BECU Reduces Non-Sufficient Funds and Overdraft Fees
Starting Oct. 17, BECU is reducing Non-Sufficient (NSF) Fees and Overdraft Fees for both consumer and business members.
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At BECU, our top priority is the financial well-being of our members. As part of that commitment, and in line with changes occurring throughout the financial services industry, we're making reductions to our Non-Sufficient (NSF) Fee and Overdraft Fee structure. These changes apply to all BECU consumer members and business members.
We believe this is a positive and important change. Not only is it part of BECU's ongoing effort to provide tools, insight and services members need to achieve their financial goals - it's one more way we can help improve our members' financial well-being.
What's Happening and What These Changes Mean for You
Beginning Oct. 17:
- We're eliminating NSF Fees and NSF Uncollected Fees for returned unpaid checks and/or rejected ACH transfers.
- We're eliminating NSF Transfer Fees.
- We're reducing the cost of NSF Fees for paid ACH/check items (both NSF Fees and NSF Uncollected Fees).
- We're reducing the cost of Overdraft Fees for paid debit card transactions.
For ACH Transactions, Checks, Bill Pay and Loan Payment Transfers:
- NSF Fee (Item returned/rejected due to an insufficient Available Balance.)
As of Oct. 17, reduced from $25 to $0 - NSF Uncollected Fee (Item returned/rejected due to an insufficient Available Balance because of holds placed on the account.)
As of Oct. 17, reduced from $25 to $0 - NSF Transfer Fee (BECU loan payment transfer rejected due to an insufficient Available Balance.)
As of Oct. 17, reduced from $25 to $0 - NSF Fee1 (Items paid even though there was an insufficient Available Balance.)
As of Oct. 17, reduced from $25 to $10
For Point-of-Sale (POS) Transactions With Your Debit Card:
- Overdraft Fee2 (POS transactions paid even though there was an insufficient Available Balance.)
As of Oct. 17, reduced from $25 to $10
When We Charge NSF Fees and How You Can Avoid Them
Unless you have opted out or become ineligible, your account will be automatically covered by the Optional NSF Service for Deposit Accounts. If your account remains opted in to the Optional NSF Service for Deposit Accounts, BECU may, from time to time, honor and pay items for an amount greater than your Available Balance. For members whose accounts are opted in to this service, we charge a $10 NSF Fee (previously $25) for each paid item.
You can avoid NSF Fees by opting out of this service at any time. To opt out, you can call us at 800-233-2328 during business hours, visit us in person or mail your opt-out notification to:
BECU
M/S 1086-2
P.O. Box 97050 Seattle, WA 98124
When We Charge Overdraft Fees and How You Can Avoid Them
We will charge an Overdraft Fee of $10 (previously $25) if you are opted in to the Optional Overdraft Service for Debit Card Transactions and we pay a debit card POS transaction for an amount greater than your Available Balance.
You can avoid Overdraft Fees by not opting in to the Optional Overdraft Service for Debit Card Transactions.
For more information, please see the Account Agreements and the Account Disclosure. If you are a business member, please refer to the Business Account Agreements and the Business Account Disclosure.
Other Resources
BECU offers a range of services to help members improve their financial wellness and achieve their goals.
Financial Health Check
Free, one-on-one coaching with a trained specialist who can help you set up money management practices and show you tools to help you save money and to avoid going in to debt.
Text and Email Alerts
Free alerts that make it easy to monitor your accounts, from low-balance alerts, payment-due alerts and more.
GreenPath Financial Wellness
Free, confidential one-on-one financial counseling through our partnership with GreenPath for support navigating financial challenges.
Money Management Resources
Our Online Banking, Mobile Banking and Telephone Banking services are great tools to help you track your account activity.
First-time Homebuyer Grant
First-time homebuyers can receive up to $7,500 in down-payment assistance.
Loan Reprice
Members who've improved their credit score and made timely payments may earn a better rate.
Save-Up Automated Savings
Automatically build savings by rounding up or transferring a flat amount into your savings account with each debit card purchase.
Secured Credit Card
A way for people to work on building credit or reestablishing a credit history.
Questions?
If you have any questions, send us a secure message using Messenger in Online or Mobile Banking. You can also call a BECU representative at 800-233-2328 or visit any BECU location.
Additional FAQs
What's the difference between my Available Balance and Current Balance?
Your Available Balance may be less than your Current Balance because of pending transactions as described in the Pending Transactions Examples section below. Spending more than your Available Balance can draw your account negative, and you may be charged NSF Fees or Overdraft Fees, or both.
What can I do to avoid NSF Fees and Overdraft Fees?
You can avoid being charged future NSF Fees by ensuring all of your transactions that post to your account are less than or equal to your Available Balance including:
• Checks
• ACH debits
• Person-to-person transactions
You may opt out of the Optional NSF Service for Deposit Accounts by contacting us in person, by phone, or by mailing us an opt-out request.
You can avoid being charged future Overdraft Fees by ensuring your debit card purchase transactions that post to your account are less than or equal to your Available Balance.
Further, if you are opted in to the Optional Overdraft Service for Debit Card Transactions, you can opt out. If you opt out, BECU will deny debit card transactions when the transaction amount is greater than your Available Balance, and BECU will not charge you an Overdraft Fee for that attempted transaction. You can opt out of Optional Overdraft Service for Debit Card Transactions in Online Banking.
• Log in to Online Banking with a valid username and password.
• Click Account Services.
• Click Overdraft Services and follow instructions to opt out.
You can also opt out during business hours by calling us at 800-233-2328, or in person at any BECU location.
Remember to carefully track your spending, be aware of your scheduled and recurring transactions, and regularly monitor your Available Balance.
What's the difference between the two services?
Optional NSF Service for Deposit Accounts is for ACH and check transactions. The service automatically covers accounts that remain eligible, however members may opt out at any time.
Optional Overdraft Service for Debit Card Transactions is for point-of-sale (POS) debit card transactions. Members may opt in to use the service and they may opt out at any time.
1If you maintain your account in good standing, it will be automatically covered by the Optional NSF Service for Deposit Accounts, and you will be charged this fee unless you have opted out or become ineligible for this service. See the Account Agreements or the Business Account Agreements for more information.
2If you're opted in to the Optional Overdraft Service for Debit Card Transactions, you will be charged this fee unless you have opted out or become ineligible for this service.