An insufficient funds fee (sometimes referred to as a nonsufficient funds fee or NSF fee) can occur when a member simply does not have the available funds in their checking account to cover the entirety of the transaction they are trying to make, and as a result the credit union denies the transaction.
An uncollected funds fee can occur when there are pending credits to an account (like a personal check that has yet to clear), and a member tries to make a purchase that is larger than the member’s available balance. If the purchase amount is larger than their available funds the fee will be assessed, even if there are funds on deposit (which, when cleared would cause the account balance to exceed the purchase amount).
As the check has not cleared, the credit union cannot guarantee those funds. As a best practice, use your available funds as a guideline for writing checks and making purchases.
Our Courtesy Pay and Overdraft Line of Credit can help safeguard against any overdraft fees. Check your available balances on the go with online and mobile banking.
Haven’t signed up for Online Banking yet?
Bank easier with 24/7 access to all of your accounts! Make online transfers, access Bill Pay & eStatements, check and monitor your FICO score, set savings goals, manage your budget, and much more! Register today!