Courtesy Pay Privilege
Overdraft Protection and Courtesy Pay Privilege are designed to prevent checking account transactions from being rejected due to non-sufficient funds (NSF). Overdraft Protection allows funds to be transferred from a designated credit union savings or checking account to pay otherwise rejected items due to NSF. If there is not enough money available in the accounts, the payment will be rejected resulting in multiple fees from the credit union and the merchant not receiving the payment – unless Courtesy Pay Privilege is applied.
Courtesy Pay Privilege and Courtesy Pay Privilege Plus are two forms of Overdraft Protection offered by Sun East.
The Courtesy Pay Privilege and the Courtesy Pay Privilege Plus services are available to certain account holders in “good standing.” These features are not available on all account types.
To be in “good standing” you must:
- Make regular deposits sufficient to cover transactions.
- Bring the account to a positive balance at least once every thirty days or less.
- Have no legal orders outstanding on your account.
- Have no default on any Sun East loan obligation.
Both features are available immediately upon activation of a new account. During the first 30 days of account opening, an overdraft limit of $150 will be set. After an account has been open for 30 days, the limit will be set based off your average deposit activity.
Courtesy Pay Privilege
Courtesy Pay Privilege is a standard feature that is included for all new business and personal accounts at the time of new member account activation.
- It is a free benefit that comes with the account. You only pay a fee if you have to use it for life’s unexpected expenses.
- Courtesy Pay Privilege covers checks, Bill Pay and ACH transactions.
- There is a fee, but the credit union will not return the item to the merchant.
The payment will be covered in full through this service for a fee of $36. Courtesy Pay Privilege allows your payment to go through if there is not enough money in your account to cover the payment. We charge a Courtesy Pay Privilege fee for every transaction covered by Courtesy Pay Privilege. We determine whether you have enough money in your account based on the available balance. The available balance is the ledger balance, minus any holds on deposited funds (See our Deposit Availability Policy) and holds placed on debit card transactions, plus the Courtesy Pay Privilege limit or, if you opted in, the Courtesy Pay Privilege Plus limit. Holds placed on your account pursuant to our Deposit Availability Policy will reduce your available balance.
After the credit union makes the overdraft payment, the member must make a deposit within 30 days from the date of the payment to bring the checking account into a positive balance, including the $36 fee.
Courtesy Pay Privilege may be removed from the account if a member fails to bring the account into the positive within 30 days.
Courtesy Pay Privilege will be reinstated if the account is positive for 45 days.
This is not a loan as there is no interest charged.
Courtesy Pay Privilege Plus
Courtesy Pay Privilege Plus adds the benefit of allowing Debit Card purchases at any Point of Sale (POS) terminal. Great for when you’re in a pinch and need gas, food, or a tow.
Courtesy Pay Privilege Plus is an additional service that requires the member to “Opt In” and allows Sun East to authorize and pay overdrafts on their everyday debit card and ATM (POS) purchases.
- In Case of an Emergency
Technology breaks down, things get lost, and having that extra life-line could prove to be helpful in a pinch. Never feel stranded!
- Measure of Protection
While Overdraft Protection helps if you don’t have the money in the overdrawn account, if there isn’t money available at all, Courtesy Pay Privilege comes to the rescue.
- Protect Your Credit
Using these services will not affect a person’s credit score, but may help prevent credit damage from a late payment.
If you would like to change your decision, you can easily do so by completing this DocuSign Courtesy Pay Privilege Plus Opt-in Form in a few minutes online.
Amount available to a member can vary daily. It is based upon the members average monthly deposit activity. For a more detailed description of the policy, please check the Depository Agreement – Available in Online Banking and on the Mobile App.