Overdraft Protection

 

Your can avoid the inconvenience of a debit card transactions denial, 
prevent any non-sufficient funds fees (NSF) that merchants add, and save yourself from the embarassment of bouncing a check.
Courtesy Payment and Overdraft Protection.
Call today for more information. 

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Courtesy Pay Protection
Unforseen expenses can sometimes occur and you may not have enough money to cover the costs. Courtesy Pay protection may help you pay direct withdrawals, Bill Payer transactions and check drawnon your account. Courtesy Pay may also help with everyday debit card transactions. Opting into Courtesy pay may mean fewer denials at the check-out counters and with online and phone purchases. Avoid the inconvenience of a debit card transactions denial, prevent any non-sufficient funds fees (NSF) that merchants add, and save yourself from the embarassment of bouncing a check.

How it Works
PrimeSource Credit Union offers this non contractual courtesy to cover checks and automatic electronic payments that overdraw your checking account up to $1500 per account, including fees. For each check or other item that PSCU pay, a $27 Courtesy Pay fee is charged.

Benefits of Courtesy Payment

  • Avoid additional Non Sufficient Funds fees added by merchants.
  • Save the embarrassment and inconvenience of bouncing a check.

Accounts that are Covered by Courtesy Payment
All checking accounts offered by PrimeSource Credit Union are eligible for Courtesy Pay provided that the account holder meets the eligibility requirements listed above.

Courtesy Pay privileges may be extended for the following types of transactions:

  • Checks clearing through the Federal Reserve;
  • Checks clearing over the teller counter;
  • Automated Clearing House (ACH) payments such as, but not limited to, insurance premiums and mortgage payments.

Courtesy Payment privileges cannot be used to cover overdrafts that might result from an automatic transfer between accounts at PrimeSource Credit Union, or to make automated teller machine (ATM) withdrawals.

Notification of Activation
PrimeSource Credit Union will notify you by mail any time your Courtesy Payment is activated. If you have a question about your account activity, you may call, stop by, or simply log onto
www.primesourcecu.org and view your account activity via Online Banking.

Other Types of Payment Protection Used First
If you are currently signed up for overdraft protection from another PrimeSource Credit Union deposit account, Courtesy Payment would not be used to pay a draft unless there were insufficient funds available in that deposit account or unless you had already completed more than six electronic transfers without having signatures from that deposit account in the current calendar month. These types of transfers include transfers by telephone, automatic scheduled transfers, and online banking transfers, but do not include ATM or shared branching transfers.

Member Responsibility
Once your Courtesy Payment has been activated to cover an overdraft, it is your responsibility to correct an overdraft and to correct any balance deficiency as quickly as possible. PrimeSource Credit Union expects you to make a deposit covering your overdrafts and fees within 30 days. After that time, our normal collection process begins.

Courtesy Payment can be taken away at any time PrimeSource determines that the account is no longer in good standing (such as, but not limited to, difficulty in collecting a negative account or no deposit made within 30 days to bring account back to a positive balance). Once Courtesy Payment has been rescinded, PrimeSource Credit Union is not obligated to honor any future overdrafts, even if they had previously been paid by Courtesy Payment.

Joint Owner Liability
If PrimeSource Credit Union pays an overdraft on an account with more than one owner on the signature card, each owner (or agent of the owner) is jointly and severally liable for payment of the overdrawn amount plus any Courtesy Payment fees.

Social Security Payments
Members receiving direct deposit of their monthly Social Security payment into their checking account who do not want Courtesy Payment eligibility must advise PrimeSource Credit Union, in writing, to discontinue paying overdrafts with these funds. Generally, this will require the member to opt out of the Courtesy Payment program.

Your options for Courtesy Pay include:

  • Signing up for Courtesy Pay, including your everyday debit card transactions; or
  • Signing up for Courtesy Pay, but opting for NO Courtesy Pay on your everyday debit card transactions; or
  • Opting completely out of the priviledge of having Courtesy Pay extended to you*
    *Please note: PrimeSource Credit Union will not cover overdrafts for the accounts listed above and that any items presented against insufficient funds in a checking account(s) will be returned unpaid with applicable NSF Fees assessed. Additionally, in order to have courtesy pay extended in the future, all eligibility requirements will need to be met at that time.

Other Overdraft Protection Options:
Savings Account Transfer Option
Use this option to transfer funds from a savings account or money market account to checking account(s) to cover any overdrafts for a minimal fee.

Loan Transfer
Transfers can be made from your PrimeSource Home Equity Line of Credit or PrimeSource VISA Card. Ask for specific details.

Call today for more details on Courtesy Payment and Overdraft Protection services: 
509-838-6157 or 800-660-0444 or email us at
primesource@primesourcecu.org

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