Courtesy Pay Disclosure
As a benefit to our members, we offer a
useful feature on our checking account products—A Courtesy Pay Overdraft
Service. With this service, we will generally pay your overdraft
(non-sufficient-funds, NSF) items and fees up to $500 for Fulton County
Federal CU checking accounts, subject to the rules, criteria and limitations
as set forth in this disclosure. The feature will save you time,
embarrassment and may prevent additional fees charged by others to process
your overdrafts.
With the Courtesy Pay Overdraft Service, we generally pay your overdraft
items up to $500 for FCFCU checking accounts, however; we reserve the right
to unilaterally refuse payment of any item without advance notice to you.
When we pay overdraft items, you will be charged our normal NSF
(non-sufficient funds) fee, currently $25.00, for each item that is paid.
Both the amount of the overdraft and all applicable fees, including but not
limited to the $25.00 NSF fees, are included in this limit. The Courtesy Pay
Overdraft Service is available for all checks you write, ACH items, Internet
Bill Payer, debit card transactions, and ATM withdrawal items. When making
an ATM withdrawal, your Courtesy Pay balance is included in your available
balance. For up-to-date balances, call our Touch Tone Teller or visit
www.fctfcu.org. Checks presented to a teller are eligible for overdraft
protection from your savings or a line of credit if applicable, but are not
eligible for Courtesy Pay Overdraft Service.
No application is required for the Courtesy Pay Overdraft Service;
eligibility is based on you managing your checking account in a responsible
manner. There are rules or criteria, that you must meet in order for us to
give you the Courtesy Pay Overdraft Service.
You will not be eligible for the Courtesy Pay Overdraft Service if:
• We do not have a current address on file;
• Your account is classified as dormant;
• Your account is a business or organizational account;
• Your account is an “In Trust For” account;
• Your account has been open for fewer than 90 days;
• You are a minor;
• You are subject to any legal or administrative order, garnishment or levy;
• You are currently a party in a bankruptcy proceeding;
• You are more than 30 days past due on any loan or other obligation to the
FCFCU;
• You do not bring your account to a positive balance at least once every 30
days;
• Your account has outstanding fees due.
After your Courtesy Pay Overdraft Service has been activated, we have the
right to suspend your privilege without any further notice based on these
criteria. We also reserve the right to suspend your Courtesy Pay Overdraft
Service if we believe that you are not managing your account in a
responsible manner, which may harm you or us. In that case, we may suspend
your Courtesy Pay Overdraft Service even if you meet all criteria listed
above, but we will only do so after we give you 7 days notice.
EXCLUSION FROM INITIAL OFFERING: You may be excluded from the initial
offering of the Courtesy Pay Overdraft Service if your account has been
overdrawn for more than 30 consecutive days, unless sufficient grounds exist
for us to believe that it is prudent to grant you the Courtesy Pay Overdraft
Service. We will subsequently review accounts that were not eligible at the
initial activation and grant them the privilege if they become eligible.
Your account agreement describes the duties, obligations, and rights of
depositors and authorized signatories between you and the Credit Union with
regard to your deposit accounts. That account agreement is incorporated
herein for all purposes as if it were set forth verbatim as to matters not
directly addressed by this disclosure. Your account agreement and this
disclosure shall be construed so as to minimize conflicts between them.
**The Courtesy Pay Overdraft Service does not constitute an actual or
implied agreement between you and the credit union. Nor does it constitute
an actual or implied obligation of or by the credit union. This service
represents a purely discretionary courtesy or privilege that the credit
union may provide to you from time to time and which may be withdrawn or
withheld by us at any time without prior notice or reason or cause. It is
important to be aware of your credit union checking account balance to avoid
unwanted Courtesy Pay fees.
Opt Out: An account may be removed from the Courtesy Pay Overdraft Service
for members who do not wish to have Courtesy Pay protecting their account
from overdrafts. At your request, your account can be removed from coverage
of any future Courtesy Pay overdrafts. Any items clearing the account
without Courtesy Pay Overdraft Service and/or sufficient funds will be
returned. A Non-Sufficient Funds fee will be charged. To opt out of Courtesy
Pay Overdraft Service, contact us at (518)725-3191 and inform us your wish
to be removed from the program.
