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What is Overdraft Protection and Courtesy Pay?

What is Overdraft Protection and Courtesy Pay?

Protect your checking account when the unexpected happens

TDECU offers Overdraft Protection in three forms:

What is Courtesy Pay?

Courtesy Pay is TDECU’s overdraft protection service for checking accounts that covers payment for checks, debit or ATM card transactions, or ACH transactions if your account becomes overdrawn. This optional service offers an added layer of security for accidental overdrafts or inadvertent errors that you might experience from time to time.

Courtesy Pay covers overdrafts up to $200 on Second Chance Checking accounts*, $600 on Classic Checking accounts and $800 on High-Yield Checking accounts.** A per-transaction fee of $32 will apply when Courtesy Pay is used to cover transactions. Courtesy Pay is not available for Money Market Checking accounts. Federal regulations require that you opt in for Courtesy Pay to allow the overdraft payment of one-time debit card transactions and ATM transactions.

* Courtesy Pay covers overdrafts up to $200 on Second Chance Checking accounts after the account has been open for 60 days, subject to review and approval.

** Courtesy Pay covers overdrafts up to $800 on Forward Checking accounts. Forward Checking accounts are no longer offered as a new account that can be opened by Members.

How does Courtesy Pay work?

One-time debit card transactions are everyday purchases, such as at stores, 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 not immediately be covered by Courtesy Pay, but will be covered automatically after 60 days if the account is in good standing.

If you choose to not opt in to Courtesy Pay, and your account is not set up with other overdraft protection services (such as automatic transfers from savings, or a Cash $tash line of credit), then transactions on insufficient funds for these types of transactions will be declined at the point-of-sale.

How to opt in to Courtesy Pay

To opt in to Courtesy Pay, call 800-839-1154 or visit any TDECU Member Center.

For additional information, download the Courtesy Pay Opt-In handout (PDF format).

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