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Extended Overdraft Privilege

Life happens! Topside Federal Credit Union understands that unexpected overdrafts occur from time to time – Overdraft Coverage can help.
The choice is yours. Consider these ways to cover overdrafts:
  • Overdraft Protection Link to Another Deposit Account you have at Topside Federal Credit Union ($7.50 fee per transfer.)
  • Overdraft Protection Link to a Cash Advance on your Topside Federal Credit Union credit card ($7.50 fee + interest; Subject to credit approval)
  • Overdraft Protection Line of Credit ($7.50 fee + interest; Subject to credit approval) • Overdraft Privilege ($32.00 Overdraft Fee per item).
OVERDRAFT PROTECTION SERVICES apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account, cash advance, or line of credit you may have at Topside Federal Credit Union for a fee or finance charge. Please note that cash advances and overdraft lines of credit are subject to credit approval. Call us at 1 (540) 663-2181, email us at, or come by a branch to sign up or apply for these services.

OVERDRAFT PRIVILEGE allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Even if you have overdraft protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. You currently have STANDARD Overdraft Privilege Coverage in the amount of $750 on your CHECKING account. Standard Coverage includes checks, ACH (automatic debits), recurring debit card transactions, teller transactions, and telephone and internet banking transactions. If you have a consumer account, you have the option to request “Extended Coverage”, which includes all of the transactions listed above and ATM and everyday debit card transactions. Both consumer and business accounts can discontinue the Overdraft Privilege in its entirety by contacting us at 1 (540) 663- 2181 or sending us an e-mail at
What Else You Should Know
Options for Covering Unexpected Overdrafts
  • A link to another account or a line of credit may be a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our mobile banking, Internet banking, and telephone banking services to keep track of your balance. For additional financial education resources, please visit
  • The ($32.00) Overdraft Fee is the same fee amount that is charged if a check is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft Fee or a Return Fee of ($32.00). All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn in excess of the Overdraft Privilege limit amount as a result of a fee. • For consumer accounts, there is a limit of 5 Overdraft Fees ($160.00) per day we will charge. These exceptions do not apply to business accounts.
  • We generally post items in the following order: 1. Credits,2. ATM & Debit card transactions (in the order received), 3. ACH Debits (Low to High) and 4. Checks (Low to High). However, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies. Holds on funds (described below) and the order in which transactions are posted may impact the total amount of Overdraft Fees or Return Fees assessed.
  • Although under payment system rules, Topside Federal Credit Union may be obligated to pay some unauthorized debit card transactions, Topside Federal Credit Union will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions and any fee(s).
  • Giving us your consent to pay every day debit card and ATM overdrafts on your consumer account may result in you incurring Overdraft Fees for transactions that we would otherwise be required to pay without assessing an Overdraft Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may also help you avoid overdrafts in excess of your available balance that could result in suspension of your debit card.
  • Topside Federal Credit Union authorizes and pays transactions using the available balance in your account. Topside Federal Credit Union may place a hold on deposited funds in accordance with our Deposit Account Agreement and Disclosure, which will reduce the amount in your available balance. The available balance for checks, ACH items, and recurring debit card transactions is comprised of the ledger balance, less any holds on deposited funds and any debit card holds, plus the amount of the Overdraft Privilege limit and any available overdraft protection. The available balance for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance, less any holds on deposited funds and any debit card holds, plus any available overdraft protection, but does NOT include the Overdraft Privilege Limit. For accounts with Extended Coverage, the Overdraft Privilege Limit is included in the available balance for authorizing ATM and everyday debit card transactions. If the funds in the available balance are not sufficient to cover a transaction, any available overdraft protection and/or the amount of the Overdraft Privilege limit may be used to authorize and pay a transaction.
  • Please be aware that the Overdraft Privilege amount is not included in your available balance provided through online banking, mobile banking or Topside Federal Credit Union’s ATMs.
  • A merchant will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends, the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Overdraft Fee may be assessed.
  • Except as described in this letter, Topside Federal Credit Union will not pay items if your account does not contain available funds (including the Overdraft Privilege limit) to cover the item(s) and the amount of any fee(s).
  • Topside Federal Credit Union may suspend your debit card if you incur overdrafts in excess of the available balance in your account, including any Overdraft Privilege limit (as described in this letter). Debit cards on your account will remain suspended until you make sufficient deposits so that your available balance, taking into account any Overdraft Privilege limit, is positive and then you contact us.
  • Topside Federal Credit Union may also suspend your debit card if your account is overdrawn more than thirty-Seven (37) consecutive calendar days. Debit cards on your account will remain suspended until you make sufficient deposits so that your account balance is positive.
  • Topside Federal Credit Union may also suspend your debit card if we are unable to contact you due to an incorrect mailing address or phone number(s). You must contact us with your correct mailing address and/or phone number(s) to have your debit card reinstated.
  • If your debit card is suspended, you will be unable to use your debit card for purchases or to access your account at the ATM, and if you use your debit card for recurring payments, e.g., utilities, you are responsible to make other arrangements for your recurring debit payment(s). 
  • Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
  • 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-Seven (37) days for a minimum of one business day. You must bring your account balance positive for at least one business day to have Overdraft Privilege reinstated.
  • Deposit or and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account Agreement and Disclosure. The total (negative) balance, including all fees and charges, is due and payable upon demand.
If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at 1 (540) 663-2181 or visit a branch.