Let’s face it, life happens.
Make sure that you're prepared when it does.
Whether it's an honest mistake in balancing your checkbook, an unforeseen expense, or a temporary shortfall, sometimes your balance can fall on the wrong side of zero.
How does Courtesy Pay work?
With Courtesy Pay service, instead of returning a check to the merchant or other payee, the credit union may pay your check, saving you embarrassment and additional charges from a merchant or a collection company. When using the service, Interra will charge a Courtesy Pay fee for each item and send you a notice each time an overdraft occurs.
What does Courtesy Pay cost?
There is no additional cost associated with this privilege unless you use it. However, you should keep in mind that you will be charged a Courtesy Pay fee of $32.00 per item, up to a maximum of five items per day, that would have created an overdraft on your account. Please note that all fees are included as part of your maximum Courtesy Pay limit. As an additional courtesy, we will only assess the Courtesy Pay fee if the paid item draws your account for more than $5 negative.
How quickly must I repay my Courtesy Pay?
You must bring your account to a positive balance at least once within every 30 days (meaning your balance must remain positive after all account activity is posted for that business day). If you are unable to do so, you will receive a letter from Interra informing you of the situation and your options. If, after 30 days, your account has not been brought to a positive balance, Interra will suspend your Courtesy Pay privilege and take other steps to receive the funds.
How do I get rid of Courtesy Pay on my account?
You may waive the service by contacting Interra. Your waiver of the Courtesy Pay service may result in returned and/or declined items if there are not sufficient funds to cover them.
How do automatic transfers, checking line of credit and Courtesy Pay work together?
If your account falls below zero Interra will first try to automatically transfer funds from your other deposit accounts. If you do not have funds in your deposit accounts to cover the expense, Interra will then access your checking line of credit, if you have one. If that doesn’t work, you will then be assessed a $32 Courtesy Pay fee.
Checking line of credit
A checking line of credit (LOC) provides an overdraft protection option for your personal checking account and allows you to pay for emergency expenses or any other need. Visit the checking line of credit page for more information.
If you do not have enough money in your checking account to pay a check or other transaction presented for payment, funds can automatically be transferred from most deposit accounts2 on which you are an owner or joint owner. Please contact the credit union for your options.
1Courtesy Pay is not a line of credit nor is it a guarantee of payment or an invitation to overdraw your account. Courtesy Pay service does not constitute either a written agreement of an obligation or a prearranged agreement for Interra Credit Union to pay overdrafts. Payment of any overdrafts is at the discretion of Interra Credit Union and payment of an overdraft does not obligate us or create an agreement or course of dealing on our part to allow overdrafts on any occasion. We do not guarantee that we will authorize and pay any type of transaction. 2Transfers from savings accounts are subject to Regulation D limitations. Please refer to the Regulation D disclosure to learn more.