What is Enbright One Checking?
Enbright One checking is a no monthly fee, free account that offers you the flexibility of over drafting your account without being charged huge overdraft fees. Member transactions including, but not necessarily limited to: checks, atm, point of sale and ACH transactions will be paid up to a cumulative $100 credit limit.
How it Works
Once your direct deposit has been confirmed, you will be allocated a free $100 overdraft allowance to be used at your discretion. If funds are not available in your account to pay a charge, Enbright CU will first attempt to clear the charge by using any overdraft protection options established by the account holder(s), including automatic transfers from your savings.
If funds are not available via transfer from the member’s linked account(s), Enbright CU will pay the item(s) up to the available amount of overdraft (maximum of $100) with your free overdraft protection. If the item or items total more than $100, the items will be cleared in the order they are received up to the available Overdraft amount available (maximum of $100). Any transactions over the maximum Overdraft limit of $100 will be returned due to insufficient funds and an insufficient fund fee will be assessed. If and items does overdraft your account due to how the transaction is presented initially to Enbright CU and your account is overdrawn in excess of $100, the item will be paid as authorized, but a fee will be assessed to your account for exceeding the $100 limit. Any ATM or Point of Sale transactions that cause you go to over the $100 limit will be assessed an insufficient fund fee.
Fees and Notices
With Enbright One Checking, your items will be paid up to $100 (taking your account negative, up to $100) and not returned to the merchant. Any item/transaction that takes your account over the $100 overdraft coverage amount will be assessed a Non-Sufficient Funds return fee. NSF item over $100 will be assessed a return fee. (Please see the Enbright CU Fee Schedule for exact fees).
You will receive notification if an item is returned.
Direct Deposits (a requirement of this account) when deposited will first go to cover any overdraft/negative balances and the remainder will be deposited to your account. At this point your overdraft coverage is re-set to $100. If you deposit funds more frequently than your direct deposit, those funds will first go to any overdraft amounts to re-set your overdraft to $100 and then credited to your Enbright One Checking account.
Qualifications and Requirements
There are no rules to qualify. Account Requirements include: *
- Account must have minimum of bimonthly or biweekly direct deposit
- Electronic statements
- Account must not be negative for more than 16 days
*Requirements subject to change without notice.
Members will be removed from Enbright One Checking if they do not meet the above requirements. On the 15th day of a negative balance, the account will be closed, and further actions may be taken by Enbright CU.
You do not have to sign any additional documents and there are no costs to you unless you use the service.
Items will be returned to the payee once your $100 limit is depleted. Any and all deposits to your Enbright One Checking will first go to any balances associated with the $100 overdraft allowance, next to any fees owed to the Credit Union and the remainder will be deposited to credit your Enbright One Checking account available for you to use. If the deposit is not sufficient to cover the $100 or any part of the $100 overdraft allowance you have used your deposit will be applied only to the $100 overdraft you have used. Payments made on behalf of members are at the sole discretion of Enbright Credit Union. This is not a contractual obligation, and the account requirements and procedures may be changed or withdrawn at any time. We do not guarantee the payment of any item at any time. Enbright Credit Union will not be liable for damages for checks returned unpaid. Please refer to our full account disclosure for any other information regarding your checking account. Enbright CU will pay items as they are received from vendors in the chronological order they are received.