Improving Your Real-Time Balance When Using Your Visa^® Debit Card

UW Credit Union is committed to providing services that help you manage and track your finances. Starting after April 21, 2010, we're improving the accuracy of your real-time account balance when you use your Visa® debit card. This means that when a merchant obtains authorization from us to approve your purchase, it will affect the available balance of the primary account linked to the card. This will help improve the up-to-minute accuracy of knowing what is really available to spend.

For example, you have a balance of $500 and make a purchase for $100 at a retail store. Your available balance will decrease to $400, because the merchant obtained authorization from us when the card was swiped. Previously your available balance was not decreased until the final payment amount posted to your account. This will help our members avoid fees by better understanding the true amount on hand, so they don't inadvertently spend more than what is available in their checking account—eliminating any overdraft transfer fees. Please keep in mind that UW Credit Union, unlike most financial intuitions, does not charge an overdraft/NSF fee when an overdraft occurs as a result of a non-recurring debit card purchase transaction. Therefore, you can be assured this improvement is being made to serve the interests of our members and won't produce fee income for the credit union.

Certain types of merchants sometimes authorize more or less than the final transaction amount (e.g. car rental, hotel) and may affect your overall available balance. Authorizations will be released when the charge posts to your account or after two business days, whichever comes first. When traveling, you may want to use a credit card for payment of hotel and car rental services if you have any concern about the temporary impact on the available balance of your checking account.

Purchase authorizations will be displayed in the Web Branch history for your account so you can better monitor your available balance. You can also establish a Balance Alert in the Profile and Services tab in Web Branch.

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