What amount is covered by Overdraft Pay Advantage and is it guaranteed?

The amount RCU will cover with Overdraft Pay Advantage varies and is based on account standing and history. Typically, RCU will cover up to at least $100 for an Overdraft Pay Advantage transaction, but this is not guaranteed. If your account is not in good standing or you have not made regular deposits into your account, we may not be able to extend Overdraft Pay Advantage services to pay your transaction. RCU will consistently allow your account to go in the negative up to $25.00 without a fee depending on your selected OPA coverage, based on available balance. After initial $25.00, standard Overdraft Pay Advantage fees apply. The maximum amount RCU will cover for consumer accounts is $1,500 and for business accounts is $2,000.

Overdraft Pay Advantage can be used to pay your checks, automatic bill payments (such as Automatic Clearing House or recurring debit card transactions), and your everyday debit card transactions. When the service is used, an Overdraft Pay Advantage fee is charged (up to the maximum of 4 charges per day). After a transaction is paid, you’ll be asked to make a deposit to cover the negative balance in your account immediately, and no later than within 20 days.

Redwood Credit Union offers Members valuable products and services with no or low fees. For select products and services, some fees are assessed as a cost recovery. See our Cost Recovery Schedules for Personal Accounts and Business Accounts for details.