What is
the "No
Worries"
Service
and how
does it
work?
In the
event
you
would
have
insufficient
funds in
your
account
to cover
an ATM
transaction
or
everyday
debit
card
transaction,
PCMCU
will
cover
the
overdraft
when you
Say Yes,
to NO
WORRIES,
and opt
in to
Reg E
Overdraft
Protection.
Here's a
little
background
on how
PCMCU
administers
it's
overdraft
program.
An
overdraft
occurs
when you
do not
have
enough
money in
your
account
to cover
a
transaction,
but the
credit
union
pays it
anyway.
The
transaction
can
either
be a
check,
electronic
draft, a
debit
card
purchase,
or even
an ATM
withdrawal.
Here is
what you
need to
know
about
overdrafts
and
overdraft
fees:
We do authorize and pay overdrafts for the following transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
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We will not authorize and pay overdrafts for the following types of transactions unless you Say Yes, to NO WORRIES:
- ATM transactions
- Everyday debit card transactions
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*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
at the
point of
sale.
This
means we
must
return
the item
to the
merchant,
person,
or place
who will
likely
charge
you a
fee.
What
fees
will I
be
charged
if PCM
Credit
Union
pays my
overdraft?
Under
our
standard
overdraft
practices:
~ We
will
charge
you an
unbelievably
low
overdraft
fee of
only $8
if your
account
is
overdrawn.
~ However, if funds are available in a savings or line of credit account,
a
minimal
$3
overdraft
transfer
fee will
be
charged.
What if
I want
PCMCU to
authorize
and pay
overdraft
on my
ATM and
everyday
debit
card
transaction?
If you
want us
to
authorize
and pay
overdrafts
on ATM
and
everyday
debit
card
transactions,
simply
"Say
Yes, to
No
Worries"
and
either
call
(920)
499-2831,
or email
PCMCU at
optin@pcmcu.com
to
respond.
Thank
You!
If we do
not hear
from you
regarding
your
overdraft
protection
option,
we must
assume
that you
do not
want
Overdraft
Protection
to cover
your ATM
and
everyday
debit
card
transactions
and this
service
will be
removed
effective
August
15,
2010.
So,
Why
would
you want
to Say
Yes, to
No
Worries?
~
You're
running
low on
gas and
don't
have any
cash in
your
wallet.
Pay at
the pump
with
your
debit
card and
you'll
be back
on the
road.
~
You're
at the
grocery
store
and
ready to
pay the
bill,
however
the
total is
more
than you
have on
hand.
Don't
worry,
simply
swipe
your
debit
card and
get
packing.
~ You forgot your child needed
money
for
camp.
It's ok,
just
stop at
the ATM
for cash
on the
way and
you'll
both be
happy
campers.
Although
you'll
incur
the
normal
overdraft
fee,
you'll
have gas
in your
car,
food on
the
table,
and be
the hero
in your
child's
eye.
This
recent
federal
government
regulation
change
requires
PCMCU to
obtain
your
consent
before
providing
overdraft
protection
on your
ATM and
everyday
debit
card
transactions.
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