Newrizons Debit Cards go real-time
Do I still use my current Newrizons Debit Card?
- Yes, it's an automatic improvement to your existing card. When shopping with your current Newrizons Debit Card, your Debit card works for both debit and credit transactions.
When I'm in a store and I'm asked credit or debit what happens?
- When you use your Newrizons Debit Card for a Credit transaction, just sign your name for the purchase. The purchase amount will be taken from your checking or savings account when the merchant processes the transaction. The amount could be deducted from your account immediately, in a few hours, or days.
- When you use your Newrizons Debit Card for a Debit transaction, use your PIN (personal identification number). When you use a PIN, the amount of the purchase could be immediately deducted from your checking or savings account. How can I get cash back?
When you're at the store, use your Newrizons Debit Card for a Debit transaction and ask for cash back. The amount available varies by merchant.
- Go to any Great Northwest Federal Credit Union branch or Swanson's Grocery Stores for free ATM transactions. Other ATMs charge additional fees to get cash from debit cards.
Are overdraft fees charged?
- If there is not enough money in your "available" balance at the time of clearing, an overdraft fee will be charged for each transaction that attempts to clear. You are responsible for overdraft fees caused by automatic payments and/ or merchant mistakes.Avoiding Overdrafts
Did you know?
Like a credit card purchase, an authorization is processed and a pre-authorization hold is placed on the funds until the merchant processes your transaction.
- Sometimes merchants put a pre-authorized hold for an amount more than the actual purchase amount - this often happens at gas stations, restaurants and hotels where the actual purchase amount is determined after the service has been provided (e.g., paying for gas at the pump).
- Pre-authorization holds are placed on an account when you authorize a Debit Card purchase as a debit or credit transaction. The amount of the hold is deducted from your account's" available" balance but not from the "actual" balance until the merchant processes the transaction.
What's the difference between "available" and "actual" balances?
- "Available" balance shows pre-authorization holds and is used to determine available funds when future transactions attempt to clear your account.
- "Actual" balance is the balance that includes all items that have cleared the account up to that point but does not include outstanding purchases or ATM withdrawals.
How Newrizons Visa Debit Card transactions work-an example ...
If your account balance was $100 and you make a $80 purchase with your Newrizons Debit Card, the merchants will put a $80 pre-authorization hold on your account. Your "available" balance will become $20 ($100-$80) and your "actual" balance will not reflect this transaction until it has cleared your account.
When the pre-authorization expires,
(1) the merchant immediately takes the purchase amount from your account
or
(2) the pre-authorized money temporarily re-appears in your account but only until the merchant takes the authorized purchase amount.
Keeping an eye on your "available" balance greatly reduces the possibility of starting an overdraft cycle.
To report a lost or stolen debit card, call 1.800.528.2273