Courtesy Pay FAQ
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What is Courtesy Pay?
Courtesy Pay is a service designed to help guard against having your checks returned, your ACH payments returned, and your everyday debit card transactions and ATM withdrawals denied. It can also help prevent awkward and embarrassing moments. The availability and amount of Courtesy Pay protection varies.
Do I have to participate in Courtesy Pay?
No. You may "Opt-in and Out" of Courtesy Pay at any time.
How can I "Opt-In and Out" of Courtesy Pay?
You may request to have Courtesy Pay removed or added to your account at any time. You may elect to do so by visiting a branch, contacting the Credit Union or by logging into your online banking account and selecting the "Other Options" menu.
Can I have Courtesy Pay removed and "Opt-In" in the future?
Yes. You may request to have Courtesy Pay removed or added at any time. If you wish to take advantage of this privilege in the future, you may elect to do so by visiting a branch, contacting the Credit Union or by logging into your online banking account and selecting the "Other Options" menu.
How does Courtesy Pay work?
If for any reason you overdraw your checking account, we may elect to cover your overdraft(s) up to your limit, including any service charges. We encourage you to bring your account positive as quickly as possible. In fact, to encourage this behavior we have introduced a negative balance service charge. This service charge will begin on the 6th calendar day of your checking account being overdrawn and will not exceed 10 consecutive days.
What accounts receive Courtesy Pay?
Courtesy Pay may be approved for most checking accounts in good standing. Regular checking account holders receive Courtesy Pay after a checking account has been opened and established for 30 days.
Will Courtesy Pay be available to all account holders?
No. Members under the age of 18, accounts that are delinquent or have been charged-off are not eligible for Courtesy Pay. Business accounts are also ineligible for Courtesy Pay.
Why are you adding Courtesy Pay to my account? Aren't you encouraging NSF charges?
No. We are trying to save you the embarrassment and frustration of having a check returned while helping you avoid the additional cost that merchants may charge you for returned checks or ACH payments.
Why should I Opt-in to Courtesy Pay for ATM and everyday debit card transactions?
There are many reasons why you might want to opt-in to Courtesy Pay for ATM and everyday debit card transactions, including:
- Provides Security—In difficult times, your transactions may be approved when you need money to pay for unexpected expenses.
- Increased Convenience—Your purchases are approved when you have insufficient funds in your checking account, rather than being denied.
- Eliminates Embarrassment—Avoids the awkwardness of a merchant declining your transaction.
- Nothing to Lose—There is no service charge to opt-in and no service charge if you never use the service; however, the protection is available to you if needed.
Is Courtesy Pay the same as Overdraft Protection?
No. Courtesy Pay is not overdraft protection. Courtesy Pay is a consideration for members 18 and older with a Credit Union checking account in good standing. Overdraft protection transfers money from your savings or line-of-credit (LOC) loan to your checking account to pay a check or ACH. Courtesy Pay covers a check, ACH, debit and ATM withdrawal that may allow your account to go negative. Overdraft protection transfers from your savings does count towards Reg. D's six monthly transfers. After six transfers, Courtesy Pay may take effect and pay your overdrafts. Courtesy Pay does not count towards Reg. D limits.
Will I incur a service charge for Courtesy Pay?
Yes. You will be assessed a service charge for each paid item presented up to your approved limit. This is the same service charge amount that is charged for non-sufficient funds (NSF), but with no additional vendor fees and less embarrassment to you. Multiple service charges may be assessed on the same day.
If I do not write NSF checks nor have NSF ACH transactions, will I be charged additional service charges?
No. You will only incur charges if and when you use Courtesy Pay.
What if I am already registered for overdraft protection?
If you have an existing overdraft protection plan, you may qualify for Courtesy Pay also. It will only be used after the overdraft protection from your savings account or a line-of-credit loan has been exhausted.
Can I keep my current overdraft protection from my savings account and/or line-of-credit loan?
Yes. If you already have overdraft protection from either your savings account or a line-of-credit loan, you will keep it.
Will checks and ACH be paid in a different sequence with Courtesy Pay?
No. ACH and check transactions are posted in the order they are received.
If I overdraw my account up to my limit and then make a deposit, is the remaining Courtesy Pay amount available?
Yes. You will have access to the remaining Courtesy Pay amount less any service charges.
Will the Credit Union pay all my Overdrafts?
The Credit Union may honor a member transaction that results in an overdrawn account through the use of the Credit Unions program called 'Courtesy Pay.' Under this program, the Credit Union charges a service charge to provide for the payment of a transaction that would otherwise be returned due to non-sufficient funds (NSF) available at the time of presentment. The Credit Union is under no obligation to pay any overdraft.