What You Should Know
- 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 www.mymoney.gov.
- The $20 Overdraft Fee that is charged if you overdraw your account is the same fee amount that is charged if an item 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 $20. All fees and charges will be included as part of the Courtesy Overdraft Program limit amount. Your account may become overdrawn more than the Courtesy Overdraft Program limit amount because of a fee.
- If an item is returned because the available balance in your account is not sufficient to cover the item and the item is presented for payment again, Hawaiian Financial FCU will charge a Return Fee each time it returns the item because it exceeds the available balance in your account. If, on representment of the item, the available balance in your account is sufficient to cover the item Hawaiian Financial FCU may pay the item, and, if payment causes an overdraft, charge an Overdraft Fee.
- We generally post items in the following order: 1) ATM and debit card transactions (in the order received), 2) ACH debits (in the order received) 3) checks (low to high dollar amount); 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, Hawaiian Financial FCU may be obligated to pay some unauthorized debit card transactions, Hawaiian Financial FCU will not authorize debit card or ATM transactions unless your account’s available balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any fee(s).
- Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) 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 Courtesy Overdraft Program limit and may also help you avoid overdrafts in excess of your available balance that could result in suspension of your debit card. If you consent to Extended Coverage on your consumer account, it will remain on your account until it is otherwise withdrawn.
- Hawaiian Financial FCU authorizes and pays transactions using the available balance in your account. Hawaiian Financial FCU may place a hold on deposited funds in accordance with our Membership and Account Agreement, 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 Courtesy Overdraft Program 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 Courtesy Overdraft Program Limit. For accounts with Extended Coverage, the Courtesy Overdraft Program Limit is included in the available balance for authorizing ATM and everyday debit card transactions.
- Please be aware that the Courtesy Overdraft Program amount is not included in your available balance provided through online banking, mobile banking or Hawaiian Financial FCU’s ATMs.
- Hawaiian Financial FCU will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within three 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 herein, Hawaiian Financial FCU will not pay items if the available balance in your account (including the Courtesy Overdraft Program limit, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).
- Hawaiian Financial FCU may suspend your debit card if you incur overdrafts in excess of the available balance in your account, including any Courtesy Overdraft Program limit (as described herein). Debit cards on your account will remain suspended until you make sufficient deposits so that your available balance, taking into account any Courtesy Overdraft Program limit, is positive and then you contact us.
- Hawaiian Financial FCU may also suspend your debit card if your account is overdrawn more than 30 consecutive calendar days. Debit cards on your account will remain suspended until you make sufficient deposits so that your account balance is positive.
- Hawaiian Financial FCU 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(s) for purchases or to access your account(s) associated with the debit card(s) at the ATM while your debit card is suspended. 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).
- A Courtesy Overdraft Program limit of $500 will be granted to eligible Consumer Checking accounts opened at least 60 days in good standing at the time the accounts are evaluated.
- A Courtesy Overdraft Program limit of $500 will be granted to eligible Business Checking accounts opened at least 60 days in good standing at the time the accounts are evaluated.
- Courtesy Overdraft Program is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
- Courtesy Overdraft Program may be suspended 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 30 days for a minimum of one business day. You must bring your account balance positive for at least one business day to have the full Courtesy Overdraft Program limit reinstated.
- Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Membership and Account Agreement. The total (negative) balance, including all fees and charges, is due and payable upon demand.
If you have any questions about Overdraft Protection or Courtesy Overdraft Program, please call us at 808-832-8700 or visit a branch