Overdraft Privilege Opt-In

If you are not Opted-In, you do not have overdraft coverage for one-time debit card or ATM transactions through this service.  You will need to take further action to ensure these types of transactions are covered.

Overdraft Privilege Opt-In Form

If you wish to have complete overdraft coverage (including debit card or ATM 
transactions), please contact us at 803-469-8600.

If you do not opt-in and your checking account goes below zero dollars during a transaction, your transaction may be declined if you use your debit card or try to get cash from an ATM and you do not have any other form of overdraft protection.  Even if it's for an emergency such as medical care, gas for your car, or car repairs, the transaction may be declined.   

Thousands of our members have enjoyed this aspect of Convenient Pay for several years.  With the new federal regulations, this valuable benefit no longer exists unless you opt-in.  We do not want any of our members to be in a time of need expecting the funds to be available, only to be declined.

What is an overdraft and what are the overdraft fees?

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:

  1. We have standard overdraft practices that come with your account.

  2. 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.

What are the standard overdraft practices that come with my 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

SAFE will not authorize and pay overdrafts for the following types of transactions (unless you put in a request):

  • 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.

Members in good standing are eligible for standard overdraft services (Convenient Pay) 30 days after their checking account has been opened.

What fees will I be charged if SAFE pays my overdraft?

  • We will charge you a fee of up to $30.00 each time we pay an overdraft.
  • There is no limit on the total fees we can charge you for overdrawing your account.