Overdraft Protection
Set up a safety net in no time.
Conveniently pay bills, monitor accounts and manage financial tasks.
For times when there's too much action and not enough account
It happens. You lose track of your account balance when you make a payment, and you're dinged with fees and declines. Find the solution here.
Request our Courtesy Pay service
Protect against fees and frustration
Sometimes you forget how much money is in your account and sometimes an emergency forces your hand. But every time you overdraft your account, you take on hefty charges and deal with declined transactions. Here are affordable options that provide the backup you need.
Your CommonWealth One Savings
When you overdraw your checking account, one of your CommonWealth One savings accounts is the first source of coverage. If there's enough money in the account, the transfer happens automatically and there's no charge for the service.
ONELine
This is a line of credit specifically designed to cover shortfalls with automatic transfers. Please keep in mind, this option requires a loan application subject to our approval.
Courtesy Pay
Another option is Courtesy Pay, which means we may cover your overdraft if your account is in good standing. A fee applies per transaction. Courtesy Pay automatically covers bill pay payments, ACH payments, recurring debit card transactions and checks, but you must voluntarily opt-in for coverage of debit card transactions and ATM withdrawals.*
There are two ways to opt-in:
- When opening your checking account, just submit your request for Courtesy Pay online using our DocuSign form.
- Or download the PDF of our Courtesy Pay Overdraft Protection Form and return it to us.
Secure a good rate on your mortgage and lock it in for the long haul.
What's Your Journey?
The credit union provides exceptional service and competitive rates on savings accounts, CDs, and IRAs. Thanks to my savings, I've been able to make a down payment on my house and buy a car.
Member Since 1973
CommonWealth One Federal Credit Union is a full-service financial institution with branches in Northern Virginia, Maryland and Washington D.C.
Courtesy Pay eligibility will continue to be at the discretion of CommonWealth One and can be revoked at any time. If you exceed the Courtesy Pay limit, non-sufficient fund fees will be charged to your account accordingly. Certain restrictions apply. Please contact a Member Service Representative for a copy of our policy or more details on this service.