If you write a check that overdraws your account and Landmark returns it unpaid, the fee charged by Landmark Credit Union is $25.00 for personal accounts and $30.00 for business accounts.
Understanding Landmark's Returned Check Fees
When a check you write is presented for payment and there are insufficient funds in your account, Landmark Credit Union may either pay the item (resulting in an NSF Paid fee) or return it unpaid (resulting in a Return Check fee). The term "returned check overdraft" typically refers to the latter scenario, where the check is not honored due to insufficient funds and is sent back.
Landmark's fee schedule clearly outlines the charges associated with these situations, distinguishing between personal and business accounts.
Landmark Credit Union Returned Check and Overdraft Fees
| Description | Personal Account Fee | Business Account Fee |
|---|---|---|
| Return Check | $25.00 | $30.00 |
| NSF Paid | $25.00 | $30.00 |
Source: Landmark Credit Union Fee Schedule
Personal vs. Business Account Fees
It's important to differentiate whether the check was written from a personal or a business account, as the fees vary:
- Personal Accounts: For checks written from a personal checking account that are returned due to insufficient funds, a fee of $25.00 applies.
- Business Accounts: If the check originates from a business account and is returned, the charge is $30.00.
Both "Return check" and "NSF Paid" fees are set at the same amount for their respective account types. The "Return check" fee specifically applies when the check is not paid by the credit union due to insufficient funds and is returned.
