New legislation that will take effect this summer requires us to ask members to "opt in" for Courtesy Pay. We can no longer automatically offer Courtesy Pay with new accounts that meet credit specifications. Please use this form to opt in to Courtesy Pay. If you do not opt in you will lose Courtesy Pay overdraft coverage on August 15, 2010.
For example, if you are at the grocery store and you try to buy $100 dollars worth of groceries with your debit card but you only have $92 (less than $100) in your account one of two things will happen: If you "opt in" to Courtesy Pay the transaction will be approved and you will be charged a fee for using Courtesy Pay. If you do NOT "opt in" to Courtesy Pay the transaction will be denied. Community Choice Credit Union does not pay for any fees you incur for a rejected payment.
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 overdrafts in two different ways:
This notice explains our standard overdraft practices.
You have 15 days from the day of the overdraft occurs to repay or cover the balance.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following transactions:
We do not authorize and pay overdrafts for ATM transactions (see below):
We do not pay overdrafts that would make your account overdrawn by more than $300. 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.
*Effective August 15, 2010, we will be unable to pay your everyday debit card transactions unless you authorize us to do so.
Under our standard overdraft practices:
If you want us to authorize and pay overdrafts on everyday debit card transactions: