Learn how overdrafts work and discover your options when it comes to overdrafts

Need Your Transactions Paid?

We have several overdraft options

  • Checking

    Courtesy Overdraft

    (Includes Fee)
    Covers most everyday transactions even if it brings your account negative.

  • card-payment

    Card Overdraft
    *Optional Opt-In

    (Includes Fee)
    Pays for debit, credit and ATM transactions done with a card when the transaction is above your available balance.

  • Visa Platinum Icon

    Courtesy Overdraft
    *Optional Opt-In

    (No Additional Fee)
    If you have an iQ credit card you can set it up as an overdraft option for your checking account.

Still have questions?

Our FAQ's can help get them answered, or you can call us at (360) 695-3441


What fees are changing?

Starting Aug. 1, 2023, nonsufficient fees will operate differently; if your account lacks sufficient funds to cover a transaction and you have not opted out of Courtesy and Card OD with no available source of overdraft protection, we will not pay the item and we won’t charge you a nonsufficient funds (NSF) fee. Previously, if transactions exceeding your balance were not paid, you would incur an NSF fee. 

You also won’t be charged a returned item fee if someone else writes you a check and it is returned unpaid. 

Why is iQ changing how it handles fees now?

As a member-focused credit union, we continually review our policies to ensure they are fair and beneficial. The changes reflect our commitment to transparency and helping our members avoid unexpected costs. Technology is changing, which reduces some of our manual processes. Now we’re passing these savings on to our members. 

How do I see what fees I'm being charged now?

Just log into your account online or on our mobile app and navigate to your account statement. This will show any fees you've been charged. The fee schedule is available online and mailed with disclosures. If you need help to understand these fees, just give us a call! 

What is an NSF fee?

NSF stands for "nonsufficient funds." This is a fee some financial institutions charge when a transaction you make exceeds the available balance and they do not pay the transaction. Notices are also sent when fees are charged. iQ Credit Union does not charge this fee.  

What is an overdraft fee?

This fee comes into play when you use our overdraft services. An overdraft fee is a charge a financial institution imposes when a customer's account has insufficient funds to cover a transaction, but the transaction is still paid.  

What is the difference between an NSF and an overdraft fee?

Good question! Both these fees relate to not having enough funds in your account. The NSF fee happens when a transaction cannot be paid due to a lack of funds, and the overdraft fee occurs when we pay a transaction for you that exceeds your available balance. 

The major difference between the two is what happens to the transaction. With an overdraft, your transaction is paid even though your account balance is too low, while with an NSF, the transaction is not paid.If you are unsure of your current overdraft selections, you will need to contact iQ Credit Union to determine what coverage is best for you. 

What is the best way to avoid overdraft fees?

The best way is to keep a close eye on your account balance. Make sure there's enough in your account to cover your transactions. Budgeting well and regularly checking your balance can help avoid surprises. Setting up regular balance alerts in the Digital Branch to keep an eye on your balance is a great way to avoid overdraft fees as well. You can also set up a transfer from a savings account, credit card, or loan to cover your accounts. 

What is the benefit of Member Perks at iQ?

Our Member Perks are our way of saying thank you for being part of iQ Credit Union. As part of this program, enrolled members can take advantage of one courtesy overdraft fee reversal per year, adding an extra layer of financial protection. 

What if I still have questions about fees?

We totally get it—finance can be a complicated business! You can always reach out to our helpful member service representatives. They'll be happy to answer any additional questions you might have.