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Protect your checking accountoverdraft

It’s smart to have the security of overdraft protection on your checking account in the event of an occasional oops that causes you to exceed your available checking account balance, and First Service has you covered with two options:

Overdraft Protection

Overdraft Protection creates an extra line of defense for your checking account. Use your savings account or line of credit to protect your checking account against the chance that you accidentally overdraft your account and to prevent your transactions from being declined. You’ll never have to worry about non-sufficient fund (NSF) fees again.*

All you have to do is link a savings account or line of credit to your checking account. If you accidentally overdraw your checking account, we’ll automatically transfer the needed funds from your designated draw account to protect you from declined transactions and overages. It’s a simple action that goes a long way.

Visit a branch location or give us a call today to set up Overdraft Protection.

Courtesy Pay

We know things don’t always go as planned. That’s why Courtesy Pay has you covered when you need it most. If you accidentally overdraw your account between paychecks or from unforeseen expenses, First Service may pay for your transaction up to your qualified amount. Courtesy Pay allows you to avoid the merchant fees and inconvenience of having a card declined or having a check or ACH transaction bounce from insufficient funds. While it is not an invitation to overdraw your account, Courtesy Pay provides an extra layer of protection in case a mistake happens or an emergency comes up.

Courtesy Pay may automatically cover checks and ACH transactions. If you would like Courtesy Pay to pay one-time debit and ATM transactions, all you have to do is opt in. There is no charge for having the Courtesy Pay feature unless it is utilized. Otherwise, it costs $30 for each transaction covered.** Please note, this is an optional service and you can opt out at any time.

Requirements for Courtesy Pay:

  • Age 18 or older
  • Qualifying checking account in good standing (Excludes Money Market and Fresh Start Checking)
  • No delinquent loans
  • No tax levies
  • Account must be at a positive balance at least once every thirty days

 

FAQs

Courtesy Pay

What is Courtesy Pay?

Courtesy Pay is a service offered to members with a checking account that can provide a limited level of protection from non-sufficient fund (NSF) fees for returned checks and declined ATM or debit card transactions. It is not a loan— it is a courtesy extended to qualified members in good standing to cover items, up to your eligible limit. We pay overdrafts at our discretion, which means that we do not guarantee that we will always authorize and pay any type of transactions.

Do I have to apply for Courtesy Pay?

Federal regulations require you to opt in if you would like to authorize the Courtesy Pay service for one-time debit and ATM transactions, such as at a store, online, or over the phone. Other types of transactions, including checks, ACH transactions, and recurring debits are not a part of the regulation and are covered using our standard Courtesy Pay program for eligible accounts.

You may opt in through Online Banking by clicking “Courtesy Pay” under the “Accounts” tab and then checking the box next to appropriate checking account. Once you click “Submit,” Courtesy Pay will be enabled on that checking account. You can opt out at any time by unchecking the box. You may also opt in or opt out by calling the Contact Center at 713-676-7777 or 800-234-8076 or by visiting one of our convenient locations.

How does Courtesy Pay work?

1.) You use your debit card or write a check from your checking account
2.) If funds are not available, and you have exhausted your other overdraft resources, Courtesy Pay will allow your transaction to clear your account up to your eligible amount
3.) We will assess a $30 fee for each transaction covered by Courtesy Pay

What is actual balance versus available balance?

There are many circumstances that will affect your to the funds in your accounts. Many of these transactions are beyond the Credit Union’s control as they are requirements of the payment networks that your transactions are processed through via the merchants with whom you choose to do business. Also, we may place holds on various deposits as explained in our Funds Availability Policy and explained elsewhere. Thus, your account records may show an “Actual Balance” and an “Available Balance.” The Actual Balance is the total amount of funds in your account(s). The Available Balance is the amount of the Actual Balance that is available for transactions (withdrawals. Write checks, debit transactions, online banking, or other authorized transactions). You should take care only to make transactions against the Available Balance as these are the only funds you may access for transactions. If you exceed the “Available Balance” (even though the “Actual Balance” may be greater) you may overdraw your account as new or additional transactions cannot be processed until funds are available for transactions. This may result in Insufficient Funds Transactions, Returned Items, and Fees including Overdraft Protection Fees as a result of exceeding your Available Balance. To know the Available Balance, you may login to online banking at fscu.com or call our Contact Center at 713.676.7777. Also, be sure you understand the order in which your transactions are paid as explained in the Funds Availability Policy so that you may avoid making transactions that exceed your Available Balance.

How will Courtesy Pay benefit me?

Courtesy Pay will save you non-sufficient fund (NSF) fees and embarrassment from merchants when you make a mistake in your checkbook, have an unplanned expense, or run short on cash between paydays. Instead of returning checks unpaid, FSCU may automatically pay them if you qualify.

Who qualifies for Courtesy Pay?

Members with accounts in good standing may qualify for Courtesy Pay when the account is opened at least thirty days. Good standing means that there are no credit union loan obligations in default, there are no liens for any legal or administrative order, and the checking account balance is positive for at least 24 hours in any 30-day period.

How much will Courtesy Pay cover?

The total amount you can overdraw using Courtesy Pay will depend how long you have been member and whether or not you have a direct deposit set up on your checking account.

Courtesy Pay Limits
Account Types Length of Membership Direct Deposit Courtesy Pay Limit
Checking Account Less than 1 Month N/A $0
Less than 1 Year No $500
Yes $750
More than 1 Year No $1000
Yes $1300

How is Courtesy Pay different from Overdraft Protection?

If you have established Overdraft Protection to transfer funds from your savings or line of credit, we will always pay the overdraft by this method before using Courtesy Pay.

Is Courtesy Pay a loan?

No. The credit union is allowing you to overdraw your account to your Courtesy Pay limit as a non-contractual courtesy. This discretionary service can be withdrawn at any time by the credit union.

Is there a monthly fee?

No. The only time you are assessed a fee is when you overdraw your checking account, and Courtesy Pay covers the overdrawn amount.

Is there a charge for Courtesy Pay?

There is a standard Courtesy Pay fee of $30.00 per transaction when you overdraw your checking account. The advantage is that you will avoid the inconvenience of having to pay a fee to a merchant and the possibility of ruining your good credit.

How will I know when my account is overdrawn?

We provide online access 24/7 to your accounts as well as monthly statements to let you know your available account balance. You can also enable free eAlerts to immediately notify you of account activity including overdrafts. Periodically, we may also send you reminder letters advising you of your overdrawn account until you bring your account to a positive balance once it has gone over 10 days.

How long do I have to repay the overdrawn amount?

You have up to 30 days to pay any overdrawn amount, including Courtesy Pay fees. However, depending on the situation, we can ask for repayment at any time. Any deposits you make will be applied to an overdrawn balance first.

Will this affect my credit rating?

This has no effect on your credit rating if you bring your overdrawn account to a positive balance in a timely manner, which we ask you to do within the required 30 days.

*Transfer fee of $3 assessed for each transfer.
**Opting into Courtesy Pay covers all transactions. 30 days to repay or cover overdraft. Fee charge of up to $30 for each time First Service pays an overdraft.