Sometimes things do not go as planned and you may find that there are not enough funds in your checking account to cover a check, or you discover that you've made a mistake in your checkbook. Courtesy Pay is available for situations like these. Ascentra Credit Union offers Courtesy Pay as a non-contractual courtesy to cover checks and automatic electronic payments that overdraw your checking account. For each check or other item that Ascentra Credit Union pays, there is a $29.50 transaction fee per item.
Benefit of Courtesy Pay
- Avoid addition Non Sufficient Funds fees added by merchants.
- Save the embarrassment and inconvenience of bouncing a check.
Eligibility for Courtesy Pay
Members, ages 18 and older, are eligible for the Courtesy Pay privilege with the following exceptions:
- Anyone who has caused a financial loss (charge off) to the Credit Union;
- Anyone with a past due loan or VISA payment with Ascentra Credit Union;
- Anyone who is currently enrolled in a debt management program.
- All estate, rep-payee, & nonprofit accounts.
Accounts that are Covered by Courtesy Pay
All checking accounts offered by Ascentra Credit Union are eligible for Courtesy Pay provided that the account holder meets the eligibility requirements listed above. Courtesy Pay privileges may be extended for the following types of transactions:
- Checks clearing through the Federal Reserve
- Checks clearing over the teller counter
- Automated Clearing House (ACH) payments
- Debit card Transactions (with member opt-in)
- Courtesy Payment privileges cannot be used to cover overdrafts that might result from an automatic transfer between accounts at Ascentra Credit Union, or to make automated teller Machine (ATM) withdraws.
Other Types of Payment Protection Used First
If you are currently signed up for overdraft protection from another Ascentra Credit Union deposit accounts or a line of credit, Courtesy Pay will not be used to pay a draft unless there are insufficient funds available in that deposit account or line of credit.
Courtesy Pay Limits
Members that qualify for Courtesy Pay receive a minimum limit of $500 in overdraft balances. Based on other various factors (deposit levels, length of membership, date since last deposit) your limit may be greater and may fluctuate.
Once your Courtesy Pay has been activated to cover and overdraft, it is your responsibility to correct an overdraft and to correct any balance deficiency as quickly as possible. Ascentra Credit Union expects you to bring your account balance positive within 30 days. After that time, our normal collection process begins. Courtesy Pay can be taken away at any time Ascentra determines that the account is no longer in good standing (such as, but not limited to, difficulty in collecting a negative account or no deposit made within 30 days to bring account back to a positive balance). Once Courtesy Pay has been cancelled, Ascentra Credit Union is not obligated to honor any future overdrafts, even if they had previously been paid by courtesy pay.
Joint Owner Liability
If Ascentra Credit Union pays an overdraft on an account with more than one owner on the signature card; each owner (or agent of the owner) is jointly and severally liable for payment of the overdrawn amount plus any Courtesy Pay fees.
Social Security Payments
Members receiving direct deposit of their social security payment into their checking account who do not want Courtesy Pay eligibility must advise Ascentra Credit Union, in writing, to discontinue paying overdrafts with these funds. Generally, this will require the member to opt out of the Courtesy Pay program.
No Sign Up Necessary (with one exception)
Ascentra Credit Union automatically provides this service to our members with the exception of debit card overdrafts (as required by law). If for some reason you decided that you would rather not have Courtesy Pay privileges, please let us know by contacting us at (563) 355-0152 or (800) 426-5241 or email us through our secure email at ascentra.org.
All members are strongly encouraged to monitor their account via our free Digital Banking (ascentra.org).
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