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Overdraft Services

Overdraft Privilege Disclosure

We encourage you to manage your finances responsibly and not intentionally overdraw your account; however, we realize that financial shortfalls happen, and we offer overdraft services to ensure that your eligible items get paid. We can cover your overdrafts in different ways:

1. We have standard overdraft practices that come with your account ("Overdraft Privilege").

2. We also offer overdraft protection plans, such as a link to your savings account or line of credit ("Overdraft Protection").

You Have Options

Overdraft Privilege is one of three overdraft protection options and we encourage you to review all three before making decisions to opt in or out of these services. You are not required to use any of our overdraft services. Payment of your overdraft items is at our discretion and we reserve the right not to pay even though we may have previously paid overdrafts for you. For example, we typically do not pay overdrafts if your account is not in good standing, if you are not making regular deposits, or if you use the service irresponsibly. We may automatically grant you our standard practices after 30 days of account opening. You may also opt to secure one of the alternative services described below.

Standard Overdraft Coverage ("Overdraft Privilege")

Overdraft Privilege may be automatically granted to checking accountholders 30 days after the account is opened. Our standard practices that come with any regular checking account can be used to cover your checks and other transactions made using your checking account number; individually authorized and recurring ACH transactions; and select SRP Online and SRP Mobile transactions such as POP money transfers and online bill payments. Each item covered is assessed a fee. In addition to Overdraft Privilege, you may also authorize debit card overdraft coverage. With this coverage, we will also pay ATM transactions and everyday debit card transactions using your overdraft limit. Each item covered is assessed a fee. Your checking account will be overdrawn by the amount that you exceeded your balance plus our Overdraft Privilege Fee of up to $35.00 for each item paid. If the item is returned, a Non-sufficient Funds Fee of $35.00 (per item) will be applied. You must bring your account to a positive end-of-day balance at least once every 30 calendar days (including the payment of all Credit Union fees and charges) of the overdraft. If you do not want to have our standard overdraft practices using Overdraft Privilege to cover the transaction types listed above, visit one of our branches, contact us at 1-800-237-9829, or send us a secure message through SRP Online or SRP Mobile to remove this benefit from your account. There is no fee to Opt In or Opt Out. You may Opt Out of Overdraft Privilege at any time, but you are responsible for any overdrawn balances at the time of opting out.

Linked Account Transfer ("Overdraft Protection")

If you have other transaction accounts with SRP Federal Credit Union, you can authorize us to set up an automatic transfer to move the funds needed to cover your overdraft using our Overdraft Protection plan. An Overdraft Protection Transfer Fee of $2.00 will be assessed each time a transfer is triggered. The fee is imposed for overdrafts created by checks, in person withdrawals, ATM withdrawals or by other electronic means. You may designate up to three qualified transaction accounts to serve as overdraft protection.

NOTE ON LINKED ACCOUNTS: If you elect to link several accounts to the Credit Union’s Overdraft Protection Program then the fees addressed herein may apply to a linked account that does not have a sufficient Available Balance to cover your transactions.

Linked Line of Credit Transfer ("Overdraft Protection")

You may qualify for a line of credit that may be accessed to cover overdrafts. This service requires you to complete an application and approval is based on your credit worthiness. Visit one of our branches, contact us at 1-800-237-9829, or send us a secure message through SRP Online or SRP Mobile for applicable terms and conditions. Draws on your line of credit are a loan advance and are subject to interest charges and the terms of the loan agreement. There are no overdraft fees per transfer for this service.

Understanding Your Account Balance for Overdrafts

Your checking account has two kinds of balances: the “Current Balance” and the “Available Balance”. Each Overdraft Privilege Fee is assessed on the amount of the negative Available Balance change after the item is posted. If the negative Available Balance change is:

Less than/equal to $4.99

$ 2.00/paid item

Between $5.00 and $9.99

$10.00/paid item

Between $10.00 and $19.99

$20.00/paid item

Between $20.00 and $29.99

$30.00/paid item

Greater than/equal to $30.00

$35.00/paid item


For example, if your Available Balance is $27.00 and you authorize a $30.00 item, your Available Balance change will be -$3.00. This results in a negative balance change of $3.00, and you will be charged a fee based on this balance change, not the item. You can review your balance information when viewing your account online at SRP Online, on your access device using SRP Mobile, by calling TYME Line, or by visiting an SRP FCU ATM or branch location. Learn more about your account balances and monitoring your account by visiting our Overdraft FAQ page.

Merchant Authorizations Reduce Your Available Balance

We post debit card authorizations and settlements from merchants as we receive them, and we cannot control when we receive them. Please also note that some merchants may submit authorizations for more than the settlement amounts. Learn more about authorization holds by visiting our Overdraft FAQ page.

For More Details

Please read our Overdraft Privilege Disclosure for more information. If you have questions about our Overdraft Services, please contact us at 1-800-237-9829 or 803-278-4851 and select the Member Services option or stop by any of our branch locations to speak with a representative.