Top Ten Ways to Avoid Overdraft on Your Account

Pioneer Valley Credit Union offers a variety of Checking Account options so you can choose the product that best suits your financial situation. From Free Checking, to Cash Back Rewards Checking to earning more with your money with Investor Rewards Checking. Get your checking, your way! Get free checks for life, overdraft protection options and ATM fee rebates from thousands of ATMs across the nation. Learn more about the many options you have when you open a Checking Account with Pioneer Valley Credit Union.

Overdraft protection is an extra support system for your Checking Account that can save you from costs associated with insufficient balances. Don't pay extra fees because of bad timing. Pioneer Valley Credit Union offers solutions for situations like these!

1. Free Digital Alerts
   To avoid fees, set up digital signals such as texting or email alerts to notify you of an account balance threshold, such as totals on your accounts that are under $50. It is also possible to have these alerts notify you of transactions over a certain amount, such as purchases made over $100. This may help to lower your chances of reaching insufficient funds by mistake.
2. Automatic Transfer
   Your Checking Account can be set up to automatically transfer funds from your Primary Savings Account to your Checking Account in the event there is not enough money to cover a transaction.
3. Overdraft Line of Credit
   Overdraft Line of Credit* automatically funds your Checking Account to help you avoid costly overdraft charges. We will cover you up to $3,500 to avoid a bounced check or a declined debit card transaction. The Overdraft Line of Credit is a loan you must apply and qualify for, which funds your Checking Account as needed.
4. Eagle Line of Credit
   The Pioneer Valley Credit Union Eagle Line of Credit can get you the cash that you need, when you need it, at your convenience. This Personal Line of Credit works similarly to an Overdraft Line of Credit, with the coverage of up to $25,000, a much higher borrowing limit!
5. Merit Privilege Pay
   Pioneer Valley Credit Union offers Merit Privilege Payª to automatically cover overdrafts from ATM withdrawals and debit/check transactions up to $1,000. Members must Opt In to receive coverage on ATM and debit card transactions with Merit Privilege Pay.
6. Regularly view your account statements and check your CU on the Go Mobile App¹
   Fraud and security specialists recommend reviewing your account statements often to quickly find discrepancies in your accounts in order to help protect you from scammers. It is also good to have an idea of what is in your accounts to minimize the chance of accidental overdrafts on your accounts. Download our CU on the GO! Mobile App to conveniently view your accounts from your mobile phone!
7. Get budgeting advice from a trained professional
   Know your personal budget cash flows. What is coming in and out of your accounts? Are your monthly subscriptions outweighing your income? Are you paying down debt, or accumulating too much debt? Don’t jump to conclusions and cancel your credit card just yet, as this can negatively impact your credit score. Speak with a trained professional to help you better understand your budget. Pioneer Valley Credit Union offers Virtual Appointments to meet with our team of Financial Coaches.
8. Set reminders to notify you before automatic withdrawals occur
   It is convenient to have expenses such as gym memberships, streaming apps and loan payments set on an automatic transfer. By utilizing the calendar app on your mobile phone, you can set reminders to alert you a few days before automatic withdrawals occur. This way, if your account does not have enough funds to cover the withdrawal, you have enough time to transfer funds to the proper accounts.
9. Set up Direct Deposit
   Get paid a day early² by utilizing our direct deposit service! By setting up Direct Deposit with your employer to your Pioneer Valley Credit Union Checking Account, you do not have to rush to our lobbies on pay day. Your paycheck will automatically go into your designated account, minimizing the chance of overdraft on automated withdrawals.
10. Open an Emergency Fund Account with us online, in person or over the phone
    It is recommended to have three to six months of earnings saved for emergencies. Pioneer Valley Credit Union offers Emergency Fund Accounts for members to become self-reliant and ensure financial security if the unexpected occurs. Don’t rely on credit alone, designate a certain sum of your payroll to your Emergency Fund Account. Set it and forget it with payroll deduction so you don’t have to worry about transferring funds each week!

*There is no charge for this service if you do not use it. You will be charged our normal insufficient fund fee of $29 for each item that is presented, and you must bring your account to a positive balance within 45 days. We will not pay overdrafts on your ATM and everyday debit card transactions unless you ask us. If you do not ask us, the transaction will not be paid. Categories of transactions for which a fee for paying an overdraft may be imposed include ATM withdrawals and debit/check transactions up to $1,000. Not all will qualify.

ªMerit Pay Disclosure

¹Data rates may apply

²This service only applies to employers that release their payroll file a day early.