Overdraft Protection and Overdraft Privilege

Why be just a member when you can be privileged? Overdraft Privilege is here for you!

Life happens! SeaComm understands that unexpected overdrafts occur from time to time - Overdraft Coverage can help.

Overdraft Coverage Options

The choice is yours. Consider these ways to cover overdrafts:

Service Cost
Overdraft Protection
(Link to Another Deposit Account you have at SeaComm)1
$10 fee per transfer
Overdraft Protection Line of Credit1,2 Subject to interest
Overdraft Privilege $25 Overdraft Fee per item
Overdraft Privilege

Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your share account from another account or line of credit you may have at SeaComm for a finance charge. Please note that overdraft lines of credit are subject to credit approval.

Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Even if you have Overdraft Protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Please review the "What Else You Should Know" section at the bottom of this page for other important information.

Transactions Covered with Overdraft Privilege Standard Coverage (No action required) Extended Coverage (Your consent required on accounts)*
Checks X X
ACH - Automatic Debits X X
Recurring Debit Card Transactions X X
Online Bill Pay Items X X
Teller Window Transactions X X
ATM Transactions X*
Everyday Debit Card Transactions X*

If you would like to select Extended Coverage for future transactions, call us at (800) 764-0566, visit any branch, complete our online consent form by clicking the link below or email us at odp@seacomm.org.

You can discontinue Overdraft Privilege in its entirety by contacting us at (800) 764-0566 or sending us an email at odp@seacomm.org.


  • A link to another account or a line of credit may be a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our mobile banking, internet banking, and telephone banking services to keep track of your balance. For additional financial education resources, please visit www.seacomm.org/tools.html.
  • The $25 that is charged if you overdraw your account $10 or more is the same fee amount that is charged if an item is returned as unpaid. If your account is overdrawn less than $10, the Overdraft Fee is $5. If the amount of an item on your account is less than $10, the Overdraft Fee is $5. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft Fee or a Return Item Fee of $25. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn more than the Overdraft Privilege limit amount because of a fee.
  • If an item is returned because the available balance in your account is not sufficient to cover the item and the item is presented for payment again, SeaComm FCU will charge a Return Item Fee each time it returns the item because it exceeds the available balance in your account. If, on representment of the item, the available balance in your account is sufficient to cover the item SeaComm FCU may pay the item, and, if payment causes an overdraft, charge an Overdraft Fee.
  • There is no limit on the total Overdraft Fees per day we will charge.
  • This describes the posting order for purposes of determining overdrafts. Our general policy is to post items throughout the day and to post ACH credits before debits. ATM, ACH, debit card transactions and paper checks are posted in the order in which the items are received; however, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies. Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of Overdraft Fees or Return Item Fees assessed.
  • Although under payment system rules, SeaComm FCU may be obligated to pay some unauthorized debit card transactions, SeaComm FCU will not authorize debit card or ATM transactions unless your account’s available balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any fee(s).
  • Giving us your consent to pay everyday debit card and ATM overdrafts on your account (Extended Coverage) may result in you incurring Overdraft Fees for transactions that we would otherwise be required to pay without assessing an Overdraft Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may also help you avoid overdrafts in excess of your available balance. If you consent to Extended Coverage on your account, it will remain on your account until it is otherwise withdrawn.
  • SeaComm FCU authorizes and pays transactions using the available balance in your account. SeaComm FCU may place a hold on deposited funds in accordance with our Membership and Account Agreement which will reduce the amount in your available balance. The available balance for checks, ACH items, and recurring debit card transactions is comprised of the ledger balance, less any holds on deposited funds and any debit card holds, plus the amount of the Overdraft Privilege limit and any available Overdraft Protection. The available balance for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance, less any holds on deposited funds and any debit card holds, plus any available Overdraft Protection, but does NOT include the Overdraft Privilege Limit. For accounts with Extended Coverage, the Overdraft Privilege Limit is included in the available balance for authorizing ATM and everyday debit card transactions.
  • Please be aware that the Overdraft Privilege amount is not included in your available balance provided through online banking, mobile banking or SeaComm FCU’s ATMs.
  • SeaComm FCU will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends, the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Overdraft Fee may be assessed.
  • Except as described herein, SeaComm FCU will not pay items if the available balance in your account (including the Overdraft Privilege limit, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).
  • New share draft accounts will receive a $100 Introductory Overdraft Privilege limit at account opening that will be increased up to $250, $500, or $750 based on eligibility after 30 days in good standing.
  • Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
  • Overdraft Privilege may be reduced or suspended if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within 32 days for a minimum of one business day. You must bring your account balance positive for at least one business day to have the full Overdraft Privilege limit reinstated.
  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Membership and Account Agreement. The total (negative) balance, including all fees and charges, is due and payable upon demand.

If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at (800) 764-0566 or visit a branch.

*If you choose Extended Coverage on your account, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Overdraft Privilege Extended Coverage, it is not necessary to request it again.

1Call us at (315) 764-0566, email us at odp@seacomm.org, or come by a branch to sign up or apply for these services.

2Subject to credit approval.