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Personal | Business
VACU provides an option for members who would like to avoid declined ATM and everyday debit card transactions. Everyday debit card transactions are routine day-to-day transactions such as paying for groceries.
If you would like for VACU to pay overdrafts on these types of transactions at our discretion, you will need to tell us by opting in. This information describes our standard overdraft practices: What You Need to Know about Overdrafts and Overdraft Fees.
If you do want VACU to pay overdrafts on ATM and everyday debit card transactions, get started below. Or you can log on to online banking, click the Membership Services tab, and use the easy Debit Card & ATM Overdraft Authorization that pre-fills your account information.
If you do NOT want VACU to pay overdrafts on ATM and everyday debit card transactions, no action on your part is needed. If you have questions, please review our FAQs or contact Member Services at 804-323-6800 or 800-285-6609 for personal assistance.
“Opting in” means you are authorizing VACU to approve and pay overdrafts and assess overdraft fees on ATM and everyday debit card transactions.
There is no fee if you don’t exceed your available balance. Please see our Fee Disclosure.
Whether a transaction will be paid is at the discretion of the credit union and we cannot guarantee that we will always authorize and pay a transaction. We reserve the right not to pay an item depending on factors such as your account history. Online and mobile Banking are great ways to keep tabs on your accounts and reduce the risk of overdrafts.
Overdraft Protection is available through automatic overdraft transfers from accounts you designate, such as savings or a line of credit. The fee for an automatic overdraft transfer is less than an overdraft fee.
Overdraft Protection transfers occur first.
When members sign up for Overdraft Protection, they are authorizing VACU to automatically transfer funds from their savings account(s) or line of credit if their checking account does not have sufficient funds for a transaction. When members opt in for VACU to pay ATM and debit card overdrafts, they are authorizing VACU to consider taking their account negative and to charge an overdraft fee. Even if you already have Overdraft Protection, as a backup, you may also wish to opt in for VACU to pay ATM and debit card overdrafts.
No, they are not. Overdrafts on debit card transactions you have set up for recurring payments may be approved and overdraft fees assessed at our discretion, even if you don’t opt in for payment of ATM and everyday debit card transactions.
You can notify us in one of the following ways:
Yes. The authorization covers all account owners on that account.
We will mail you a confirmation letter once your request has been processed. Please allow 3 business days for your request to be in effect.
Yes, you may. Please allow 3 business days for your request to be in effect.