Since 2004, Greenville Federal Credit Union has provided Courtesy Pay to eligible members. The Courtesy Pay service allows the credit union, at its discretion, to pay items presented for payment against your checking account even when it causes the account to become overdrawn, or the account is already overdrawn. It functions as a safeguard to protect against transactions that overdraw your checking account balance and ensures they will be processed--saving you from incurring additional charges or service disruption from merchants due to insufficient funds to cover transactions.
This non-contractual overdraft protection service gives approved account holders the ability to overdraw their Kasasa, Regular or Yield-Plus Share Checking accounts up to $750.00 and costs nothing unless the privilege is used. The account is assessed a $37.50 fee for each Courtesy Pay transaction. The checking account must be brought to a positive balance at least once within a 30-day period to maintain the Courtesy Pay protection privilege. We will use your Available Balance to determine when your account is overdrawn prior to assessing the Courtesy Pay overdraft privilege fee for items presented. Please refer to the Membership Agreement for definitions of overdraft conditions and the Fee Schedule for fees related to presentments which bring the account negative. Both can be viewed on the website at: https://www.greenvillefcu.com/news-resources/legal-information/membership-agreement-and-disclosure
Courtesy Pay is one of several overdraft protection options you can use to ensure your transactions will not be declined and prevent overdraft or a non-sufficient funds (NSF) fees. You can learn more about all overdraft options here: https://www.greenvillefcu.com/personal/deposits/share-checking-accounts/overdraft-protection.
Transactions Covered Under
Recurring debit card payments, overdrawn checks and Automated Clearing House (ACH) transactions (electronic payments including Bill Pay) are automatically covered under Courtesy Pay.
Recurring debit card payments are those you have authorized for merchants to deduct your account repeatedly on a prearranged schedule. These can include subscriptions, automatic payments and monthly membership fees. Should the credit union, using its discretion, choose to pay the recurring debit payment into overdraft or while in overdraft, it will be charged the corresponding Courtesy Pay overdraft privilege fee. The inclusion of recurring debit card payments in the Courtesy Pay service helps members avoid additional merchant NSF (non-sufficient funds) fees, late payment fees and service disruption if payments are declined and returned to the merchant.
NEW! Optional Courtesy Coverage for ATM and Daily, One-time Debit Card
Members can opt-in to include ATM and daily, one-time debit card transactions in their Courtesy Pay coverage. These transactions are not automatically included in Courtesy Pay coverage. You must opt-in to receive the expanded Courtesy Pay coverage for daily, one-time debit and ATM overdraft transactions. If you choose not to opt-in, these transactions will continue to be declined when an account is overdrawn or if the transaction places the account into overdraft.
You can opt-in to add ATM withdrawals and daily, one-time debit card transactions to your Courtesy Pay coverage by calling the Contact Center, 800-336-6309, by selecting the Courtesy Pay Overdraft Opt-In button in Online/Mobile Banking and submitting a completed form, or by visiting any branch and speaking with a representative.
Courtesy Pay Coverage Limit
Eligible account holders may overdraw their Kasasa, Regular or Yield-Plus Share Checking accounts up to $750.00. The $750.00 coverage limit does not include Courtesy Pay fees or NSF fees.
Courtesy Pay Transaction
Courtesy Pay has a transaction threshold of $5.00 for fee assessments. An account will not be charged a Courtesy Pay fee if the transaction amount is $5.00 or less. Transactions that use $5.00 or less in Courtesy Pay will not be charged a fee. This $5 threshold does not apply to in-branch cash withdrawals or cash advances. The $5 threshold cannot be used in multiple consecutive cash withdrawals and ATM transactions. Misuse of the $5 threshold will result in removal of the Courtesy Pay service.
Courtesy Pay and NSF Fee Single-day
With the inclusion of ATM and debit transactions in the Courtesy Pay program in addition to overdrawn checks and ACH transactions (electronic payments including Bill Pay), the credit union believes it is important to limit the potential overdraft fee burden to members by capping the total amount of fees that can be assessed in a single day.
In a single day, accounts will be assessed fees of $37.50
for the first two NSF or overdraft presentments the credit union pays in
one day. No more than two (2) Courtesy Pay
or Non-Sufficient Funds (NSF) fees will be charged per membership number, per
business day. Transactions with values equal to or less than $5
will not be charged Courtesy
Example fee assessment in a single day:
Fees for first two presentments above the transaction threshold: $37.50 ea.
Fees for additional presentments: No fee
Maximum number of fees assessed in a single day: 2
Maximum fee amount assessed in a single day: $75.00
You can choose not to have any overdrafts paid through Courtesy Pay, and may make this selection by notifying the credit union in one of these ways:
- In writing to Greenville Federal Credit Union, 1501 Wade Hampton Boulevard, Greenville, SC 29609
- By visiting a credit union branch office to speak with a representative
NSF transactions may be returned unpaid and subject to returned item fees on accounts that do not have Courtesy Pay overdraft protection coverage. The entity expecting payment from you may also assess a fee for the NSF returned item.