What You Need to Know about Courtesy Pay and How to Opt-In
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We may allow you to overdraw up to $300 and can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
- ATM Transactions
- Everyday debit card transactions
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.
Overdrafts must be repaid within 10 calendar days or your account may be closed and collection efforts may begin.
What fees will I be charged if StagePoint Federal Credit Union pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $30 each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
What if I want StagePoint Federal Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?
Complete and submit this form.