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- Protection from the embarrassment
of returned checks
- Protection from merchant
returned check charges
- Protection from collection agency fees
- Protects your good credit rating
Carolina Collegiate Federal Credit Union offers
Courtesy Pay, a new member service that protects
your account. We require no applications or
additional signatures. Courtesy Pay is simply a
way for us to provide a higher level of service to
our members by helping to protect your account
and reputation when an inadvertent overdraft occurs.
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WHAT IS COURTESY PAY?
Courtesy Pay is a new service that adds a measure of protection to your
personal checking account. Courtesy Pay may cover your insufficient
funds checks, up to your approved limit, for one low fee per covered
overdraft transaction. That means, instead of returning a check to the
merchant because of insufficient funds, the credit union may pay your
check, saving you additional charges from the merchant collection
companies, in addition to the credit union's insufficient fund fee. It saves
you the embarrassment an inadvertent overdraft can cause. It also helps
protect your credit rating.
HOW DOES COURTESY PAY WORK?
Overdrafts on your checking account, up to a limit of $500 [including the
amount of the overdrawn item(s) and the Courtesy Pay fee(s)] may be
honored by Carolina Collegiate Federal Credit Union. A $32 fee will be
assessed for each item that draws your account negative. You then have
up to 30 days to bring the account current, either through a direct deposit,
transfer of funds, or a deposit at one of our branch offices.
WHAT IF I ALREADY HAVE OVERDRAFT PROTECTION?
If you have established other overdraft protection methods, such as a line
of credit or automatic transfer from your other accounts, we will always
look to pay any overdraft by those other methods first before paying your
overdraft utilizing Courtesy Pay and imposing a $32 fee for each overdraft
we pay.
DO I HAVE TO APPLY FOR THIS SERVICE?
No. We require no applications or additional signatures. As long as you
are a member in good standing which includes having an account with us
for at least 90 days, you make regular deposits to that account, bring your
account back to a positive balance regularly, and there are no legal orders
against the account, your Courtesy Pay privilege remains activated.
HOW CAN I ACCESS COURTESY PAY?
Overdrafts may be paid utilizing your Courtesy Pay funds up to the limits
mentioned above for the following types of transactions:
- Checks
- POS/Debit Card Transactions
- Electronic Transactions
- Bill Payer
- On-Line Banking
- Automatic Internal Loan Payments
- ATM Withdrawals.
We strongly recommend that you first perform a
balance inquiry before making an ATM withdrawal. Should you request
a withdrawal that draws your account into the negative, the ATM may
honor that request by drawing on your Courtesy Pay limit and/or any
other overdraft protection you may have with the Credit Union. The ATM
receipt will show the amount withdrawn. It may not indicate your
withdrawal has taken your account negative or accessed Courtesy Pay
and/or other overdraft protection funds, or charged a fee.
Courtesy Pay is a way for us to provide a higher level of service to
our members by helping protect your account and reputation when an
inadvertent overdraft occurs.
CALL US FOR MORE INFORMATION
We are happy to review Courtesy Pay and its features with you, along
with giving you other options to add convenience and ease to your
account. Please call us at (803) 227-5555 or 1-800-476-5861.
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