, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
This notice explains our standard overdraft practices. 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 will not authorize and pay overdrafts for the following types of transactions without your consent.
  • ATM transactions
  • Everyday 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 Bar-Cons FCU pays my overdraft?

Under our standard overdraft practices:
  • We will charge you a fee of up to $35.00 each time we pay an overdraft
  • There is no limit per day on the total fees we can charge you for overdrawing your account
What if I want Bar-Cons FCU 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, call 812-372-8776, email Info@barcons.org, or complete an online ATM & Debit Card Transaction Authorization Form, or print it out and and present it at a branch, or mail it to: 1142 N Marr Road, Columbus, IN 47201.

You can revoke your authorization for Bar-Cons FCU to pay these overdrafts by any of the methods above. Your revocation must include both your name and your account number so that we can properly identify your account.

Download ATM & Debit Card Transaction Authorization Form