What is Courtesy Pay?
Courtesy Pay is a discretionary service provided to eligible accounts. It is designed to help guard members against having items returned or declined due to an accidental overdraft. Courtesy Pay may provide certain accountholders in good standing with the ability to overdraw their checking account up to $1,000. The Courtesy Pay dollar amount limit includes any overdraft fees assessed. If your checking account has been open at least 60 days and maintained in good standing, we may, at our sole discretion, pay overdrafts up to the limits mentioned above, including Courtesy Pay overdraft fee(s). Whether we pay or return an item, your account may be assessed a fee, either as a Courtesy Pay fee or a Non-Sufficient Funds fee, but you will not be charged both fees by us.
What is opt-in?
Sign-up for Courtesy Pay Extended Coverage
It’s easy! If you want us to authorize and pay overdrafts on debit and ATM transactions, you must complete a Courtesy Pay Opt-In form. You can also opt-in by calling us at 303.657.7000, or completing a form at any Premier Members CU branch or mailing the form to Premier Members Credit Union, 5505 Arapahoe Ave, Boulder, CO 80303.
Why must I opt-in to Courtesy Pay?
Must I opt-in to all parts of Courtesy Pay?
Can I opt-out of Courtesy Pay?
How much is the Courtesy Pay fee?
How much is the NSF (non-sufficient funds) fee?
How do I qualify for Courtesy Pay?
- A checking account that has been open for at least 60 days
- No delinquent loans with the credit union (past due over 30 days)
- Not caused the Credit Union a loss
- Must be 18 years of age or older
Why would you not cover my transaction if I qualify for Courtesy Pay?
What You Need to Know about Overdrafts and Overdraft Fees
- Courtesy Pay Standard/Extended Coverage is enabled on all checking accounts in good standing. Courtesy Pay Standard/Extended Coverage allows you to overdraw your account up to $1,000 and comes with a per transaction fee each time it is accessed. You may opt out of Courtesy Pay Standard/Extended Coverage at any time by notifying us.
- We also offer overdraft protection plans, such as a link to a savings account or Line-of-Credit, which may be less expensive than Courtesy Pay Standard/Extended. For more information on these plans, please contact us at 303.657.7000.
Everyday debit card transactions: Transactions using your debit card that occur during your daily routine, such as grocery shopping, gasoline, or coffee. This does not include regular payments automatically deducted from your checking account, such as utility bills or a gym membership.
ATM transactions: Transactions made at an ATM using your debit card, such as a withdrawal.
Non-Sufficient Funds (NSF) fee: The fee you are charged when you don’t have enough funds in your checking account to cover a check, recurring payment, or electronic bill payment, and the Credit Union decides to not cover or pay that transaction.
Need Help Managing Your Money?
PMCU encourages our members to manage their money and avoid Courtesy Pay charges. If you would like more information on how to better manage your money, click here.