Privilege Pay

Ensure your payments go through.

With our busy lives, it’s easy to forget to deposit a check, transfer money or make note of your latest debit charge. A simple error can lead to a negative checking balance. When that happens, Scient FCU may be able to help you out with our Overdraft Privilege* program.

  • We have the discretion to cover any overdrafts and authorize your payments
  • Avoid merchant fees for returned checks and rejected payments
  •  Learn more in our complete Privilege Pay Member Disclosure
  • Scient will not pay overdrafts for ATM or everyday debit card transactions unless you have given consent by opting in to Online Banking

Scient FCU is a full-service credit union with branches in Groton, New London and New Haven Connecticut.

Important Information About Privilege Pay

An overdraft occurs when you do not have enough money in your account to cover a transaction, but Scient Federal Credit Union pays 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 an overdraft transfer from your savings account or an Executive Reserve Account, which may be less expensive than our standard overdraft practices.

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.

This notice explains our standard overdraft practices. For information about our overdraft protection plans, contact us.

What are the standard overdraft practices that come with my account?

  • We authorize and pay overdrafts for checks and ACH transactions made using your checking account number.
  • Unless you ask us to, we do not authorize and pay overdrafts for ATM and PIN-based Point-of-Sale (POS) transactions and one-time debit card transactions. To request this protection, opt in below. We understand that mistakes can happen and you will not be charged for this protection unless Scient Federal Credit Union pays the overdraft.

What fees will I be charged if Scient Federal Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30 each time we pay an overdraft.
  • We may charge a maximum of six (6) overdraft fees per business day.
  • Fee subject to change. Please see our fee schedule.
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*Payment of an inadvertent overdraft is not guaranteed and is paid at the credit union’s sole discretion.  A  fee will be charged each time that Scient pays an overdraft created by checks, ACH, Point-of-Sale, ATM withdrawals, in-person withdrawals, or by other electronic means (Please see fee schedule). Overdraft Privilege is not a loan, and all fees and the overdraft amount (negative balance) are due and must be repaid to us as soon as possible to avoid suspension of your debit card, and within thirty (30) days to avoid collection activity. Your account must remain in good standing, or lower limits may be granted, or limits revoked, at the discretion of the credit union. Good standing means that you and any of your joint owners 18+: do not have Scient loans more than thirty (30) days past due; have not caused a loss to the credit union; have not had an account open less than or with a negative balance for more than thirty (30) days; are not subject to levy, garnishment or bankruptcy; do not have a dormant or inactive account. Other restrictions may apply.