Courtesy Pay Enrollment and Opt-Out Notice
(Discretionary Overdraft Service)
Advantis Credit Union offers Courtesy Pay service to qualified members on all checking accounts except for Heath Savings Account (HSA) checking accounts. The Courtesy Pay service is being offered as a service to help protect our members from inadvertent overdrafts on their checking accounts. The service is offered at the sole discretion of the credit union and we reserve the right to refuse to pay any item that may draw on insufficient funds. For example, we typically will not pay overdrafts if your account is not in good standing or you are delinquent on an obligation to the credit union.
Automatic Enrollment and Opt Out
The credit union has set qualifications for the Courtesy Pay service. Members meeting those qualifications are automatically enrolled in the service unless they “Opt Out”. If you have received this notice, you qualify for the service and will be automatically enrolled. We reserve the right to remove you from the service if you fail to pay back your overdrafts (including overdraft fees), become delinquent on any obligation to the credit union, declare bankruptcy or cause the credit union a loss. If you would like to “Opt Out” please read the “Opting Out of Courtesy Pay” section below and follow the directions provided.
How Courtesy Pay Works
Normally when an item will overdraw your account, it is returned unpaid and we will charge you a NSF fee. With the Courtesy Pay service, instead of returning an item, we may, at our discretion, pay the item. We will still charge you a NSF fee if we pay the item, but the service will help you avoid NSF or returned check fees and late fees charged by merchants, service providers, creditors and others and help protect you from possible late payments that could hurt your credit rating. Currently our NSF fee is $25.00 and it will be charged whether we pay an item that will over draw your account or not. The NSF fee will be charged for each item that overdraws your account. Items may clear your account in any order we choose. You will be notified by mail of any non-sufficient items paid or returned that you may have. We have no obligation to notify you before we pay or return an item.
The amount of overdrafts, including any fees that you owe us, shall be due and payable immediately. Owners of joint accounts will be jointly and severally liable on any item overdrawing their account. If you do not pay your overdrafts within 30 days you will be removed from the Courtesy Pay service and the credit union will take additional steps to collect the overdrawn amount.
Funds directly deposited to your account will be used to pay any overdraft balance. If you receive a direct deposit of Social Security or other federal benefit check and you do not want us to use these funds to repay overdrafts, you must opt out of the service. See the “Opting Out of Courtesy Pay” section below for directions on how to opt out of the Service.
Transactions That May Be Covered By Courtesy Pay
Courtesy Pay may be available to cover checks and Automatic Clearing House (ACH) items that overdraw your checking account. We reserve the right to change the types of items that may be covered by Courtesy Pay.
Other Overdraft Protection Options
Advantis members have long had the option of designating either a line-of-credit or a transfer from an eligible account to cover inadvertent overdrafts on checking accounts. Both options provide a less expensive alternative to Courtesy Pay and are still available to any qualified member. If you already have one of these overdraft protection options set up with the credit union, it will remain your primary source for covering overdrafts. Courtesy Pay will provide a secondary source of protection and will only be used if your designated primary overdraft source is not able to cover the transactions. Any member wishing to learn more about these other overdraft protection options may contact the credit union at 503-785-2528 or 800-547-5532.
Opting Out of Courtesy Pay
You may choose to opt out of the Courtesy Pay service by calling 503-785-2528 or 800-547-5532. You may opt-out at any time. When you call, you will need to provide us your member number. Your opt-out request will apply to all checking accounts under the specified member number unless you tell us otherwise.
Courtesy Pay Does Not Obligate Advantis To Pay Overdrafts
Members do not have a contractual right to Courtesy Pay and payments of overdrafts are not guaranteed by the existence of the service. Advantis’ Courtesy Pay service is not an obligation of the credit union and we may, at our sole discretion, refuse to provide the courtesy service on any checking account at any time. We reserve the right to discontinue the service, make changes to the service or change the eligibility requirements of the service at any time without notice.