Courtesy Pay is the overdraft protection service on your checking account which pays a check, a debit or ATM card transaction, or an ACH transaction presented for payment against your account – even if it causes the account to become overdrawn. Courtesy Pay will cover overdrafts up to $600 for a $28 fee per transaction. The $600 Courtesy Pay limit does not apply to Money Market Checking Accounts or Second Chance Checking Accounts.
While it is not an invitation to overdraw your account, it is an added layer of safety should you accidentally present items for more than you have in your account, or an inadvertent error causes the account to be overdrawn.
Federal regulations require that you opt in for Courtesy Pay to allow the overdraft payment of one-time debit card transactions and ATM transactions.
One-time debit card transactions are everyday transactions for purchases you make through your day-to-day spending (e.g., at a store, over the phone, or online). Other types of transactions, including checks drawn on your account or recurring debit card transactions such as a monthly gym membership will be covered by Courtesy Pay and are not part of the regulation.
Why is it important to opt in to Courtesy Pay for one-time debit card and ATM transactions? Imagine you are low on gas and stop to fill up, or you need to buy medicine in the middle of the night for your child. You swipe your debit card for the purchase and the transaction is declined because there isn’t enough money in your account. If you opt in for Courtesy Pay, we cover the transaction, assess the $28 fee, and send you notice of what action we have taken to support your needs.
- If you do not opt in to Courtesy Pay for one-time debit card and ATM transactions, and your account is not set up with other overdraft protection services (e.g., automatic transfers from your savings or a Cash $tash line of credit), transactions on insufficient funds for these types of transactions will be declined at the point-of-sale.
To opt in to Courtesy Pay, simply call 800.839.1154 or visit any TDECU branch.
Need additional information? Download the Courtesy Pay Opt-In informational handout. (PDF format)If you have questions about our overdraft protection services, simply call a Member Care Specialist at 800.839.1154.