Did you know that Federal Regulation D (Reg D) limits the number of automatic transfers or withdrawals that can be made from a savings or money market account each month?

UNLIMITED TRANSACTIONS:

• Deposits
• Loan payments
• In person
• By mail
• At an ATM
• In branch

LIMITED TRANSACTIONS: (total of 6 per month)

Transfers and withdrawals between your accounts (excluding loan payments to Granite) made through:

• Preauthorized or automatic withdrawals
• Telephone or fax
• Online or mobile banking
• ACH or other automatic withdrawals to other Granite accounts or payments to third parties

SUGGESTIONS TO HELP YOU AVOID REG D LIMITS:

• Transfer a larger amount from savings to checking so transfers won’t be needed as often.
• Add Overdraft Protection (a line of credit) to your checking account.
• Keep more funds in your checking account instead of savings.
• Transfer funds while you’re at the ATM.
• Change/reauthorize withdrawals so they’re taken from checking rather than savings.

Let us know how you’d like us to handle overdraft ATM and Debit card transactions.

What You Need to Know about Overdrafts and Overdraft Fees

An overdraft occurs when there is not have enough money in an account to cover a transaction, but we pay it anyway. We can cover overdrafts in two different ways.

1. Standard overdraft protection plan offered on all accounts.
2. Overdraft protection plans, such as a link to a savings account, or an overdraft line of credit.  To learn more, ask us about these plans.

This notice explains standard overdraft protection.

What is covered by Standard Overdraft Protection?

We authorize and pay overdrafts for the following types of transactions:

• Checks and other transactions made using a checking account number
• Automatic bill payments

What is not covered by Standard Overdraft Protection?

Unless opted-in, the following types of transactions are not authorized and paid:

• ATM transactions
• Non-recurring debit card transactions

Overdrafts are paid at the discretion of the credit union, which means we do not guarantee to always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, the transaction will be declined.

What fees are charged if Granite Credit Union pays my overdraft?

Under standard overdraft practices:

• We charge up to $25.00 each time we pay an overdraft
• There is no limit on the total fees charged for overdrawing an account

*See Fee Disclosure for complete program details.