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What to Know About Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdraft in two different ways:

  1. We have a standard overdraft privilege program (OPP), which we call Courtesy Pay, that comes with your account.
  2. We also offer overdraft protection plans, such as a link to a savings account or a line of credit, which may be less expensive than our standard overdraft privilege.
What is the standard overdraft privilege that comes with my account?
  • We authorize and pay overdrafts for the following types of transactions:
    • Checks and other transactions made using your checking account number
    • Automated Clearing House (ACH) transactions
    • Automatic bill payments
    • Recurring debit card transactions
  • We will not authorize and pay overdrafts for the following type of transactions unless you opt-in to our Courtesy Pay Plus (CPP) program:
    • ATM transactions
    • Everyday debit card transactions (such as one-time debit card and ATM card purchases)
  • 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 and/or your check/ACH will be returned, unpaid and a non-sufficient funds (NSF) fee of $35 will be assessed.
How do I opt-in to CPP and authorize Member One to pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions you can either call us at 800.666.8811, or visit one of our retail centers. Once you've granted authorization, you are able to revoke it at anytime.

How do I qualify for Courtesy Pay?

While it does come standard with your account, you do need to also meet the following requirements:

  • You must be at least 18 years old
  • Your checking account must be opened for 60 days and be in good standing
    • Bringing your account to a positive balance within a 30-day period for a minimum period of 24 hours, no delinquencies, charge-offs, or legal orders against your Member One account(s), and no return mail, dormant, or inactive status on your Member One account
What fees will I be charged if Member One pays my overdraft?

For consumer accounts, the breakdown of Courtesy Pay fees is as follows:

  • For an overdraft amount of $0.00 to $4.99 there will be a $0.00 fee assessed
  • For an overdraft amount of $5.00 to $9.99, there will be a $5.00 fee assessed
  • For an overdraft amount of $10.00 or greater, there will be a $35.00 fee assessed

There is no limit per day on the total fees we can charge you for overdrawing your account.

For business accounts, the member is charged $35 per overdraft, regardless of the overdraft amount.

This privilege will generally be limited to a $300.00 or $800.00 overdrawn (negative) balance for members enrolled in Courtesy Pay and Courtesy Pay Plus depending on the checking type opened on the account. Any and all fees and charges,
including without limitation the courtesy pay fees (as set forth in our Fee Schedule), may cause the account to become overdrawn in excess of the maximum amount.

How soon do I need to get my account out of a negative status?
  • If the checking share remains negative more than 30 days, the Courtesy Pay privilege will be revoked for future use. Also, online banking, telephone banking and debit card availability will be cut off.
  • If the checking share remains negative beyond 45 days, the checking share will become charged-off.
  • When a checking share has been brought positive from a negative state, the member must wait 24 hours before again using the Courtesy Pay.

It's important to note, these are not the only circumstances under which Courtesy Pay may be terminated, and Member One FCU reserves the right to revoke privileges, permanently or temporarily, at any time and to deny the payment of any transactions without prior notification.

If I have a savings account with Member One could that potentially protect me from having Courtesy Pay fees charged to my account?

Yes. If your checking account does not have sufficient funds to cover a check or ACH transaction, we will first attempt to pay the overdraft at no charge through Overdraft Savings Transfers from your primary share account (your membership savings account), provided it has sufficient funds available, before using Courtesy Pay. Through Overdraft Savings Transfers, we will only use funds from the primary share account to pay a check or ACH overdraft transaction if there are sufficient funds available in the savings account to cover the full amount of the overdraft transaction.

What if my savings account does not have enough funds to cover the overdraft, is there another product that could help prevent Courtesy Pay fees?

Yes. If neither your checking account, nor your primary share account has sufficient funds available, we will then try to cover the overdraft using an approved line of credit.

Click here to view the complete Consumer OPP Policy and Disclosure.

Click here to view the complete Business OPP Policy and Disclosure.