Courtesy Pay

Your Palisades Credit Union checking account has an outstanding benefit called Courtesy Pay.

How does Courtesy Pay Benefit You?
If you inadvertently overdraw your checking account, we have the option to cover your overdrafts; saving you the inconvenience and embarrassment of a returned or declined item, as well as the fee normally charged to you by merchants for items returned to them.

When you don't have enough money to make a purchase or pay for something unexpected, such as a flat tire or an emergency doctor's visit, you can Opt-in to our Courtesy Pay service can authorize your everyday debit card transactions.

Many deposits you make into your checking account are not available for immediate use, which means you cannot start using those dollars right away for everyday debit card purchases. Having Courtesy Pay may provide access to you when you need it.

Information on Overdrafts and Overdraft Fees
An overdraft occurs when your account does not have enough money to cover a transaction, but we pay it anyway.
We offer two different ways to cover your overdrafts:

1. Standard overdraft practices that come with your account, such as Courtesy Pay.
2. Overdraft protection plans, such as links to savings account and lines of credit (loans). These may be less expensive than our standard overdraft practices. Ask us for more information on these plans. 

This notice explains our standard overdraft practice that comes with your 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 and recurring debit card transactions

We will not continue to authorize and pay overdrafts for the following types of transactions unless you ask us to:

• ATM transactions
• Everyday (one-time) debit card transactions

Under our standard overdraft practices, we will charge you a fee¹ each time we pay an overdraft. Due to regulatory requirements, we will not pay overdrafts on your ATM and everyday debit card transactions unless you ask us. If you do not Opt-in, the transaction will not be paid, and no fee will be imposed. We may continue to pay overdrafts on your checks and automatic bill payments and impose a fee. Overdrafts are paid at our discretion. Payment of an overdraft is not guaranteed. If we do not authorize and pay an overdraft, your transaction will be declined and item returned unpaid. There is no limit on the total fees we can charge you for overdrawing your account. We can close your account if you have excessive overdrafts. You should ask us if you qualify for a program that may pay your overdrafts for less than the overdraft fee. Palisades Credit Union disclaims all liability associated with overdraft protection plans, courtesy pay and any other service which automatically pays overdraft. Members with payments covered by this service will have ten (10) business days following the occurrence to pay the overdrawn balance. If funds are available in other Palisades CU accounts owned by the member, Palisades CU may transfer those funds to the checking account to cover all or part of any negative balance. If any remaining negative balance is not paid within the ten (10) day limit, future Courtesy Pay privileges may be denied and the member may incur legal fees to recover the loss. 

If you want to utilize this service and want us to authorize and pay overdrafts on ATM and everyday (one-time) debit card transactions, please fill out the form below.

Courtesy pay Opt-in form

1 Fee is subject to change. See Fee Schedule for current fee.