Courtesy Pay

You’re responsible. You track spending, balance your checkbook, and keep a dependable eye on your finances. But everyone makes mistakes.

Don’t worry, we’ve got you covered!

Courtesy Pay is one way we help members avoid insufficient fund hassles. In qualified instances, we’ll pay overdrafts up to a total of $500 including fees as set forth in the Fee Schedule.

You have up to 30 days to repay the negative balance. However, we will withdraw funds from other accounts as early as the following day if funds are available to bring the negative balance current. If your account remains negative for more than 30 days or you are behind on your loans with us, Courtesy Pay will be suspended or revoked.

Opt-in: Courtesy Pay may pay overdrafts caused by a check, ACH debit, Visa Debit Card, or ATM transaction. However, in order for Courtesy Pay to cover Visa Debit Card and ATM card transactions, you will need to register (opt-in) for Courtesy Pay services. For more information, call the credit union at (800) 667-6039 or (605) 256-8145 and speak to a Member Service Representative.

Opt-out: To cancel (opt-out of) the Courtesy Pay service on your checking account, contact a Member Service Representative at (605) 256-8145 or (800) 667-6039.

How to Avoid Courtesy Pay Overdraft Fees and NSF Fees

The best way to avoid fees is to manage your checking account so it does not overdraw your available balance. It’s important to:

  • Monitor your account balance regularly. Note all deposits and withdrawals in your checkbook register.
  • Note all ATM withdrawals/fees, East River FCU VISA® Debit card transactions, online payments, and automatic bill payments.
  • Review your account statement carefully.
  • Balance your checkbook often by comparing the paid checks, deposits, withdrawals, debit / ATM transactions, ACH transactions, and service fees listed on your statement with your check register. Some checks and automatic payments may take several days to clear.

The credit union retains the right to refuse payment of an overdraft at any time, even though ERFCU may have previously paid overdraft requests.

More Affordable Options

ERFCU offers more affordable alternatives to Courtesy Pay. These options include overdraft protection from a Ready Credit line-of-credit, your savings account, or a personal loan. Please talk to a Loan Officer for more information.

How do I know if I qualify for Courtesy Pay?
Courtesy Pay is a service offered to qualifying members. A notification letter is sent to you when you initially qualify for Courtesy Pay. ERFCU does not guarantee payment of any overdrawn item. The credit union retains the right to refuse payment of an overdraft at any time, even though ERFCU may have previously paid overdraft requests.

If I have multiple checking accounts does each account have individual Courtesy Pay limits?
Yes. Each account has a $500 maximum limit, including Courtesy Pay item fees, as set forth in our Fee Schedule.

Am I notified if Courtesy Pay is used?
Yes. Each time your account goes into overdrawn status, you are mailed an overdraft notice informing you of the overdraft condition and the fee(s) assessed.

What happens if I go beyond the $500 Courtesy Pay limit?
If you go beyond the $500 limit, items are returned for Non-Sufficient Funds and your account is charged a Non-Sufficient Funds Return Item fee as set forth in our Fee Schedule.

How quickly must I repay the negative balance due to Courtesy Pay?
You have 30 days to repay the negative balance, however, we will transfer money from your other accounts as soon as the next day if there are funds available to bring the negative balance current. If your account remains negative for more than 30 days, Courtesy Pay will be suspended or revoked.

What if I don’t want Courtesy Pay on my checking account(s)?
At your request, your account can be removed from coverage of any future Courtesy Pay overdrafts. You can opt-out by calling a Member Service Representative at (605) 256-8145 or (800) 667-6039.

*Courtesy Pay is not available on Business, Estate, Custodial, Members under 18, Memorial, or Guardian / Conservator accounts.