A Checking Account is an important part of your daily routine. It’s used for your morning cup of coffee, lunch with the boys, or even for a girl’s night out. Whatever you choose to use your money for, it’s important to have a Checking Account that’s right for you.
OE Federal believes that your Checking Account shouldn’t come at a cost and that it should be easy to access either online or through our Mobile App. And, if you’re somewhere and need money fast, you can get it at a Shared Branch location or at one of over 60,000 surcharge-free* ATMs.
Making your money work for you is key and OE Federal wants to see you financially succeed. With a Checking Account, it’s important to keep it up-to-date so that there is enough money in your account to cover your daily transactions.
We’ve Got You Covered
We have your Checking Account covered with both, Overdraft Protection and Courtesy Pay. But first, do you know what overdraft means? An overdraft occurs when you don’t have enough money in your account to cover a transaction, but we will pay it anyway.
Overdraft Protection and Courtesy Pay are great options to have on your Checking Account as they protect you if your balance goes in the negative. You must opt-in to both of these services so that your transactions, as well as ACH and checks, will not be denied if you do not have the funds in your account. You must request to be enrolled in these services.
Overdraft Protection is an automatic transfer in increments of $50.00 from your Savings Account or Visa Account. You are charged a $3.00 fee with each automatic transfer.
Courtesy Pay acts in a similar fashion by allowing your transactions to post. The difference between Overdraft Protection and Courtesy Pay is that with Overdraft Protection you are spending your own money. With Courtesy Pay, you have a limit of up to $300.00 and are charged a $25.00 fee with each overdraft.
What happens if you don’t have Overdraft Protection or Courtesy Pay? You could overdraft, your transactions could be declined, and/or result in additional fees. The amount overdrawn and fees will be deducted from your account the next time you make a deposit. This means less money in your account when you really need it. And who wants that?
We believe it’s important to understand money management, especially with your Checking Account. So, the best way to prevent overdrawing or bouncing checks is to monitor your account balance and opt-in to both Overdraft Protection and Courtesy Pay. It’s a good habit to check your account balance often to understand how much you’re spending on a daily, weekly, and monthly basis.
With OE Federal, you can check your Checking Account balance with our Online Banking, Mobile App, Phone Automated Teller (P.A.T.), or live 24/7 customer service.
If you don’t already have a Checking Account with OE Federal and are interested, call 800.877.4444 or visit a local branch.
*Surcharge-free transactions are available for debit and ATM card holders of participating credit unions.