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If an account used for Overdraft Protection has reached its Regulation D limit, will overdraft requests be honored?

April 26, 2017account honored limit overdraft regulation requests Used

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If an account used for Overdraft Protection has reached its Regulation D limit, will overdraft requests be honored?

2 Answers

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No, if the Overdraft Protection account is a Savings Account or MMA. In that case, you will receive a notice by mail and incur an Insufficient Funds change for every overdraft attempted beyond your monthly limit. However, if the Overdraft Protection account is a Line-of-Credit loan (which is not affected by Regulation D) the overdraft will complete normally. To apply for a Line-of Credit loan, apply online or contact us.

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No, the request will not be completed if the Overdraft Protection account is a Savings Account or Club. In that case, you will receive a notice by mail and incur an Insufficient Funds charge for every overdraft attempted beyond your monthly limit. However, if the Overdraft Protection account is a Line-Of-Credit loan (which is not affected by Regulation D) the overdraft will complete normally. To apply for a Line-of Credit loan, Click here to complete an online application or e-mail applytoday@NARFEpremierFCU.org.