At times, life can be unpredictable and cause us to lose track of our expenses or account balances…
Having a check or other payment returned due to insufficient funds can be costly and inconvenient. That’s why we provide Courtesy Pay, an overdraft service for Enfield Community FCU’s accountholders.
What is Courtesy Pay?
Courtesy Pay is a discretionary, noncontractual overdraft service that provides you with a safety net up to an automatically assigned overdraft limit.
The Courtesy Pay limit may be available for checks and other transactions made using your checking account number, such as a teller withdrawal, an automatic (ACH) payment transaction, automatic bill payment or a recurring debit card payment. If you request us to do so (opt in), we may authorize ATM and one-time debit card transactions by using your available balance and your Courtesy Pay limit.
How does Courtesy Pay work?
There are several ways your account may become overdrawn or be subject to an NSF transaction, such as (1) the payment of checks, electronic funds transfers or other withdrawal requests; (2) payments authorized by you (i.e. debit card at point of sale); (3) the return of unpaid items deposited by you; (4) charges by us pursuant to the terms and conditions of your account; or (5) the deposit of items which, according to the Funds Availability Policy, are treated as not yet available.
As long as you meet eligibility requirements, we may approve your overdraft items within your unused Courtesy Pay limit as a non-contractual courtesy.
You should make every attempt to bring your account to a positive end-of-day balance as soon as possible and must do so within [30] calendar days. If you are unable to do so, you will receive notice from Enfield Community FCU informing you that your Courtesy Pay coverage has been suspended, and additional items will be returned. Your limit will be reinstated to cover overdrafts again the first business day after your account is returned to “good standing”, unless we advise you differently or you request this service be removed from your account.
We may refuse to pay an overdraft item even though we may have previously paid overdrafts for you. For example, we typically do not pay overdraft items if your account is not eligible as defined in our Courtesy Pay Terms and Conditions or if you have exceeded your limit. [You will be charged a [returned item NSF fee] of [$29.00] for each item returned.]
What does my Courtesy Pay cost?
There is no additional cost associated with Courtesy Pay unless you use it. If you do use the overdraft limit, you will be charged our [paid item OD fee] of [$29.00] for each overdraft item created by checks and other transactions made using your checking account number, such as a teller withdrawal, an automatic payment (ACH) transaction, automatic bill payment, or recurring debit card payment.
For consumer accounts, we will not honor ATM and one-time debit card transactions that would overdraw your account unless you opt in to coverage for these transactions. If you opt in, we may authorize ATM and one-time debit card transactions by using your available balance and your Courtesy Pay limit. A [paid item OD fee] of [$29.00] will be charged for each ATM and one-time debit card transaction that is authorized and posts against insufficient funds. Your [ledger] balance at the time these transactions post will determine the assessment of fees. Other intervening transactions may result in previously authorized transactions posting against an insufficient balance. Please refer to the Courtesy Pay Terms and Conditions, Understanding Your Balance, for more information on how your balance is calculated.
How can I add Courtesy Pay for ATM withdrawals and one-time debit card purchases?
If you have not opted in to coverage for ATM and one-time debit card transactions and you would like to, or if you would like to revoke your previous authorization, please link to opt-in form, call [860-253-5100 during business hours, or visit one of our branches.
What is my Courtesy Pay limit? If I have two checking accounts, can I get Courtesy Pay on both?
New accounts will not be eligible for Courtesy Pay at account opening. After your account is open for 30 days, an overdraft limit may be assigned based on eligibility criteria. Locate your account type to reference the corresponding limit.
All Checking ……………$ 500
*excludes Teen Checking Accounts*
If you have more than one account, all eligible accounts will be assigned a limit.
Are other overdraft protection options available?
Yes, we also offer overdraft protection when you link to your savings or checking account(s), which may be less expensive than Courtesy Pay.
What if I do not want to have Courtesy Pay on my account?
If you would like to (1) remove Courtesy Pay coverage entirely or (2) revoke your previous authorization for ATM and one-time debit card transactions coverage, please call 860-253-5100 or visit our branch. Even if coverage is removed, insufficient items and associated fees and charges
may still apply. You may remove Courtesy Pay coverage from your account at any time, but you are responsible for any overdrawn balances.
Opt in to extend Courtesy Pay coverage for ATM and one-time Debit Card transactions: Click Here