Fee Schedule

Effective June 18, 2014

Debit MasterCard/ATM Card Fees

  • All Transactions made at MITFCU ATMS - Free
  • Point-of-Sale Transactions - Free
  • ATM Surcharge Fee (after 8 free ATM withdrawals/month at non-MITFCU ATMs) - $1.00°
  • ATM Surcharge Fee (after 8 free ATM balance inquiries/month at non-MITFCU ATMs) - $0.50°
  • Card Replacement Fee - $15.00*
  • Emergency Card Replacement Fee - up to $75.00
  • Use of Out-of-Network Cards at MITFCU ATMs - $2.25
  • International Transaction Processing Fee - (Includes any transaction converted to U.S. currency and any cross border transactions where the licensed MasterCard© merchant and the issuer are located in different countries.) - Up to 2% of the transaction amount

    Tip:
     To avoid going over your eight free monthly non-MITFCU ATM withdrawal limit, ask for cash back when you use
            your Debit MasterCard for purchases. This is not considered a non-MITFCU ATM withdrawal. You can also use
            MIT TouchTone Teller and e-Branch to conduct account inquiries and transfers at no cost.

    Tip: To avoid paying surcharge fees from other financial institutions, please use ATMs in the following networks:
            SUM, CO-OP, or MoneyPass.

All Checking Accounts
 

  • First Order of Basic Checks - Free
  • Member Check Order, based on style - Varies**
  • Nonsufficient Funds Fee (each) - $25.00
  • Uncollected Funds Fee (each) - $10.00
  • Negative Balance Fee (paid) - $25.00
  • Stop Payments (each) - $15.00
  • Copy of Check (each) - $5.00
  • Share-to-Share Overdraft Protection (per use) - $5.00


Plus Checking Accounts
 

  • Plus Checking Below Minimum Balance Fee (if daily balance falls below $2,500) - $5.00/mos


Select Checking Accounts
 

  • Select Checking Below Minimum Balance Fee (if daily balance falls below $10,000) - $8.00/mos


Select Savings Accounts
 

  • Subsequent withdrawals and transfers, each (Select Savings>1 Withdrawal Fee; One free withdrawal/transfer per calendar month.) - $25.00


Money Market Accounts
 

  • Subsequent withdrawals and transfers, each (MMDA >3 Withdrawal Fee; Three free withdrawals/transfers per calendar month.) - $25.00


American Express® Products
 

  • Travelers Cheques - Free
  • Travelers Cheques Gift Cheques (Amex Product Fee) - $2.50*
  • Travelers Cheques Gift Cards (Amex Product Fee) - $3.95*


Visa®
 

  • Late Payment Fee (each) - $25.00
  • Card Replacement Fee - $15.00*
  • Emergency Card Replacement Fee -  (2-3 day rush)     - $50.00
                                                                        (same day rush) - $75.00
  • Checks or electronic payments returned for nonsufficient funds or uncollected funds (each) - $25.00
  • Copy of statement or sales draft (each) - $5.00
  • Copy of travel and entertainment draft (each) - $25.00
  • International Transaction Processing Fee - (Includes any transaction converted to U.S. currency and any cross border transactions where the licensed VISA® merchant and the issuer are located in different countries.) - Up to 2% of the transaction amount


Loans
 

  • Late Payment Fee (applies to all consumer loans, home equity loans, and lines of credit) - $25.00


Student Loans
 

  • Origination Fee - None
  • Pre-payment Penalty - None
  • Late Fee - 5% of payment amount
  • Insufficient Funds Fee - $20.00


Mortgages
 

  • Preparation of Confirmation Discharge - $50.00
  • Preparation of Subordination Agreement - $50.00


Bill Payment Service
 

  • Bill Payment Non Sufficient Funds Fee (each) - $25.00 


Miscellaneous Fees
 

  • International Wire Transfer Fee (outgoing) - $30.00
  • Domestic Wire Transfer Fee (outgoing) - $15.00
  • Return Deposit Check Fee (each) - $25.00
  • Statement Copy Fee (each) - $5.00
  • Electronic Items Returned Fee (each) - $25.00
  • Copy of Canceled Check (each) - $5.00
  • Account Levy Fee - $20.00
  • Abandoned Account Processing Fee - $50.00
  • Account Research Fee - $20.00/hr
  • Dormant Account Fee (Starting the 24th month of account inactivity) - $5.00/mos


Funds Transfer

  • Standard Outgoing - $2.00
  • Next Day Incoming or Outgoing - $5.00

     

* Free for Smart Money Rewards members

** Smart Money Rewards members receive free orders of single, basic style checks. One set per order.
    Call 617.253.2845 during business hours to place your order.


°Smart Money Rewards members receive up to $5.00 per month in ATM surcharge reimbursements

 


Back to Top

 

 

Digital Insight, an Intuit companyEqual Housing Lender
Federally Insured
by NCUA
© 2013 MIT Federal Credit Union. All rights reserved. | 700 Technology Square, Cambridge, MA 02139 | (p) 617-253-2845 | (f) 617-258-5709 | (e) mitfcu@mit.edu