Courtesy Pay Overdraft Protection definition

Courtesy Pay Overdraft Protection. Is not a loan, which means we do not engage in credit underwriting as a basis of determining your eligibility for this service. Courtesy Pay is a non-contractual service offered and provided to our members who are in good standing and have a checking account that has been opened for at least 60 days. Courtesy pay has a limit of $500 per eligible checking account. The amount of the resulting overdraft, plus a service fee, will be subtracted from the limit disclosed. The checking account that Courtesy Pay was used on must be brought positive at least once every 30 days if not brought positive Courtesy Pay will be suspended and possibly terminated. We reserve the right to limit participation to one account per household and to discontinue this product at any time. If an item is paid with Courtesy Pay, your account will be overdrawn and negative in the amount of the item paid, plus the service fee. The total negative balance will cause a phantom hold on your draw accounts. A phantom hold is a hold that will not allow you access to your deposits unless the amount deposited is greater than the negative balance. It is your responsibility to correct any negative balance as quickly as possible. Negative accounts have a grace period of seven calendar days to be brought positive, if not, by the end of the seventh day an additional service fee will be assessed. If the seventh day falls on a holiday the service fee will be assessed the following day. If the account remains negative at the end of the 30th day, our normal collection process will begin. For consumer accounts, we will not charge for overdrafts caused by ATM withdrawals or one-time debit card transaction if you have not opted-in to that service; see our Overdraft Service Notice for more information. Your account may have a negative or zero available balance even though funds are actually in your account. This may happen if funds are on hold for any reason. If items are submitted to your account during any time your account has a zero or negative available balance, we may charge you a Returned Item/NSF or Courtesy Pay fee according to our current fee schedule. Fresh Start Authorization: Fresh Start Authorization is a separate account set up to help you pay off your negative checking account balance that was accrued due to our Courtesy Pay Overdraft Protection. In order to qualify you must have direct deposit coming into one of your accounts from any source (e.g., employee, social security). Once enrolled in ...
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Examples of Courtesy Pay Overdraft Protection in a sentence

  • Organizational accounts are not offered Courtesy Pay Overdraft Protection.

  • Copy of contract between city of Bayonne and Robert Bianchi, Esq.

  • Courtesy Pay Overdraft Protection transfers are available for all transaction types except for ATM debits.

  • Except as otherwise agreed to in writing, by covering one or any overdraft, you may be eligible for Courtesy Pay Overdraft Protection Coverage.

  • Tongass Federal Credit Union 0000 Xxxxxxx Xxxxxx, Xxxxxxxxx, XX 00000 907.225.9063• 800.960.8328 • xxx.xxxxxxxxxx.xxx Courtesy Pay/Overdraft Protection Service Notice & Request This Courtesy Pay Overdraft Protection Service Notice and Request outlines information about the overdraft protection service of Tongass Federal Credit Union for your ATM and debit card and your request for such services.

  • Under our standard overdraft practices: • We will charge you a fee of up to $25 each time we pay an overdraft.Your checking account will automatically be enrolled in Courtesy Pay (Overdraft Protection), however if you choose to opt out please fill out the information below and return it to us via mail or fax using the information provided above.

Related to Courtesy Pay Overdraft Protection

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  • Fair Housing Act means the Fair Housing Act, as amended.

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