Jenna, Vice President, Operations
As a non-profit financial institution, we strive to offer you convenient, low-cost options to manage your money. Overdrawing your account can result in two types of fees: Courtesy Pay or Non-Sufficient Funds (NSF).
Non-Sufficient Funds (NSF) Fee
Overdrafts without free overdraft protection or overdrafts that extend beyond your courtesy pay limit will be assessed a per-item, non-sufficient funds fee. The item will be returned, unpaid, to the payee.
Courtesy Pay Fee
Overdraft items may be covered by courtesy pay. Courtesy pay is a service we provide to protect our members from accidentally overdrawing accounts. Even if there is a shortage of funds in your account, courtesy pay may cover your transaction and prevent the hassle and embarrassment of declined transactions or bounced checks. It also helps avoid costly returned item fees charged by merchants and retailers.
Courtesy pay protection for your checks, electronic payments (ACH) and bill pay transactions is included with your account. You must, however, elect to receive courtesy pay coverage for your ATM and debit card transactions. Visit us online to sign up for this additional layer of protection.
We understand that mistakes happen; however, using these convenient services as “short-term loans” can be a more costly form of credit than other options we offer. Here are three tips to achieving responsible money management and avoiding or limiting fees.
1. Monitor Accounts
Good account management is the best way to avoid courtesy pay or non-sufficient funds fees. Closely monitor your available account balance using services like BranchLine online banking, mobile banking or free account alerts. Don’t forget to take into account pending transactions, like checks or recurring and automatic payments. You can setup account alerts in BranchLine to send you an email notification when your balance drops below a specified amount.
2. Overdraft Protection Transfers
As an alternative to courtesy pay, you can designate another Pacific Service CU account to be used in the event of an overdraft. If your checking account is overdrawn, we will automatically transfer funds from an established savings, money market, Visa or other checking account overdraft source. There is no fee for this service.
You can rely on multiple forms of overdraft protection. First, setup your overdraft protection transfer account. In the event that funds are unavailable in your overdraft protection account, we can still offer courtesy pay protection.
If you do overdraw your account, it’s important to deposit or transfer money into the account as soon as possible to cover the overdraft amount, plus any fees associated with the overdraft. A quick deposit or transfer can help you avoid additional overdrafts and fees.
Read more in our Frequently Asked Questions (FAQs) or for help determining which services best suit you, call a member service representative at (888) 858-6878.
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