Courtesy Pay Overdraft Privilege FAQ

What is Courtesy Pay?

Courtesy Pay* is an enhancement to our checking accounts that allows us to pay transactions presented against your account when you have inadequate funds. Instead of returning the transaction to the merchant for insufficient funds, we pay it and temporarily overdraw your account (up to a maximum of $700.) If your account is in good standing, you are automatically enrolled within 30 days of opening a checking account.

What are the benefits of Courtesy Pay?

Courtesy Pay is an added privilege to our checking accounts that benefits members in the following ways:

l Saves money with fewer charges from retailers for returned checks.

l Saves time and embarrassment to redeem unpaid checks.

l Protects credit by allowing merchants to get paid.

Is there a fee?

There are no maintenance fees. Each transaction covered by Courtesy Pay will incur an overdraft fee of $25. The best way to avoid multiple fees is to know your balance. For more information on avoiding fees use the tips on the reverse side.

Can courtesy pay be taken away?

Yes, Courtesy Pay can be temporarily suspended or permanently revoked if your account is no longer in good standing or if you abuse the service. The best way to maintain your Courtesy Pay privilege is to promptly repay any negative balance that results from a Courtesy Pay transaction.

How do I opt-out?

If you choose to remove Courtesy Pay Privilege from your checking account, you can complete and sign an Opt-Out form which is available at your local branch or by contacting one of our representatives at 800-822-6875.

How do I avoid Courtesy Pay fees?

Avoiding fees from Courtesy Pay is simple when you use the following tips:

l Link your checking account to your share account or a line of credit so that if you overdraw your checking account, funds can be transferred automatically. Keep in mind, your Share account only allows up to 6 transfers per month.

l Review your monthly account statements and keep your account register up-to-date. Don’t forget about automatic bill payments you may have set up.

l Check your account balance regularly with CU Calls, Home Banking or through an ATM.

l When withdrawing money from the ATM make sure you know your balance. You will still be able to withdraw money from the ATM when your account is in the negative. Each withdrawal results in a overdraft fee.

l Plan your week in advance. It’s better to take out enough money for the entire week than make multiple transactions throughout the week. Remember the less transactions you make while  using Courtesy Pay, the less fees you will incur.

What can I do when I am too far in the negative?

We have several options for members that find it hard to get out of the negative with Courtesy Pay. One option is to open a signature loan to pay back the negative balance over time. For more information on ways to manage your account, stop by your local branch or call us at 800-822-6875.

*Courtesy Pay fees may be imposed for covering overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic means.  You have 45 days to return your account to a positive balance after using Courtesy Pay.  Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts.