VBiz Fees
Understanding Account Fees
Account fees are assessed when unfavorable transactions occur on your accounts. These fees are assessed to cover any costs due to VSECU and/or are associated with additional account maintenance resulting from the transaction. Assessing these fees on an individual basis allows us to continue to return the best rates to the membership as a whole.
| Action | Fee |
| Non-Sufficient Funds | $24 per item, paid/returned |
|---|---|
| Uncollected Funds | $24 per item, paid/returned |
| Closed Membership within 90 days | $20 |
| Returned Statement | $3 – future mailing suspended |
| Excessive Withdrawal | $3 per occurrence |
| Excessive Withdrawal Money Market Accounts | $10 per occurrence |
| Overdraft Transfer From Savings | $3 per occurrence |
| Inactive Checking Account | $5 if no activity for 90 days & balance is less than $500 |
Understanding Service Fees
Service fees are assessed on an individual basis for additional services requested of VSECU. These fees are assessed only when applicable for a service provided. This allows us to keep operating costs low for the overall membership and return the best rates possible for deposit and loan products.
| Service | Fee |
| Account Reconciliation | $15 first hour / $40 thereafter |
|---|---|
| Wire Transfers (outgoing) | Domestic $18 each / International $40 each |
| ACH Origination Online | $10 per month |
| Paper Statement Copy | $3 per statement – free online |
| Paper Statements | $2 per month |
| Bill Pay Online | $9.95 per month (waived if average monthly loan and/or deposit balances are $7,500 or more) |
| Gift Checks | $2 each |
| Temporary Checks | $2 for a sheet of 4 |
| Check Order Prices | Vary by style |
| Check Copy | $3 – free online |
| Cashiers Check | $3 each |
| Money Order | $3 each |
| Traveler’s Checks | Free |
| Stale Dated Returned Check1 | $5 per item |
| Legal Processing (writ, levy, etc) | $25 each |
| Member Coin Machine | 5% of total coin amount |
| Stop Payment on Check or ACH | $18 per item; or multiple items within a range |
| Non-VSECU ATM Transaction | $1.50 each |
| ATM Surcharge | Other institutions may charge to use their ATMs. See free ATMs |
1 Note: A stale-dated check is 6 months old unless otherwise noted.
Tips to Avoid Fees
Let’s face it, nobody likes paying fees that are unnecessary. And we don’t want to charge unnecessary fees. Although there are some fees that cannot be avoided when you choose to use a particular product or service, there are ways to avoid or reduce some fees altogether. Here are some helpful tips with the most common fees:
ATM Surcharge Fee – Instead of using an ATM ask for cash back every time you use your debit card at the grocery store, Walmart or other retailer. There may be dollar limits on getting cash back free of charge from the retailer. But even if there is a charge, it’s usually a lot less than the surcharge fee charged by the ATM owner. You can also get cash free of any surcharge fee at any CO-OP ATM in the U.S. These ATMs are owned by credit unions and no fee is imposed.
Non-Sufficient Funds Fee – Keeping an accurate record of your account is the most important tip to avoid overdrawing your account and getting charged with this fee. For added security consider overdraft protection or appending a line of credit to your account.
Excessive Withdrawal Fee – You can avoid this fee by making sure you don’t use your savings account as a transaction account. A good rule of thumb is to keep your monthly transactions to no more than six per month. When you conduct a transaction from one of your savings accounts face to face with a teller, that transaction is exempt from being counted.
Copy of Paper Statement or Checks – If you sign up for online access to your account(s) you won’t need a paper copy sent to you. Instead you can download a copy of your statement or a copy of check yourself and print it at home or work. Online banking is free.
