We all make mistakes, right? Should you happen to overdraft your account, we offer a discretionary service called Courtesy Pay. An overdraft occurs when the available balance in your account is insufficient to pay incoming transactions. Specifically, the available balance is your actual balance less: (1) holds placed on deposits, (2) holds on debit card or other transactions that have been authorized but are not yet posted, and (3) any other holds. With Courtesy Pay, transactions may be paid, even when funds aren’t available in your account. Think of it as a safety net for those awkward moments when your checkbook balancing skills get a little out of balance, or an unexpected expense hits.
There is no fee for this service unless you use it. We will generally pay overdrafts up to a discretionary limit based on your account history and performance. A per item fee of $30 is charged each time we cover a transaction through Courtesy Pay1. If we do cover a transaction, you’ll have 30 days to deposit the money needed to clear your negative balance. It’s a great service that can give you peace of mind, but we hope you never actually have to use it.
Courtesy Pay will strive to pay for overdrafts on these kinds of transactions:
- Checks (if issued with the account)
- ACH or recurring debit card transactions, like health club dues, insurance premiums, etc.
- Automatic bill payments
For ATM transactions and your everyday debit card transactions, we’ll need your authorization before we can strive to pay any overdraft. You’ll have to opt-in, which you can do by visiting a branch or calling 1.888.AVADIAN (1.888.282.3426). Click here for more information.
Fees reduce the amount of the Courtesy Pay limit. More than one overdraft fee may be charged against the account per day depending on the number of checks, point of sale transactions, or withdrawals presented. Consumer transactions may be processed in any order. The Credit Union does not guarantee that we will always authorize and pay any type of transaction.
We’ve compiled a number of scenarios to show how Courtesy Pay works and the benefits of having it.