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Courtesy Pay

Q: What is Courtesy Pay?
A: Courtesy Pay* is a service we provide to cover transactions up to a predetermined limit on your checking account. There is a $35 fee for each transaction we cover using Courtesy Pay.

Q: Why do I have to opt-in?
A: Courtesy Pay is already set up to cover transactions including checks, electronic debits and automatic bill payments. As of July 1, 2010 the Federal Government requires consumers to opt-in or agree to use Courtesy Pay to cover ATM and everyday debit card transactions. We need your permission in order to set you up to use this part of the service.

Q: How can I opt-in for overdraft protection on my ATM and debit card transactions?
A: You can opt-in by completing an online form, calling 301.779.8500 or stopping by any branch and we’ll do it for you.

Q: What is an overdraft?
A: An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway.

Q: What types of overdraft protection do you offer?
A: We offer two types of overdraft protection:

  • A link to your Savings Account. We can automatically transfer funds from your savings to your checking account to cover up to six transactions a month. There are no fees for this.
  • A link to an approved Line of Credit that can be used to cover transactions on your checking account. You must apply and be approved for the Line of Credit. You will pay interest on any balance carried from day to day.

Q: What is the fee for Courtesy Pay?
A: We will charge you a fee of $35 each time we pay an overdraft.

Q: Can I opt-in later?
A: Yes, you can opt-in at any time.

Q: I opened my new account.  Do I have Courtesy Pay? 
A: No. There is a waiting period of 35 days before you can qualify for Courtesy Pay.

Q: If I opt-out totally will my transactions be returned?
A: Yes, and you will be charged $35 per transaction.

Q: If I partially opt-out will my debit card transactions be authorized?
A: No, as specified by law, we will not pay everyday debit card transactions unless you have specifically opted in for this service.

*Educational Systems Federal Credit Union’s Courtesy Pay is a discretionary non-contractual courtesy service that is available on individually and jointly-owned checking accounts in good standing. It is not an obligation of Educational Systems FCU and Educational Systems FCU may refuse to provide Courtesy Pay on any checking account at any time. Educational Systems FCU reserves the right to limit participation and to suspend, revoke or discontinue this service without prior notice. Additionally, Educational Systems FCU may change the terms, conditions and fees within the Courtesy Pay service in accordance with established policies.

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