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Common Questions About Dynamic
Federal Credit Union Check/ATM Card.
Q. How does the card work?
A. At stores, restaurants, service stations & other MasterCard
merchants, it works like a check. You present the card to the cashier, sign the
receipt, and your purchase is deducted from your checking account. At Automatic
Teller Machines (ATMs), it works just like an ATM card and you use your Personal
Identification Number (PIN). You can use it to shop where ever you see the
MasterCard logo and receive cash at any MAC automatic teller machine (ATM).
Q. I follow the same steps as
when I use a credit card, but its not a credit card?
A. Right! Your check card is accepted by merchants just like a
MasterCard. The difference is that your purchases will be deducted from your credit
union checking account.
Q. Are there any fees when I
use it?
A. There will be no monthly service fee for having a check card or for
using it at merchants displaying the MasterCard Logo. Remember, use your card just
like a credit card and always tell the merchant that you are transacting a credit
transaction or be sure to push credit. By pushing credit you are avoiding possible
transaction fees.
Whenever you use your PIN (at an ATM or
by selecting debit at a merchant) this is counted as an ATM transaction and the
credit union is charged a fee. We allow you five (5) free PIN transactions each
month. After five there is a $1.00 charge per transaction.
Q. Are there spending limits
for check card?
A. You can spend up to the balance of your checking account, or $1,500
per transaction. At the ATM, you can withdraw up to $500 per day.
Q. Could I overdraw my
checking account when I use my check card?
A. Yes! If you do not have sufficient funds available, then just as
with overdrawn checks, you can expect to pay some fees.
Also, as a reminder, if you make a
deposit at the credit union in the morning your balance on the check card / ATM
system may not update until 24 hours later.
Q. Will my check card
purchases appear on my monthly statement?
A. When you shop with your check card, the amount, date and the place
where you used it appears on your statement.
Q. How will I start using
my card?
A. For your security, you must activate your check card at an ATM
machine prior to using it at a merchant. Just complete one transaction at an ATM,
and you’re on your way!
Q. What if my card is lost or
stolen?
A. Just like regular ATM cards, if you report a lost or stolen card
within the next two business days, your liability is limited to $50.00. If you do
not report your card within 2 days of your knowledge of it being lost or misused,
you could be responsible for the charges incurred. Even though it is not a credit
card, treat it as if it were. Report your lost or stolen card to us immediately at
1-419-586-5522 or 1-800-523-4175.
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