About Us

Fee Schedule

Effective April 11, 2010

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) - $.50°
  • Card Replacement Fee - $10.00*
  • Emergency Card Replacement Fee - $15.00*
  • Use of Out-of-Network Cards at MITFCU ATMs - $2.25

Currency Conversion & Cross Border Transaction Fees (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: You can 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 that display the SUM Network, CO-OP Network, or MoneyPass logos.

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) - $25.00
  • 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 (High Yield 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 - $50.00*
  • 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
  • Currency Conversion and Cross Border Transaction Fees (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 - $15.00
  • 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
  • ACH Originated e-Payments - $10.00
  • Account Research Fee - $20.00/hr
  • Dormant Account Fee (Starting the 25th month of account inactivity) - $5.00/mos

Transfer Funds Service

  • PayPeople - $2.00
  • Standard Incoming - free
  • 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.

*** Effective September 21, 2009.

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

 


Back to Top

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.Co-OpMoney PassSUM
Digital Insight, an Intuit companyEqual Housing Lender
All rights reserved 2008 MIT Federal Credit Union 700 Technology Square Cambridge MA (p) 617-253-2845 (f) 617-258-5709
MESSAGE OF THE DAY


Close