A Small Price for Peace of Mind
Anyone can make a mistake. If a check, debit card purchase, automatic payment, ATM withdrawal or some other transaction brings your checking account to a negative balance, the result is an overdraft. The good news is Ripco Credit Union offers overdraft protection to ensure the money goes where it is supposed to go.
Both business checking accounts and personal checking accounts are eligible for overdraft services (except for the Fresh Start Checking Account and HSAs).
Avoid overdraft fees as well as bounced-check fees from merchants by using these overdraft protection services:
Transfer from Savings
We will transfer funds from your savings account to cover charges that would bring your checking account negative.
- Fee: $5.00 per transfer
Overdraft Protection Line of Credit (Kwik Cash)
We will transfer funds from your line of credit (Kwik Cash) to cover charges that would bring your checking account negative. To access this option, complete a loan application and meet the corresponding criteria.
- Fee: $5.00 per transfer, plus interest on the loan until it is paid in full
Qualified members can withdraw more than their account balance, up to a pre-approved limit, for a short period of time to cover unexpected emergencies. Ripco will pay the merchant for checks you’ve written, debit card transactions, and pre-authorized withdrawals that would result in a negative balance for your account.
- Fee: $30.00 per item
To set up overdraft protection on a new or existing account, contact Member Service. You can also opt in for Courtesy Pay for your debit card via online banking.