how to avoid fees

Avoid Overdraft & NSF Fees

• Balance your checking register regularly. Use our balancing form or an Excel spreadsheet. Immediately subtract any checks, debit card, or electronic deductions, and other withdrawals from your register.
• Use online banking, our app, or phone banking to keep tabs on your account. In online banking, sign up for balance alerts to your email or mobile phone.
• Sign up for Overdraft Protection from a CFCU savings, credit card, or a line of credit. 
• Be aware of holds for pending debit card transactions. If you use a debit card, stay alert to pending transactions which reduce your available balance. 

In the screenshot below, you can see how the 'Balance' and 'Available Balance' is different. 

• Your actual balance is the total amount of money that is currently in your account, including any pending transactions (e.g., debit card purchases that have not cleared).
• Your available balance is the total amount of money in your account that you can use for purchases and withdrawals, as it excludes pending transactions and check holds from your account balance. However, the available balance will not show checks that haven’t been cashed or deposits which haven’t posted.

You should always use the available balance to determine how much money you have available for purchases and withdrawals. Otherwise you might overdraw your account if you spend based on your account balance and it is higher than your available balance.

Avoid Courtesy Pay/Reg-E Fees

Circle Federal Credit Union offers Courtesy Pay to cover account overdrafts. An overdraft occurs when you do not have enough money in your account to cover a transaction. Overdrafts are paid at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. Each individual check item can be presented up to two times, while an ACH item can be presented an unlimited amount of times, resulting in multiple NSF or Courtesy Pay fees. If we do not authorize and pay an overdraft, your transaction will be declined.

• If you currently have Reg-E Courtesy Pay and would like us to stop approving debit card transactions that would make your card go negative and incur a fee, you can also opt-out on this form.

Avoid ATM Fees

• Use Fee-Free ATM's near you. Look for "MasterCard", "Cirrus", "Privileged Status" and "Alliance One" Networks for ATM withdrawals and deposits. 
• Get cash back at the store when you use your debit card and PIN for purchases.
• Pay with your debit card to reduce the need for cash.

Avoid Savings Account Fees

• Maintain a $50 daily balance in your Savings Account.
• Enroll in e-Statements to reduce the $2/mailed paper statement fee that may reduce your Savings Account balance.
• Regularly view your balances, with online banking or our app, to ensure no withdrawals have taken your balance below $50.

Avoid Late Fees

• Make loan payments with an automatic transfer from your checking account.
• Use online banking, our app, or phone banking to to make loan and credit card payments anytime.
• Set up recurring payments through online banking.
• If you use the mail, always allow ample time for payments to reach us by the due date on your loan or credit card statement. Be sure to mail payments to the correct addresses.

Avoid Inactivity/Dormancy Fees

An inactivity/dormancy fee applies monthly to accounts that have no activity for more than one year.

• Consistently utilize your accounts.
• Set up reoccuring deposits into your Circle FCU Membership Savings Account.
• Take advantage of other credit union loan or deposit services.

Avoid Checking Account Fees

• Keep a minimum balance of $50 or more in your Checking Account at all times OR
• Have a debit card and be enrolled in e-statements.