Author: Elaine Murray
Last saved by: Ken Schworm

Taleis Credit Union Overdraft Protection Disclosure
WHAT ARE ONE-TIME POINT OF SALE (POS) DEBIT CARD TRANSACTIONS?
One-Time Point of Sale (POS) Debit Card Transactions would include those transactions conducted at the point of sale. Point of sale transactions are usually performed at a store or business when you use your debit card to make a purchase.  It is also performed when making a purchase online, or by telephone, using your debit card.
WHAT IS AN OVERDRAFT? 
An overdraft occurs when you attempt to make a purchase or payment transaction and you do not have enough funds available in your account to pay for that purchase.
WHAT ARE MY OPTIONS FOR OVERDRAFT PROTECTION FOR ONE-TIME POINT OF SALE (POS) DEBIT CARD TRANSACTIONS?
Taleris Credit Union will not pay for One-Time POS Debit Card transactions if there are insufficient funds in your account to cover your purchase. In other words, the transaction will be declined at the point of sale. 

OPTING IN: By selecting to “OPT IN” to have overdraft protection on One-Time POS Debit Card transactions, your purchase will not be declined at point of sale. However, you will be charged a fee for the overdraft in addition to any overdrawn balance in your account. (See Taleris Schedule of Service Charges)

WHAT ARE MY OPTIONS FOR OVERDRAFT PROTECTION FOR MY CHECKING ACCOUNT?
Taleris Credit Union offers two services that can protect you in the event of an overdraft situation if your accounts qualify. 
1.	Member Balance Guardian: A standard overdraft program where an overdraft privilege limit is automatically assigned to your Checking Account after thirty (30) days.  A service fee will apply if this service is utilized. Your Member Balance Guardian limit will not be reflected in your balance provided by a Member Services Representative, at the ATM, through Audio Account Access, or Teller 24e.
2.	Automatic Transfer: Funds automatically transfer from your savings account(s) to pay for the transaction. A service fee will also apply if this service is utilized. 
WHAT TYPES OF TRANSACTIONS WILL TALERIS PAY IF I HAVE OVERDRAFT PROTECTION?
•	Checks and other transactions made using your checking account number (with Member Balance Guardian or Automatic Transfer) 
•	Automatic bill payments (with Member Balance Guardian or Automatic Transfer)
•	Point of Sale (POS) debit card transactions (with OPT IN – see above)

We do not authorize and pay overdrafts for:
•	Accounts that do not qualify or are not set up for overdraft protection
•	ATM transactions
•	Point of sale (POS) transactions unless you have OPTED IN (see above)

WHAT IF I WANT TO CANCEL ANY OF THESE OVERDRAFT SERVICES?
You may “Opt out” of any of these services at any time by contacting Taleris Member Services at (216) 739-2300 Ext 1610.  However, you are responsible for any overdrawn balances at the time of opting out. 

Please note, if your account is overdrawn for 5 or more consecutive business days, you may be subject to additional charges of five dollars ($5.00) per day. There is no limit on the total fees Taleris can charge you for overdrawing your account. Taleris will pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If Taleris does not authorize and pay an overdraft, your transaction will be declined.

MS0.107   3/30/16