Courtesy Pay Overdraft Policy

Courtesy Pay Overdraft Policy

A Courtesy Pay Overdraft occurs when you do not have enough money in your available balance to cover a transaction at the time it is presented to us for payment. A Courtesy Pay Overdraft can result from the payment of checks, electronic funds transfers or other withdrawals or transfers from your account. If we pay a Courtesy Pay Overdraft, you will be charged a Courtesy Pay Overdraft Fee as provided for in our current Service Charge Schedule. If we return a check or ACH payment due to insufficient available balance, then you will be charged a Non-Sufficient Funds (NSF) Fee, also as provided in the Service Charge Schedule.

We are not obligated to pay any Courtesy Pay Overdraft item presented for payment if your account does not contain sufficient available balance. However, if you maintain your account in good standing, we may approve your Courtesy Pay Overdrafts within your current available Courtesy Pay Overdraft limit as a non-contractual courtesy. Your account is in good standing if you (1) demonstrate responsible account management—such as making regular deposits to bring your account to a positive end of day balance at least once every 30 days (including the payment of all credit union fees and charges); (2) avoid excessive Courtesy Pay Overdraft usage suggesting the use of Courtesy Pay Overdraft as a continuing line of credit, and (3) there are no legal orders, levies or liens against your account. In addition, based upon our review of your account management, if we determine you may be using Courtesy Pay Overdraft as a regular line of credit by creating excessive Courtesy Pay Overdraft usage, we may suspend the privilege without any further prior notice. Courtesy Pay Overdraft automatically applies to check, ACH and recurring debit card payments. For it to apply to one-time debit card payments or ATM transfers or withdrawals for consumer accounts, you must opt in. To opt in for Courtesy Pay Overdraft for ATM transfers or withdrawals and one-time debit card payments for consumer accounts, you can log in to your account online or visit us at a branch.

Courtesy Pay Overdraft should not be viewed as an encouragement to overdraw your account. As always, we encourage you to manage your finances responsibly. If you would like to have this service removed from your account, sign on to online banking and click “Overdraft Preferences” from the main navigation, visit your local branch, or call (800) 632-4600.

Fees and Charges: Courtesy Pay Overdraft Fees will be assessed once your account has a negative available balance in excess of $5 and then if you execute a payment transaction in excess of $10. Provident may approve your Courtesy Pay Overdraft transactions within your current available Courtesy Pay Overdraft limit. Whether your Courtesy Pay Overdraft transactions will be paid is discretionary and we reserve the right not to pay. The maximum number of Courtesy Pay Overdraft Fees that we assess for each checking account is limited to 5 per day. There is no limit to the number of Non-Sufficient Funds (NSF) Fees we will charge per day.

For more information, see the Courtesy Pay Overdraft section of the Member Agreement.