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You've taken your car in for repairs. The mechanic wants $200, but you only have $150 in your checking account. Relax! You won't have to walk home. At TCU, we've got you covered.
Faced with an unexpected expense? With Debit Assurance, your debit card purchase will be approved even if the balance in your TCU account falls a little short. How do you go about acquiring this kind of peace of mind? There are three easy ways:
Why would I want to opt in to Debit Assurance and what happens if I opt out?
Choosing Debit Assurance gives you peace of mind that your debit card purchases and ATM withdrawals will be approved (up to a certain limit) even if your account falls below a specific purchase or ATM withdraw amount. For instance, if you have $123 in your account and you're about to swipe your debit card for $200 at the grocery store, your purchase will be approved if you're opted in to Debit Assurance. If you opt out, your grocery purchase will be declined.
If I opted in to Debit Assurance but now want to opt out (or I opted out and wish to opt in) what steps do I need to take?
Once you’ve opted in to Debit Assurance, you can opt out (or back in) at any time. Simply change your Opt In/Out preference by logging into TCU Online Banking and completing the following:
If I opt in/out, when will my Debit Assurance preferences go into effect?
Your Opt In/Out preference will go into effect within three business days.
What fees are associated with opting in to Debit Assurance?
If a debit card purchase or ATM withdrawal is authorized after opting in to Debit Assurance, a fee will be assessed on your account. Additionally, a fee will be assessed for each subsequent purchase that overdraws your account further. See TCU Debit Mastercard® and Debit Assurance terms and conditions for details.
When a purchase or ATM withdrawal is authorized and covered by Debit Assurance, will I be charged a fee if I make a deposit or transfer funds from another TCU account before that purchase clears my account?
If your checking account balance is not overdrawn when all items clear your account, no fee will be applied to your account. If your checking account is overdrawn when all items clear your account, fees will be charged according to the TCU Terms and Conditions and Fee Schedule.
What types of purchases are covered by Debit Assurance?
All TCU Debit Mastercard® purchases and ATM withdrawals, whether you enter your PIN or sign your name, will be covered by Debit Assurance when they are within the overdraft limits. Debit Assurance will not cover purchases made by check, ACH, recurring debit card transactions or transactions that will overdraw your account more than $500. Please Note: Debit Assurance is not available on TCU Business Accounts.
If a purchase is covered by Debit Assurance, how will I know?
If a debit card purchase or ATM withdrawal is covered by Debit Assurance, you will receive an overdraft notification by mail (or via eDocuments in Online Banking) indicating the purchase was covered. However, as noted above, you will still be liable for any overdraft fees assessed to your account. You can stay informed on your account balances via TCU Online and Mobile Banking. Additionally, you can set up low-balance text alerts to notify you if your account falls below a specific amount.
Do I need to opt in for Debit Assurance if I set up overdraft protection from my TCU savings accounts or line of credit accounts?
Opting in for Debit Assurance provides protection for purchases/ATM withdrawals with your TCU Debit Mastercard®. Overdraft Protection will automatically transfer money to your checking to reduce or eliminate the amount of the overdraft. If you want to ensure that both Debit Mastercard, check, ATM withdrawals and ACH transactions are all covered, you should take advantage of both services.
If I have more than one checking account, do I need to opt in/out for each of them?
Yes, you will need to opt in/out of Debit Assurance for each one individually. This gives you the flexibility of choosing which account(s) you want Debit Assurance to apply, and which ones you don’t. Opting in or out is as easy as logging in to TCU Online Banking or visiting your nearest service center.
If my Debit Mastercard® expires or is replaced, do I need to opt in/out my new debit card?
No, your Debit Assurance opt in/out preference will carry over to your new TCU Debit Mastercard®.
If I have further questions about Debit Assurance or any purchases that were or were not authorized by Debit Assurance, what can I do?
We are here to help! If you have any questions regarding TCU Debit Assurance, please contact our Member Call Center at (800) 552-4745 or visit tcunet.com/locations to locate your nearest TCU service center.
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