Courtesy Pay
Frequently Asked Questions


 

  1. What is Courtesy Pay?
  2. How does Courtesy Pay benefit me?
  3. How much does Courtesy Pay cost?
  4. Why do I have to opt-in or opt-out?
  5. What transactions are covered by Courtesy Pay?
  6. How will Courtesy Pay affect other overdraft protection, such as overdraft protection from my savings or line of credit?
  7. What if I don’t want Courtesy Pay?
  8. Can Courtesy Pay be taken away?

1. What is Courtesy Pay?
Courtesy Pay is an added measure of protection that you* can elect to receive for debit card transactions in the event your account does not have sufficient funds to cover these transactions.

*Minor accounts are not eligible to receive Courtesy Pay.

2. How does Courtesy Pay benefit me?
Courtesy Pay is a safeguard for debit card purchases when you do not have enough funds available in your account to cover these transactions. Without Courtesy Pay, these types of transactions would be declined. Courtesy Pay gives you peace of mind knowing that you don’t have to worry about these items being declined if you’re just a few dollars short.

3. How much does Courtesy Pay cost?
Opting into Courtesy Pay is FREE and fees (see fee chart below) will be assessed on a per-transaction basis. In some instances, if you’re a few dollars short, the transaction would go through at no charge to you.

 

Transactions up to $4.99................FREE

Transactions $5 to $9.99................$1
Transactions $10 to $49.99.............$16
Transactions $50 and over..............$28

 

There is a maximum fee limit of $140 per day for debit card Courtesy Pay transactions. However, you will not be charged a fee, regardless of the amount of the transaction, if the debit card transaction results in a negative available balance less than $5.


 

4. Why do I have to opt-in or opt-out?
Due to current regulations, it is necessary that you opt-in to receive debit card Courtesy Pay, which may cover transactions in the event your account does not have sufficient funds. If you do not opt-in, transactions that exceed your available balance will be declined. You can opt-out at any time.

 

 

5. What transactions are covered by Courtesy Pay?
Debit Card transactions are covered if you do not have sufficient funds in your account. Preauthorized, reoccurring transactions (gym membership, etc.) are not covered.

 

6. How will Courtesy Pay affect other overdraft protection, such as overdraft protection from my savings or Line of Credit?
Courtesy Pay will not affect your current overdraft protection measures. If you do not have overdraft protection or do not have funds available in your overdraft protection account(s), then Courtesy Pay may be used. Schools does not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

 

7. What if I don’t want Courtesy Pay?
Courtesy Pay is elective and you may opt-out of this benefit at any time via phone, by mail or in person. If you choose to opt-out after you have opted-in, there is a waiting period of seven calendar days to opt-in again.

 

8. Can Courtesy Pay be taken away?
Yes. Courtesy Pay can be suspended or canceled by the Credit Union.