Sometimes
our busy schedules can result in a missed
deposit or mistake in our checkbooks.
That?s why Community South Credit Union is
pleased to offer Courtesy Pay. The
Courtesy Pay Program is a valuable member
benefit established to help protect your
checking account in case of an overdraft.
Courtesy
Pay is designed for members of Community
South Credit Union that are in good standing
and meet certain requirements. The
Courtesy Pay Program does not replace the
existing overdraft protection resulting from
the available balance in your savings
account, but provides a secondary source of
protection.
With
Courtesy Pay, you may avoid many of the
costly fees resulting from insufficient
funds, such as returned check fees from
merchants and their collection agencies.
Courtesy Pay may also protect your credit
rating and save you from the embarrassment
of checks being returned.
Courtesy
Pay overdrafts your checking account to pay
check, debit card, BillPayer, ACH Debit, ATM
and other transactions presented for
payment from your account which would
otherwise be rejected or returned due to
insufficient funds. CU By Phone
transactions are not covered through
Courtesy Pay. In order to pay eligible
transactions through Courtesy Pay, your
account will be overdrawn and become
negative.
The
initial maximum Courtesy Pay limit for each
account is set at $500 including any
Courtesy Pay fee imposed on your account.
The Courtesy Pay fee will be equal to the
NSF fee per item set forth in the credit
union?s fee schedule.
The
Courtesy Pay Program is automatically added
to your account once you meet the following
requirements: you are at least 18
years of age or older, your account has been
open for at least 90 days, your account has
had a positive balance within the last 30
days, You do not have any loans more than 30
days delinquent and you have had an
automated direct deposit within the last 45
days,.
A
notification letter will be sent to you if
Courtesy Pay has been added to your account.
You do have the opportunity to opt-out of
the Courtesy Pay program, however any items
presented for payment may be returned if
there are not sufficient funds in the
account. There will also be applicable
NSF fees accessed. Please contact the
credit union at (850) 638-8376 if you choose
to opt-out of Courtesy Pay.
For each
overdraft paid through Courtesy Pay, you
will receive a notice describing the
transaction and fee imposed. Your
checking account must return to a positive
balance as soon as possible, but no later
than 30 days following the paid overdraft.
If your account remains negative in excess
of 31 days, your Courtesy Pay privilege will
be revoked. Legal action may be taken if a
payment arrangement is not worked out.
