What is Courtesy Pay?
Courtesy Pay is help for you in case things run a little tight before payday. Overdrafts on your account, up to the limit set by our policy, may be honored by AFCU even if there are not enough funds available in your account at the time of the transaction. Keep in mind the use of Courtesy Pay can be costly to you due to the fees charged. We encourage all of our members to only use Courtesy Pay when absolutely necessary to avoid Courtesy Pay fees.
Austin FCU provides two kinds of courtesy pay:
For checks, automatic bill payments and ACH transactions
We may pay an overdraft for you for a standard courtesy pay fee of $33. Payment of the transaction will minimize fees you would have had to pay for returned items.
Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts, or the amount of the item is too large. If we pay an item, a $33 fee will be charged to your account. If we do not pay an item, the applicable NSF fee will be charged. Click here to see the fee schedule.
For ATM transactions and one-time debit card transactions
You must give us permission to authorize and pay overdrafts for ATM withdrawals and one-time debit card transactions.This can be done by telephone, sending a message through your No-Line banking message center, or clicking here to print the Opt-In form (PDF) and returning it to us by mail or in person. You can also stop by our Main Branch at any time to Opt-In. You may revoke your permission at any time by contacting us in writing or by phone. If you give us permission, we pay overdrafts on ATM transactions and one-time debit cards at our discretion, which means we do not guarantee that we will always authorize and pay an overdraft. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts, or the amount of the item is too large. If we do allow your account to be overdrawn and pay an ATM or one-time debit card transaction, you will be charged a maximum fee of $33.00 per transaction. If we do not authorize and pay an overdraft, your transaction will be declined. You must repay any overdrawn balances within 15 calendar days of the date the account went into courtesy pay status.
How do I know if I'm eligible for this service?
In order to be eligible for Courtesy Pay you must meet the qualifications for a checking account, have a direct deposit, a current address and your account must be in good standing. If you are a new member, your account will be eligible for courtesy pay after 90 days.
How is this different from the overdraft protection I already have on my account?
Standard overdraft transfer protection works by automatically transferring funds available in other accounts you have chosen to link to your account to cover transactions when there arenít enough funds available. There is a $3 fee for this service, and AFCU will always look to use standard overdraft transfer protection before paying overdrafts with Courtesy Pay.
How do I opt out of courtesy pay?
You may remove your account from the Courtesy Pay program at any time, by sending a message through your No-Line Banking message center, or clicking here to print the Opt-Out form and return it to us by mail or in person. You can also stop by our Main Branch at any time to Opt-Out.
If you have other questions or concerns about Courtesy Pay, feel free to contact us.
All Courtesy Pay elections are within the sole discretion of AFCU, and we have no contractual obligation with our membersí to pay or transfer any NSF item/transaction. Courtesy Pay is an optional service that we may provide as set forth herein to members in good standing. Courtesy Pay is not an entitlement, it is not a loan, and may be discontinued or denied at any time even though we have paid such items at other times. The Courtesy Pay program does not release you from your obligation to pay your debts including any amount by which your accounts may be overdrawn. Further, Courtesy Pay does not affect or limit the Credit Unionís other rights/options regarding NSF transactions under our other policies, procedures and applicable laws. Pursuant to your Membership Agreement, the Credit Union retains discretion to decide which items to pay. AFCU may revoke the privilege at any time without notice.