SureBalance Checking Account Clarity Statement

Your SureBalance Checking Account

When you are approved for a SureBalance Checking Account, the credit union will automatically issue you a Visa Debit Card that may be used for Point-of-Sale (POS) purchases and ATM transactions including deposits and withdrawals. Your debit card is not associated with a rewards program.

Authorization Holds for Debit Card Transactions

The available balance in your account plays a significant role in the functionality of your account. The available balance will determine if you have sufficient funds in your account at the time of authorization. When you make a purchase with your debit card, the merchant may seek the credit union’s prior authorization for the transaction. We may place a hold against some or all of the funds in the account linked to your debit card if and when an authorization request is obtained. This authorization hold will be subtracted from your available balance (generally in real time as they are received by the credit union throughout the day). The amount of the authorization hold may differ from the actual transaction amount because the actual transaction amount may not yet be known to the merchant when the authorization request is submitted (such as gas station, restaurants, and other service industry purchases).

The credit union will place a debit card authorization hold on your account for up to three (3) business days from the time of the authorization.  Please note most transactions post to your account and release the authorization within 24 hours.

Effect of Holds on Your Available Balance and Overdrafts.  Holds placed on your account for pending electronic transactions, such as hotel or rental car deposits, holds placed on any deposits to your account, any pledges of your account and any minimum account balance requirements may reduce your available balance and may cause your account to become overdrawn regardless of your actual balance.  The Credit Union can decide whether an overdraft occurs based on your available balance or your actual balance as determined by the Credit Union in its sole discretion from time to time.  However, you should assume that any item which would overdraft your account based on your then-current available balance may create an overdraft.

Other Terms and Conditions

You may not order personal checks to draw against your SureBalance Checking Account. You may use our Online Banking service to check on your account balance, transfer funds, set up account alerts, and other financial management programs. Additionally, you can use other Online Banking services such as online Bill Pay. Overdraft Privilege is not available with your SureBalance Checking Account. You are responsible for all transactions you authorize, including any ACH transactions or payments you unintentionally or inadvertently authorized, and any losses, charges or penalties incurred as a result.

To help you avoid overdrawing your account, check and ACH transactions will be declined and returned unpaid when you don’t have enough money in your account. This may cause your account to have a negative balance and/or incur a non-sufficient fee. It is very important to understand that you may still overdraw your account even though the available balance appears to show there are sufficient funds to cover a transaction.

In most cases, this account will prevent you overdrawing; however, your account could still have a negative balance if:

• Your debit card is used to pay for a meal and then a tip is added to the authorized amount that appears on your receipt
• Your debit card is used to purchase gas at the pump and is authorized for $1 first, then the full amount is charged after you pump the gas
• Any previous deposit to your account is returned unpaid or otherwise reversed from your account

You may incur fees related to this account, including but not limited to our normal checking account fees, online banking fees, and non-sufficient funds fees.  Please see the Consumer Fee Schedule for the current fees that may apply to your account. 

Your use of your SureBalance Checking Account is governed by the terms of this Clarity Statement and the Consumer Membership Agreement. Please refer to the Consumer Membership Agreement for additional terms related to your SureBalance Checking Account.