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What you need to know about Overdrafts and Overdraft Fees

ATM & Everyday Debit Card Transactions

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

  1. Our standard overdraft protection practices are included in your account.
  2. We also have overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

Please complete the below form to submit your opt-in or opt-out request for Debit Courtesy Pay.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with the account?

We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to:
  • ATM transactions
  • Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Abbott Laboratories Employees Credit Union (ALEC) pays my overdraft?

Under our standard overdraft practices:

  • See our ALEC Fee Schedule for current fees.
  • There is no limit on the total fees we can charge you for overdrawing your account.
What if I want ALEC to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdraft on ATM and everyday debit card transactions:

  • Complete the form and click on the Submit button for processing.

Debit Courtesy Pay Opt In Request

ALEC Account Types *
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Thank you for your request!

Your Debit Courtesy Pay request will be processed shortly.