Courtesy Pay is a safety net for your checking account, so you can pay the bills even when you’re low on funds.
A Safety Net for Your Checking Account
At some point, we all run into that situation where payday is Friday, but a bill is due on Thursday. That’s why we offer Courtesy Pay: sometimes your checking account needs a safety net.
Courtesy Pay is an overdraft protection service we offer members with eligible checking accounts. As long as you keep your account in good standing, we can cover insufficient funds up to your approved limit of $500. There is no cost to have this service available on your account, there is only a charge when an overdraft occurs ($29.99 for checks, electronic funds transfers, or automatic bill payments, and $24.99 for ATM and everyday debit card transactions). Before Courtesy Pay kicks in, we will try to cover insufficient funds with your Overdraft Loan Protection (OLP) or Regular Savings, if either has funds available.
- Pay Bills Even When You’re Low on Cash
- Have a Safety Net for Your Checking Account
- Prevent the Frustration and Embarrassment of Bounced Checks
One of our members had some large, unexpected expenses over the winter, but the regular bills kept coming–just like they always do. Courtesy Pay helped him pay the bills so he didn’t get hit with late fees and penalties. Instead, he only paid for the Courtesy Pay coverage, saving him money and the frustration of dealing with unpaid bills.
We send you a notice each time an overdraft occurs to remind you to bring your account to a positive balance within 30 days.
We encourage you to always manage your finances responsibly, and use Courtesy Pay as an occasional safety net.
|Overdraft Transfer from Regular Savings (Regulation D limits apply)||$9.99|
|Non-Sufficient Funds / Courtesy Pay (ACH & Share Draft)||$29.99 per item|
|Non-Sufficient Funds / Courtesy Pay (Debit & ATM)||$24.99 per item|
|Other fees may apply. Refer to our full fee schedule for further information. Fees could reduce earnings on your account.|
Frequently Asked Questions
What is Courtesy Pay?
Courtesy Pay is a noncontractual overdraft protection service that we offer to our members with eligible share draft (checking) accounts. As long and you maintain your account in good standing, we may cover insufficient fund items up to your approved limit of $500. We will charge our normal NSF fee ($29.99 for checks, electronic funds transfers or automatic bill payments and $24.99 for ATM and everyday debit card transactions) and send you a notice each time an overdraft occurs. You are required to bring your account to a positive balance within 30 days.
How can I have overdraft coverage for checks, bill payments, and other debit transactions using my account number?
Courtesy Pay is automatically added to your account for checks, automatic bill payments and other debit transactions using your account number, such as a gym membership, electric bill, etc. You can remove this service at any time by contacting us.
How can I have overdraft coverage for ATM withdrawals and Debit Card Purchases?
Simply contact us and ask to add overdraft coverage for your ATM withdrawals and everyday debit card purchases (see opt-in form for details). There are no applications or credit approvals necessary. You can revoke this service at any time by contacting us.
How can Courtesy Pay benefit me?
Courtesy Pay may save you the embarrassment of having your debit declined or the expense of a returned check due to an error in your checkbook, an unplanned expense or just a shortage on cash between paydays.
How does Courtesy Pay work?
With Courtesy Pay, if we receive an item that causes the balance in your account to go below zero, as a courtesy, we may pay the item up to $500; including the overdraft fee.
Are other overdraft protection options available?
Yes, we offer other overdraft protection plans, such as a link to a savings account, which may be less expensive than Courtesy Pay. To learn more, ask us about these plans.
Is Courtesy Pay a loan?
No. There are no loan applications to complete. It is a service provided by the Credit Union to assist you with occasional overdrafts.
How will I know if I use my Courtesy Pay?
We will mail you a notice when you have an overdraft on your account that activates Courtesy Pay. We will continue to send reminder letters of your overdraft until you bring your account to a positive balance.
What if I go over my Courtesy Pay limit?
If you exceed the Courtesy Pay limit, any additional items will be returned or declined when presented for authorization or payment.
Is there a charge for Courtesy Pay?
There are no fees to have the service available on your account. If you use Courtesy Pay you will be charged our standard fee ($29.99 for checks, electronic funds transfers or automatic bill payments and $24.99 for ATM and everyday debit card transactions) for each insufficient item as described in our Courtesy Pay Policy. The charges associated with Courtesy Pay are also listed in the Schedule of Fees and Charges.
If I use my Courtesy Pay, how long do I have to bring my account into balance?
You should bring your checking account to a positive balance as soon as possible. To keep your account in good standing, you have 30 days to pay any overdraft and associated fees. However, depending on the situation, we can ask for repayment at any time. Any deposit made automatically or by you will first be applied to any overdrawn balance and associated fees.
What happens if I can’t bring my account to a positive balance?
If your balance remains negative for 30 days, your Courtesy Pay will be suspended or revoked and you risk losing your checking privileges. The service may be reinstated when your account returns to good standing.
Get a Safety Net for Your Checking Account
Be able to pay your bills, even when you’re low on funds.