Overdraft Protection

An overdraft occurs when you do not have sufficient available funds (Available Balance) in your account to cover a transaction, but we pay it, anyway, for a fee. 

Under our standard overdraft practices, we will charge you a fee of up to $32 each time we pay an overdraft. There is no limit on the total fees we can charge you for overdrawing your account.

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.

Overdraft Privilege may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within thirty-two (32) days for a minimum of one business day.

Important information regarding overdrafts is located in the Membership Agreement and Deposit Account Terms & Conditions.

Elements authorizes and pays overdrafts from checks and automatic bill payments. We will charge you a fee of up to $32 each time we pay an overdraft. To avoid overdraft fees, you can set up an auto-transfer of money from one of your Elements accounts to the other to match the exact amount of your overdraft. 

How to Set Up Auto-Transfer for Overdrafts

Elements does not authorize and pay overdrafts for ATM transactions and everyday debit card transactions unless you ask us to by signing up for Overdraft Privilege Extended Coverage. 

Learn More about Extended Coverage

If you have an Elements Student Edge Checking account, you will never be assessed an overdraft fee—a helpful feature for students learning how to manage their money.

This easy solution allows you to borrow from yourself as needed. You simply link your Elements checking or savings account to another Elements deposit account, and money automatically transfers to match the exact amount of your overdraft. There is no charge for these transfers.

Contact Elements at 1-800-621-2105 for assistance with linking your accounts.

Auto-transfer covers overdrafts from checks and automated bill payments; it does not cover overdrafts due to ATM or debit card transactions. For coverage of ATM and everyday debit card transactions, considering signing up for Extended Coverage with Overdraft Privilege.

Learn More about Extended Coverage

You can establish an Elements EZ Line of Credit to have money set aside for unexpected expenses, such as an overdraft. Once the money is transferred away from the EZ Line of Credit, you have a monthly payment of $25 or 3% of the outstanding balance whichever is greater. Money automatically transfers from your EZ Line of Credit to match the exact amount of your checking account overdraft. Your credit line can be between $500 and $3,500, and your overdraft coverage would be up to the limit you have established. You don’t pay interest on a line of credit until or if you take money from it, so this can act as a good safety net for those unexpected expenses.

There is no fee for the advance from an EZ Line of Credit, but interest is charged on the outstanding balance.

To get started, contact Elements at 1-800-621-2105 to apply for the EZ Line of Credit and connect the line of credit with your checking account to establish overdraft protection.

Learn More about EZ Line of Credit

Overdraft Privilege Extended Coverage covers overdrafts from checks and automated bill payments, plus ATM and everyday debit card transactions. This comprehensive coverage allows you to proceed with ATM and debit card transactions that overdraw your account up to the disclosed limit in order to pay a transaction. Without the Extended Coverage, your ATM and debit card transactions would be declined if you don’t have sufficient funds in your account.

A $32 fee applies each time you use this service.

You must let us know if you wish to have Extended Coverage. Sign up online, visit a branch, or call us at 1-800-621-2105.

Sign Up for Extended Coverage