At some banks and credit unions, overdrawing your account can result in bounced checks and hefty charges. We understand that emergencies and miscalculations happen. That's why we offer a range of options that help you set things right without costing you a lot of money.
To err is human. To forgive is the way we do business.
Transfer from Savings
A quick, easy fix for those times when your balance is zero
- Simply log in to Online Banking to transfer money from your savings account when your checking balance falls below zero
- No fee for transferring funds
- Contact us to link your savings account to your checking
Overdraft Line of Credit
It's a lot like having a credit card linked to your account
- No fees for transfers, but you pay interest on line of credit balances
- No interest will be charged if balances are paid off the same day as transfers occur
- Request to have funds moved to your checking account whenever your balance runs low
Privilege Pay
For a small fee, temporarily allow your balance to go below zero
- Covers overdrafts from checks you write, and one-time/recurring transactions (such as a monthly gym membership or online subscriptions), and scheduled automatic withdrawals from your checking account (such as utility or insurance payments)
- Your checking account is automatically enrolled in Privilege Pay as long as it meets certain requirements (a minimum of $200 must be direct deposited into your account, per month in order to qualify for privilege pay)
- If you are eligible, you may elect to have Privilege Pay cover your everyday debit card purchases (one time debit card purchases). However, you must opt in for this additional coverage
- There's a $32 fee for each item handled in this manner, with a maximum daily charge of $224
- You are expected to repay the money we advanced in a reasonable period of time (no more than 25 to 30 days later)
- Privilege Pay is a courtesy that we extend to you, offered at our discretion (there is a limit to how much Privilege Pay will cover)
- If you choose not to use overdraft protection, your transaction/check will be declined if you do not have sufficient funds in your checking account
- View Terms and Conditions for Privilege Pay
Andrews Federal Credit Union is a full-service financial institution with stateside locations in Washington, D.C., Maryland, Virginia and New Jersey and overseas locations in Germany, Belgium and the Netherlands.