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Overdraft Privilege (Courtesy Pay) program alleviates embarrassment, merchants' NSF fees
Have you ever made an honest mistake in your checkbook? Or, found yourself a "little short" before payday? Perhaps you've had an unusual or unforeseen expense just at the wrong time.
Relax... based on your excellent history with Alabama Credit Union, you may deserve special consideration. Now, rather than returning unpaid any insufficient funds items that you may have, we will consider, without obligation on our part, payment of your reasonable overdrafts.
Here's more about our expanded Overdraft PrivilegeSM program:
- You can avoid high fees from merchants for returned checks;
- You can have new convenience and flexibility in managing your funds
- Payment of overdrafts up to a total of $700 will normally be considered, subject to the terms of our Membership & Account Agreement and Truth in Savings disclosures. (Members with Just Rewards checking may be eligible to overdraw their checking accounts up to $700; members with direct deposit to checking may be eligible to overdraw up to $500; and members without direct deposit may be eligible to overdraw up to $300). See below for links to disclosures.)
And:
- Overdraft Privilege requires no action on your part;
- It activates after any existing overdraft line-of-credit loan is maximized;
- You do not have to sign any additional documents;
- It costs nothing unless you use the Overdraft Privilege service.
We will charge our normal non-sufficient funds fee (currently $29 per NSF item, as set forth in our Fee Schedule) for each item that would create an overdraft on your account. Of course, we are not promising to pay your overdrafts, not all accounts are eligible, and some restrictions do apply. Overdrawn account balances must be cleared up immediately. Please phone us at 205-348-5944 or 888-817-2002 to find out if the Overdraft Privilege program is now in effect on your account.
We hope our new Overdraft Privilege program will prevent you from incurring embarrassment or high NSF fees from merchants when you overdraw your account. It's another way Alabama Credit Union strives to be "Better. All The Time."
Payment or non-payment of overdrafts is purely at Alabama Credit Union's discretion, and is subject to the terms of the Membership & Account Agreement, Truth in Savings disclosure, Expedited Funds Availability Act disclosure, Electronic Funds Transfer Act disclosure, and Fee Schedule, which may be amended from time to time (see links at bottom of page). Copies of these disclosures are also available upon request from Alabama Credit Union. Alabama Credit Union is under no obligation to pay any item which may overdraw your account at any time. Certain accounts are ineligible for consideration of payment of overdrafts. "Overdraft" includes any authorized check/share draft, transfer, ATM transaction or electronic debit that attempts to create a deduction from your checking account.
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