What You Need to Know About Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your Viriva Checking 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 another account or a line of credit, which may be less costly than our standard overdraft practices. To learn more, Connect With Us about these plans.
The information on this page explains our standard overdraft practices.
After reviewing what you need to know, complete the Extended Coverage Consent form if you wish to authorize Viriva to pay overdrafts for transaction types not covered under our standard overdraft practices.
Under our standard overdraft practices:
- We will charge you a fee of up to $30.00 each time we pay an overdraft
- There is no limit per day on the total fees we can charge you for overdrawing your account
We do authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
We will not authorize and pay overdrafts for the following types of transactions without your consent. Complete the Extended Coverage Consent Form if you wish to opt-in and give Viriva consent.
- ATM transactions
- Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.
If we do not authorize and pay an overdraft, your transaction will be declined.