Updated 6/8/20: Our Lincoln Laboratory and Student Center branches remain closed. Our Tech Square branch is open Monday - Friday 8:30 am - 4 pm. Appointments are encouraged. Please call 617-253-2845 for an appointment. Please visit MITFCU.ORG/COVID19Support for more information.

FRAUD ALERT: Fraudsters have been sending out counterfeit cashier’s checks and money orders appearing to be issued by MIT Federal Credit Union. If you received one of these checks in payment for services as a mystery shopper, please do not cash or deposit, and do not send money to the company sending the check! Read more here.

Fee Schedule

Please click on the link below to view the full document (PDF). 

Schedule of Fees as of April 3, 2020

 

  • All Transactions made at MITFCU ATMs - Free
  • Point-of-Sale Transactions - Free
  • Out-of-Network ATM Surcharge Fee (per transaction after 8 free ATM withdrawals per month at non-network ATMs) - $1.001
  • Card Replacement Fee - $15.002
  • 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

Checking

  • Member Check Order, based on style - Varies3
  • Non-sufficient Funds/Overdraft (NSF/OD) Fee (each) - $25.00
  • Courtesy Pay (Overdraft) Fee (paid) - $25.00
  • Uncollected Funds Fee (each) - $10.00
  • Stop Payments (each) - $15.00
  • 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/mo

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

Primary Share and Select Savings Accounts

Limited to 6 withdrawals per month
Excess Transaction Fee - $25.00

Money Market Accounts

Limited to 6 withdrawals per month, 3 may be via check
Excess Transaction Fee  - $25.00

Loans

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

Mortgages

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

Student Choice Loans

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

Bill Payment Service

  • Bill Payment Insufficient Funds Fee (each) - $25.00
  • Electronic Items Returned Fee (each) - $25.00

Funds Transfer

  • Standard Outgoing - $2.00
  • Next Day Incoming or Outgoing - $5.00
  • International Wire Transfer Fee (outgoing) - $30.00
  • Domestic Wire Transfer Fee (outgoing) - $15.00
  • Incoming Wire - Free
  • Return Deposit Check Fee (each) - $25.00
  • Statement Copy/ Canceled Check Copy (each) - $5.00 (also available at no charge in online banking)
  • Account Levy Fee - $20.00
  • Abandoned Account Processing Fee - $50.00
  • Account Research Fee - $20.00/hr
  • Inactivity Fee (Starting the 24th month of account inactivity) - $5.00/mos

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

2 Free for Smart Money Rewards members.

3 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.