Overdraft Product Options
Learn more about Overdraft Privilege and what it means for you!
Enjoy Your OSCU Checking Benefits
- Online Banking
- Bill Pay Service
- E-statements with check images
- Mobile and Text Banking
- Unlimited check writing
- Overdraft Options Available
Overdraft Privilege Service – You Must Opt In for this Service.
- No minimum daily balance to be maintained and no monthly service charge.
- Minimum opening deposit of $25.00
- Must be 18 or older
You MUST OPT-IN for Ocean State Credit Union to authorize and pay overdrafts for ATM Transactions and OSCU Visa® Debit Check Card transactions. If you do NOT OPT-IN for this service, your ATM Transaction or OSCU Visa® Debit Card transaction will be declined (review the details of “OPT IN / OPT OUT for Overdraft Services” via the Opt-In link).
What You Need To Know
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
Overdraft Protection Linked to Statement Savings Account
- Draws from your own Statement Savings Account in the event of an overdraft.
- Fee is $5.00 per transaction
- Returned Checks and OSCU Visa® Debit Card transactions will be honored up to the amount that is available in your Statement Savings Account.
Overdraft Line of Credit
- A convenient way to avoid checking overdrafts.
- Overdraft Line of Credit is available up to the amount of $1,000.00.
- Payments are 5% of the outstanding balance, but never less than $25.00 per month.
- Advances are granted in increments of $50.00.
- Overdraft Line is determined upon credit pre-qualfication through Consumer Loan application.
- A 15.00% APR interest rate is applicable while Line of Credit is in use.
- APR = Annual Percentage Rate. All rates are subject to credit approval and may change at any time.
Overdraft Protection Rate
| Term | Rates(as low as) |
|---|---|
| Open | 15.00% APR - $1,000.00 Maximum Advance in $50.00 Increments |
Rates effective as of September 26, 2018
*APY = Annual Percentage Yield
Products In Italics Have A Special Rate.
Rates Are Subject To Change at anytime without notice
Debit Card Monitoring and Alerts
Stay in control of your spending with OSCU Visa® Debit Card Monitoring and Alerts. Receive real-time notifications for transactions on your debit card, helping you quickly spot unusual activity and manage your account with confidence. It’s a simple way to stay informed and keep your money secure, wherever you go.
Real Time Fraud Detection
All Ocean State Visa® Debit Cards are monitored in real time to detect and protect against potential fraud. Members will receive alerts from our Fraud Protection Services through Text Messages, Telephone or by Mail if an unusual transaction is identified.
As a new feature, Text Messaging Alerts will be available to Members with Mobile numbers on file. With this added feature, keeping your card safe is as easy as a text. Your Debit Card security is our top priority. That’s why we’ve added text alerts as part of our ongoing fraud monitoring program.
Text Messaging Alerts
Members that provide a mobile number on file will receive Fraud Text Alerts for Visa® Debit Card transactions automatically. This option gives our members the ability to mark transactions as legitimate or fraudulent in order to keep your Debit Card Secure.
Program 37268 into your mobile contacts as “OSCU Fraud Alert” to ensure you know it’s from this service.
Though this benefit is something that we hope enriches all of our member’s experience, we do understand if you wish to opt out of Text Messaging Alerts. Once your first fraud alert comes through, simply reply STOP and you will no longer receive Text Message Alerts.
If you receive a text message requesting you to review a transaction.
- Respond NO and the transaction will be marked as a fraud
- You will receive notification from our fraud department on how to proceed
- Fraud department call 844-436-1738.
- Replacement Cards / Card Services call 877-397-1900 option 5, then option 4
- Respond YES and the transaction will be considered legitimate. Please attempt transaction again.
What you can do
Keeping your information up to date ensures we can reach you at the time of service. Please remember, we will never reach out to you looking for card number, passwords or account information.