What You Need to Know About Overdrafts and Overdraft Fees and our Overdraft Protection Policy
An overdraft occurs when you do not have enough money in your account to cover a transaction. Sun East can cover your overdrafts in two different ways:
- We offer Courtesy Pay Privilege, our discretionary overdraft service, which comes with some accounts. Accounts must meet certain requirements to be eligible. See the Depository Agreement and Disclosures for details.
- We also offer overdraft protection plans, such as a link to a savings account or an overdraft line of credit, which may be less expensive than our standard overdraft practices.
Explanation of our Standard Overdraft Practices:
What are the standard overdraft protection practices that come with my checking account?
- We do authorize and pay overdrafts for the following types of transactions through our Courtesy Pay Privilege service:
- Checks and other transactions made using your checking account number
- Automatic bill payments (ACH)
- We do not authorize & pay overdrafts for the following types of transactions, unless you opt-in to our Courtesy Pay Privilege Plus service:
- Everyday debit card transactions
- ATM transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.
We will send you a notice each time an overdraft occurs. You then have 30 days to bring the account current to remain eligible for the Courtesy Pay Privilege/Plus service.
What fees will I be charged if Sun East pays my overdraft?
Under our standard overdraft practices, we will charge you a fee of $36 each time we pay an overdraft. There is no limit on the total fees we can charge you for overdrawing your account.
• Please Note: Sun East charges $36 for Non-Sufficient Funds (NSF) checks and ACH items, even if we do not pay your overdraft through Courtesy Pay Privilege.
What if I want to opt out of Sun East’s Courtesy Pay Privilege program?
At any time, you may choose not to participate in Sun East’s Courtesy Pay Privilege by notifying any Sun East member service representative.
What are my choices regarding Courtesy Pay Privilege Plus service?
- Opting In: You choose to allow Sun East the opportunity to authorize and pay overdraft transactions involving everyday debit card and ATM transactions at our discretion even though you may not have enough funds available at the time. You can opt in by downloading the Courtesy Pay Privilege Plus Opt In form and mailing it to Sun East or dropping it by a Sun East branch location; or clicking the “UPDATE DECISION” button below.
- Choosing Not to Opt In: Any everyday debit card or ATM transaction you make will be declined at the point of sale if you do not have enough funds in your account to cover the transaction.
- Changing Your Decision: If you would like to change your decision, you can easily do so by downloading the Courtesy Pay Privilege Plus Opt In form and mailing it to Sun East or dropping it by a Sun East branch location; or clicking the “UPDATE DECISION” button below.