1440 Rosecrans Avenue, Manhattan Beach, CA 90266
800.854.9846 | kinecta.org
Fed Opt-in Notice
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What You Need to Know about Overdrafts and Overdraft Fees
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. We have standard overdraft practices that come with your account.
2. We also offer 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.
This notice explains our standard overdraft practices, including our optional Select Accept coverage
for everyday debit card transactions.
What are the standard overdraft practices that come with my 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
• Everyday debit card transactions
lease note, 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 Kinecta Federal Credit Union pays my overdraft?
Under our standard overdraft practices:
• We will charge you a
fee of up to $30 each time we pay an overdraft.
• We will not charge you a fee if your account is overdrawn by $5 or less on any given day.
• There is a 3 per day limit on the total fees we can charge you for overdrawing your account.
What if I want Kinecta Federal Credit Union to authorize and pay overdrafts on my everyday
debit card transactions?
If you also want us to authorize and pay overdrafts on everyday debit card transactions, call
800.854.9846, visit www.kinecta.org, or complete the Select Accept Consent Form and present it at a
Kinecta branch or mail it to:
Kinecta Federal Credit Union
P.O. Box 10003
Manhattan Beach, CA 90267