Protect your checking account
We’ve all forgotten about an automatic payment or miscalculated our budget – that’s life! We understand you have a lot to juggle and if you inadvertently overdraw your checking account or worry you don't have enough money to cover an unexpected expense, we’ve got you covered with several overdraft solutions.
Understanding overdrafts
An overdraft occurs when a financial institution allows you to spend more money than you have available in your checking account, rather than declining a transaction. At General Electric Credit Union, we offer three overdraft solutions to ensure your debit card transactions and payments are covered so you can get on with your day, worry-free.
Overdraft solutions
Find the combination of coverage that works for you.
Overdraft Protection Transfers1 |
Overdraft
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Courtesy Overdraft3 |
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|---|---|---|---|
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Eligible accounts |
Simply Free, Choice, and Amplified High-Yield Checking | Any GECU checking account | Any GECU checking account |
| Details | Automatically transfer funds to a checking account from a GECU savings or money market account, for free. | Upon approval, this options helps prevent overdrafts by automatically transferring funds to your checking account from your line of credit. | This option covers transactions (checks, ACH, and Bill Pay) when you don't have sufficient funds in your account. Opt-in to extended coverage and cover everyday debit card and ATM transactions. |
| Fees | $0 fee | $0 if the transfer is initiated in Online Banking or our mobile app2 in advance; otherwise, $2 per transfer (plus interest) | $32 overdraft fee per item |