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Courtesy Pay
We understand that life happens and sometimes you may overdraw your checking account. In such cases we may decide to honor checks and other electronic means for which there are insufficient funds. This is our discretionary Courtesy Pay Service. We provide the Courtesy Pay Service as accommodation to you and are not obligated to do so, even when we have done so in the past. By default, at account opening, the standard Courtesy Pay service that comes with your account will strive to authorize and pay items such as checks and payments that use the account and routing number. However, it will not cover ATM withdrawals and everyday debit card transactions unless you give affirmative consent (opt-in) for us to do so.
By participating in the program, we may honor overdrafts, including checks, automated debits (ACH), point-of-sale (POS) transactions, MasterCard Debit Card transactions, and ATM withdrawals up to your assigned Courtesy Pay limit.
Unless we currently have your affirmative consent (opt- in), we will not be able to approve your overdrafts for ATM withdrawal and everyday MasterCard Debit Card transactions. You must tell us you want overdraft coverage for these transactions. To request overdraft coverage for your ATM withdrawal and everyday MasterCard Debit Card purchases, you may contact us at (760) 337-4200 and we will send you the Courtesy Pay Consent Form to be e-signed (email required) or you may visit any of our branch locations to sign the form in person.
When an overdraft is covered, the account will be taken negative by the dollar amount of the overdraft plus the amount of the Courtesy Pay fee. The maximum dollar amount of overdrafts plus the Courtesy Pay fee we will cover for each member varies based on the assigned system generated Courtesy Pay limit.
When we honor overdraft items, you must deposit funds immediately, however in no case more than forty-five (45) days from the date the account went negative. If you fail to cover the total overdraft amount within forty-five (45) days, we may close your account and pursue all collection options available to us. We may, but are not obligated to, transfer funds from other accounts you have with us to cover the overdraft.
The Courtesy Pay Service fee is a flat fee charged regardless of the transaction amount or the amount the account is overdrawn and will be charged for each overdraft item presented and paid. The charge for Courtesy Pay Service is stated on the Fee Schedule.
The Courtesy Pay Service Fee is assessed on your available balance, not your balance. Your available balance takes into consideration such items as, but not limited to, pending transactions, preauthorization holds, and holds placed on a deposit.
- For example, Assume your actual and available balance are both $40, and you use your debit card at a restaurant to pay your bill totaling $30. If the restaurant requests authorization in the amount of $30, an authorized hold is placed for $30 in your account. Your available balance is only $10, but the actual balance remains $40. Before the restaurant charge is sent to us for payment, a check that you wrote for $40 is presented for payment. Because your available is only $10 due to the $30 authorization hold, your account will be overdrawn by $30 when the check transaction is posted to your account even though your actual balance is $40. This example, if we pay the $40 check in accordance with our standard overdraft service, we will charge you a fee for overdrawing your account as disclosed in the Fee Schedule. The fee will also be deducted from your account, further increasing the overdrawn amount. In addition, when the restaurant charge is finally submitted to us for payment, we will release the authorization hold and pay the transaction amount to the restaurant. The transaction amount may be $30 or a different amount (for example, if you added a tip). Even though the amount of the restaurant charge exceeds your available balance at the time the charge is settled (i.e., at the time the merchant or its financial institution requests payment or the transaction posts to your account), we will not charge you a fee for overdrawing your account since you had a sufficient available balance in your account at the time the restaurant charge was authorized and approved.
Courtesy Pay is a discretionary service, which means we do not guarantee that we will authorize and pay any type of transaction. We encourage you to properly maintain your accounts with us. You agree we will not be held liable for either paying or refusing to pay any overdraft item. We reserve the right to discontinue this service at any time without any notice.
If you decide to opt out of Courtesy Pay, you must inform us by using any one of the following methods: in person; by calling us at (760) 337-4200; or by sending a written notice to Sun Community Federal Credit Union, P.O. Box 4210, El Centro, CA 92244-4210.
