Overdraft Coverage

We have options to help cover unexpected overdrafts

We understand that unexpected overdrafts can happen from time to time. That's why we offer three overdraft options. You can select which options work best for you.

Service Cost/Limitations
Overdraft Privilege Protection: Link your checking account to your savings accountNo fee per transfer
Line of Credit Finance charges, subject to credit approval
Courtesy Pay $35 Courtesy Pay fee per overdraft

Overdraft Privilege Protection and a Line of Credit

These solutions apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account or line of credit. Please note that lines of credit are subject to credit approval, finance charges and fees.

Courtesy Pay

Courtesy Pay allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Even if you have overdraft protection, Courtesy Pay is still available as secondary coverage if the other protection source is exhausted.

We offer Standard Courtesy Pay and Premium Courtesy Pay options. Premium Courtesy Pay provides coverage for ATM withdrawals and debit card transactions. The chart below provides an overview of our two Courtesy Pay options.

Transactions Covered with Courtesy Pay Standard Courtesy Pay(No action required) Premium Courtesy Pay(Your consent is required)
Checks xx
ACH automatic debits xx
Recurring debit card payments xx
Bill Pay itemsxx
Teller window transactionsxx
ATM Transactions x
Debit card transactions x

If you would like to select Premium Courtesy Pay for future transactions, call us at 301.779.8500, complete the Consent Form for Overdraft Services, or visit any branch.

Please note that you can discontinue the Courtesy Pay service in its entirety by contacting us at 301.779.8500 or visiting any branch.

View the Courtesy Pay disclosure.

Frequently Asked Questions

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.

Educational Systems FCU may provide you a specific Courtesy Pay limit depending on the type of account you have. You will receive a letter approximately 35 days after account opening. You do not have Courtesy Pay until you receive this notification. Even if you have overdraft protection, such as a transfer from another account, Courtesy Pay is still available as a secondary coverage if the other protection sources are exhausted.

Please be aware that the Courtesy Pay amount is not included in your balance provided through Digital Banking, Audio Response Teller (ART) telephone banking or Educational Systems FCU ATMs.

*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

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.

Overdraft protection services apply to all types of transactions and may help protect your account from being overdrawn by automatically transferring funds to your checking account from another account or line of credit you may have at Educational Systems Federal Credit Union, for a fee or finance charge.

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