What is Courtesy Pay? Courtesy Pay is a benefit of your personal checking account. The service will provide up to $1000 in Courtesy Pay on qualified checking accounts opened at least 3 months and maintained in good standing.
How will Courtesy Pay benefit me? Courtesy Pay will save you the embarrassment and expense of returned checks when you make an honest mistake in your checkbook, have unplanned expenses, or run short on cash between paydays. Instead of returning checks unpaid, we may automatically pay them for you, up to $1,000.
How does Courtesy Pay work? When we receive an item for payment that causes the balance in your account to go below zero, we may pay the check or debit up to $1,000 including the Courtesy Pay fee.
Is Courtesy Pay a loan? No. It is a service provided by the credit union to help you manage your money. This service can be withdrawn at any time by the credit union.
Do I have to apply for this service? No. Courtesy Pay is automatically added to your account as long as it meets the requirements of our Courtesy Pay Policy.
How will I know when I am overdrawn? We will mail you a notice when your account is overdrawn.
What if I go over my Courtesy Pay limit? When you exceed the Courtesy Pay limit, any additional items will be returned or declined when presented for payment.
Is there a charge for Courtesy Pay? Courtesy Pay does not cost anything unless you use it. If you overdraw your account by using Courtesy Pay, we will assess a $25.00 Courtesy Pay fee for each item paid. Items that exceed the Courtesy Pay limit of $1,000 (including Courtesy Pay fees) will be assessed a $25.00 insufficient fund fee for each item and returned as NSF.
What type of transactions qualify for the Courtesy Pay service? If you inadvertently overdraw your account, Courtesy Pay may cover preauthorized debits (ACH), bill payer items and share drafts not presented over the counter at a WSFCU branch or shared branch outlet.
Can I use Courtesy Pay to pay a WSFCU loan payment? No. You cannot use Courtesy Pay to meet this obligation.
What if I do not want Courtesy Pay? We can change your account status so that no overdrawn items are paid using the Courtesy Pay service. If you opt out of the Courtesy Pay service, any future overdrawn items presented for payment against your account will be returned unpaid and a $25.00 NSF fee will be assessed after funds for overdraft protection (if applicable) have been depleted. You may also be charged additional fees by the merchant/payee. Carefully consider your decision to opt out of this program.
Does WSFCU offer traditional overdraft protection? Yes. WSFCU members can choose one or both of the following overdraft protection options:
- Transfer from primary share account and/or
- Transfer from another share account and/or
- Advance from an overdraft line of credit
If you do have Overdraft Protection on your account, it will use whatever account(s) you have set up, in the order you arranged. Then, if you have qualified for Courtesy Pay, it will default to that service.
What is the difference between Overdraft Protection and Courtesy Pay? Overdraft Protection allows funds to be transferred from a previously designated account to pay an item. Overdraft protection will NOT allow the account to overdraw (go into a negative balance) to pay an item. A line of credit can be set up to be used for overdraft protection. In order to receive a line of credit, you must complete an application and receive credit approval.
Courtesy Pay is a non-contractual courtesy, offered at the sole discretion of the credit union, to members who maintain their Share Draft accounts in good standing. Any Courtesy Pay amount covered by WSFCU in the Courtesy Pay process is NOT considered an account holder loan and is not subject to interest being charged. Each overdraft item that is paid is subject to the Courtesy Pay fee.
Overdraft Protection and Courtesy Pay are two completely separate services offered by WSFCU.
I thought I had Courtesy Pay. Why did you return my check as an NSF? Remember, the Courtesy Pay maximum is $1000, including all Courtesy Pay fees. Items are returned NSF if you go over the amount or if you have been taken off the list because you did not rectify your account balance. Courtesy Pay can be taken away if WSFCU determines your account is no longer in good standing. The credit union is not obligated to honor any future Courtesy Pay items, even though it may have previously been approved as a Courtesy Pay item.
How long do I have to bring my account into balance? Generally speaking, you should bring your checking account to a positive end-of-day balance as soon as possible and certainly within 20 days. However, depending on the situation, we can ask for repayment at any time. Any deposit that is made will automatically be applied to any overdrawn balance and associated fees first .
What happens if I cant bring my account(s) to a positive balance? Your Courtesy Pay will be suspended or revoked until the account is returned to good standing, regardless if you've reached the $1,000 limit or not. If your account balance is negative for 30 days, you could lose your checking privileges at Western Sun Federal Credit Union.
Please contact TJ or Gretchen for payment arrangements at (918) 362-1400.
HOW TO QUALIFY: Enrollment in Courtesy Pay is automatic for those members who qualify. Requirements include, but are not limited to:
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You must be at least 18 years old
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You must have had your checking account opened for a minimum of 3 months and in good standing
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You have a minimum total deposit of $400 a month into your WSFCU share draft (checking) account
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You do not have any written off or delinquent loans
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You do not have any tax levies
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Your account must be brought to a positive balance at least once every twenty days
Payments made on behalf of members are at the discretion of Western Sun Federal Credit Union. Courtesy Pay program requirements and procedures may be changed or withdrawn at any time without contact. Members will be removed from the Courtesy Pay program if they do not meet the above requirements.
Beginning August 2, 2004, WSFCU will begin servicing our members who qualify with Courtesy Pay. With this service, WSFCU may pay any overdrawn checks on your share draft (checking) account, saving you from the embarrassment and additional fees that accompany bouncing checks. Courtesy Pay protects your checking account, even if you don't have Overdraft Protection because WSFCU may pay the item(s) as a Courtesy to you. Below are Frequently Asked Questions about the Courtesy Pay service.
