Courtesy Pay FAQs
Your questions about Courtesy Pay overdraft protection answered.
Courtesy Pay is a special kind of overdraft privilege. Unlike regular overdraft plans, it is not linked to a back up payment source, such as a savings account or a line of credit.
VCCU’s Courtesy Pay works to your advantage and as a protection if you make a purchase or a transaction for more than your available balance.
- for each item we pay with a maximum of up to five per calendar day
- for amounts over $5 (members will not be charged a fee if the amount of the overdraft is $5 or less)
We authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
You may opt-in to receive additional overdraft protection for:
- ATM transactions
- Non recurring Debit card transactions
You may opt-in to receive additional overdraft protection for:
- ATM transactions
- Non recurring Debit card transactions
- Checks and other transactions made using your checking account number
- Automatic bill payments
Yes, Courtesy Pay will cover your account if you overdraw it by any of these:
- Checks and other transactions made using your checking account number
- Automatic bill payments
- ATM withdrawals, up to a $1000 limit, (certain qualifications apply; $500 minimum)
- Non recurring Debit card transactions
The Credit Union will charge a fee of $15* each time an overdraft item is paid up to 5 per day (max $75).
Courtesy Pay is designed as a short term option to cover overdrafts. Once overdrawn, members will have up to 30 days to make a deposit to their account to repay the overdraft.
Members who are unable to repay the overdraft within 30 days should contact the credit union to set-up a payment plan or make other arrangements to repay the amount owed.
* Effective 12/2022 and subject to change. A $15 fee applies for the payment of each overdraft item over $5. We will pay with a maximum of up to five per calendar day (maximum $75); Standard overdraft protection includes checks and other transactions made using your checking account number and automatic bill payments. ATM transactions and non recurring debit card transactions are not covered unless member opts-in for coverage. Coverage up to a $1000 limit; ($500 minimum). Qualifications apply. Members will have up to 30 days to make a deposit to their account to repay the overdraft.
By selecting this coverage, members acknowledge that any deposit made into their checking account after an overdraft occurs will in effect repay the overdraft balance whether the funds are from an automated payroll deposit, social security deposit or other automated deposit or deposit by check.