Courtesy Pay
Overview
How Courtesy Payment Works
Beginning Balance: | $50.00 |
Day 1: | |
Check Amount: | ($302.00) |
Courtesy Payment Service Charge Charged: | ($18.00) |
Account Balance: | -$270.00 |
Day 2: | |
ATM Withdrawal: | ($212.00) |
Courtesy Payment Service Charge Charged: | ($18.00) |
Account Balance: | -$500.00 |
Day 3: No more available balance |
Opt Out Option
Requirements
- Having a cumulative minimum deposit of at least $200 made into your account(s),
- Making regular deposits consistent with your past practices,
- Depositing an amount equal to or greater than the amount of discretionary Courtesy Payment extended to your account and bringing your account to a positive balance within a twenty (20) day period.
- You are not in default on any loan or other obligation to South Bay Credit Union.
- You are not subject to any legal or administrative order or levy.
Our current service charge is $18 for each overdraft. A Courtesy Payment service charge will not be charged for any transaction that brings the available balance in your account negative by $10 or less. A Courtesy Payment service charge per each occurrence that results in the available balance in your account becoming negative by more than $10 will be charged to your account as stated in the Product Feature, Truth-in-Savings, and Service Charges and Fees disclosures. There is no limit to the number of service charges that can be charged for overdrawing your account. If the account remains negative for ten consecutive calendar days due to the use of Courtesy Payment, Courtesy Payment may be suspended until your account is brought back to good standing. Transactions may not be processed in the order in which they have occurred. This may affect the total amount of service charge incurred. You can opt-out of Courtesy Payment either out of one time (individual, non-recurring) debit card and ATM transactions or Courtesy Payment for the account at any time by calling Member Services at 310-374-3436. For more information on this program, contact us at 310-374-3436 or SBCU@southbaycu.com.