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Courtesy Pay is an overdraft service we offer to pay items when your checking account balance does not have sufficient funds. Instead of returning the transaction to the merchant for non-sufficient funds (NSF), we may pay it and overdraw your account.
Courtesy Pay covers life's unexpected emergencies and saves you from merchant NSF fees, interruption of services and the embarrassment and inconvenience associated with returned or declined items.
Overdraft Protection Transfer and Courtesy Pay are two completely separate overdraft services offered by UFCU.
Overdraft Protection Transfer allows funds to be transferred from a previously linked UFCU account, such as savings, money market or a line-of-credit, to pay an item. Overdraft Protection Transfer will NOT allow the account to overdraw (go into a negative balance) to pay an item. Overdraft Protection Transfers are subject to Federal Regulation D, meaning you can only have 6 electronic transfers from a savings or money market account per month for protection. Notify us which account(s) you wish to designate for Overdraft Protection Transfer.
Courtesy Pay is a service which pays items which would otherwise be returned as NSF if the funds are not available in your account or overdraft protection transfer can no longer protect you. If you have established an Overdraft Protection Transfer source, we will attempt to pay an overdraft using this method before paying your overdraft utilizing Courtesy Pay.
You receive a $100 Courtesy Pay limit when your account is opened. After 90 days, your Courtesy Pay limit is based on the type of checking account you have.
There is a per item fee each time an item is paid through Courtesy Pay (see Fee Schedule). The cost is $35.00 per use.
Courtesy Pay is automatically activated after your checking account is opened for the following types of transactions:
We do not authorize and pay overdrafts utilizing Courtesy Pay for debit card signature-based transactions unless you opt-in for this service.
Transactions are posted in the order they are received. Processing methods vary dependent upon the way the transaction is received; i.e. ACH and Bill Pay have different processing times. Please contact UFCU for more information.
In the event that you do not have enough funds in your checking and you have linked shares for Overdraft Transfer Protection, UFCU will pull the money from your linked shares to cover that transaction at no charge to you. If the linked shares do not have sufficient funds to cover the transaction, and you have opted for Courtesy Pay on your account, then UFCU may pay the difference and charge a $35.00 fee for each new transaction that brings the checking more negative.
Your available balance reflects any preauthorization holds or deposit holds and is used to determine available funds when future transactions attempt to clear the account.
The balance we use internally as transactions clear is called your actual balance or total balance and includes all items that have cleared the account up to that point. This actual balance does not include outstanding debit purchases, share drafts (checks), or automatic drafts. If funds are not sufficient in the actual balance at the time of clearing, an overdraft fee is charged for each transaction that attempts to clear.
Your actual balance includes items that have not yet cleared your account such as checks written and not cashed and debit-card pre-authorization holds.
We understand you may need to make a transaction that exceeds your balance in your checking account due to unforeseen circumstances or an unexpected emergency. While some financial institutions have decided to not allow anyone to opt-in to Courtesy Pay for debit card signature-based transactions, UFCU firmly believes in giving our members a choice.
There are many reasons why you might want to opt-in to Courtesy Pay for everyday debit card signature transactions, including:
Items may be paid; however misuse of this service will result in termination of those services. This means we do not guarantee we will always authorize and pay any type of transaction when there is not enough money available in your checking or designated overdraft protection accounts to cover the item.
Currently, UFCU offers Courtesy Pay for debit card signature-based transactions performed without using your PIN (Personal Identification Number).
Complete and submit the Debit Card Courtesy Pay Opt-In Form via Online Banking.
If you are not enrolled in Online Banking, you may contact us or complete this form and drop it off at any of our financial centers or mail it to: UFCU, Attn: Payment Services, PO Box 9350, Austin, TX 78766-9350.