Frequently Asked Questions

Listed below are some of the most frequent questions we get from members about overdraft services.

Overdraft FAQs

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 and offer overdraft protection plans.

Signing up is easy! You can 

  • Log in to your account online and select Account Profile, then select Overdraft Services.
  • Call the Member Service Center at 800-525-9094.
  • Visit any branch location.

We authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number.
  • Automatic bill payments.

We do not authorize and pay overdrafts for the following type of transaction unless you authorize us:

  • Signature-based debit card transactions.

We do not authorize and pay overdrafts for the following types of transactions:

  • Point-of-Sale (POS) transactions
  • ATM 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.

We will charge you a fee each time we pay an overdraft, based on the amount the account is overdrawn:

$.01 - $5.00: No charge
$5.01 - $10.00: $5.00
$10.01 - $15.00: $10.00
$15.01 - $20.00: $15.00
$20.01 - $25.00: $20.00
$25.01 or more: $25.00

There is no limit on the total fees we can charge you for overdrawing your account. See Schedule of Service Fees.

Overdraft protection authorizes an automatic transfer of funds in the event that your checking account is overdrawn.

Even the most organized person can have a hiccup with a checking account, especially if there are joint owners using the account. Each time you don’t have sufficient funds in your account to cover a check that you’ve written, Alaska USA assesses a $25 non-sufficient funds (NSF) fee. (The national average for other financial institutions is more than $32!)

The merchant to whom you wrote the check will most likely charge you as well, usually at least $25 to $30. You can avoid these types of charges, and possible negative effects on your credit, by signing up for overdraft protection.

While it costs nothing to establish overdraft protection, there are minimal fees associated with using it to cover your overdrawn checking account depending on the type of account used to cover the overdraft.

Savings or Money Market

$5 fee per day. Fee is waived if amount of transfer is less than $5.00.
The amount withdrawn is equal to the amount needed to cover the draft on your checking account, leaving your account balance at zero until you deposit or transfer additional funds

Credit Line or HELOC

First three transfers a month are free; additional transfers that month are $5 each.
The amount withdrawn is rounded up to the nearest $100 amount that is sufficient to clear the overdrawn checking account balance.