How can I avoid overdrafts?
The best way to avoid overdrafts is to keep an accurate transaction register and balance it to your monthly statements. Be sure to record automatic payments, bill pay transactions, check card purchases, and ATM withdrawals. You can use helpful sources such as Online/Mobile Banking and Telephone Teller for transaction information. However, these sources do not...Read More
How long does the account have to stay current?
You must remain current for one business day or 24 hours for the system to recalculate the days overdrawn.Read More
What does it mean to “bring the account current”?
Bring the account current is making a payment to pay any overdraft owed.Read More
How will the credit union collect the Courtesy Pay balances?
The Courtesy Pay service is discontinued if the share is not brought current within 30 days. If the negative balance is not resolved within 45 days, the account is restricted and the negative balance will be recommended for charge off. Fees owed and the CP balance will be reported to Chex Systems.Read More
When does the clock start running?
The clock begins with the date of the first overdraftRead More
What kind of notices will the member receive if their account is overdrawn?
The system will generate a notice for each paid item that overdraws the S4, showing that the item has been paid through Courtesy Pay. If you have an email address on file, we will email the notice to you. Otherwise, the notice will be printed and mailed. Additional warning or collection letters will be generated...Read More
When do members have to repay the overdraft?
Any overdraft amount, plus our per-item Courtesy Pay fee(s) is due immediately. Any deposits a member makes will first be applied to any overdrawn balance.Read More
Is Courtesy Pay taken into account when verifying available funds? For example, if a merchant calls to verify funds on a check?
No. The system does not show the Courtesy Pay Limit and, therefore employees cannot verify its availability for a merchanRead More
What is the posting order of transactions?
We post transactions in the order set out in our Checking Account AgreementRead More
How is the account balance determined?
We authorize and pay transactions using the available balance in your account. The available balance is the ledger balance (collected funds) minus any debit card holds. As such the available balance does not include any deposited funds on hold. We may place a hold on deposited funds in accordance with our Savings and Checking Account...Read More