Having a transaction denied or returned due to non-sufficient funds can be expensive and embarrassing. That's why Sierra Central offers Courtesy Pay, an overdraft protection program that provides an added level of financial protection when you need it the most!
FAQ-What is Courtesy Pay?
Courtesy Pay is a service that adds a significant measure of protection to your regular checking account. Courtesy Pay may cover your insufficient funds checks for one fee per covered overdraft transaction. That means, instead of returning a check to the merchant because of insufficient funds, the credit union may pay your check, saving you additional charges from the merchant collection companies. It saves you the embarrassment an inadvertent overdraft can cause.
When a transaction made using your checking account number is presented for payment and your checking account balances has insufficient funds to cover the transaction, Sierra Central may pay the item. Each time an overdraft item is honored Sierra Central will assess your checking account a fee up to the amount as stated on our most current fee schedule per item. Your account balance will then show as a negative balance. Then you will have the opportunity to bring your checking account current, either through direct deposit, transfer of funds, or a deposit at one of our branch office.
If you have overdraft protection from your savings or another Credit Union account, we will still look to pay any overdraft by that method first before paying your overdraft utilizing Courtesy Pay or imposing an NSF fee.
No. We do not require an application or additional signatures. The Courtesy Pay privilege is based on several deciding factors. Some of which may include, but not limited to; being a member in good standing, 18 years of age or older, having a clear Chex Systems record, and maintaining a positive balance regularly. However, payment of overdrafts caused by every day debit card transactions require an Opt-In form authorization.
Overdrafts may be paid utilizing Courtesy Pay for the following types of transactions.
Everyday Debit Card Transaction (This requires an Opt-In authorization)
Yes. There may be several reasons that we would need to stop your Courtesy Pay. You may also tell us to stop granting you the Courtesy Pay privilege and this would require you to opt-out. Courtesy Pay is just one way for Sierra Central to provide a higher level of service to our members. By helping members protect their account status and reputation in the event an inadvertent overdraft occurs.
Your monthly checking account statement will reflect overdraft activity that may have occurred on your checking account during the month. Your statement will show the amount of fees that may have been applied to your account for the current month and also year-to-date fee amounts. We are happy to review Courtesy Pay and its features with you, along with giving you other options to add convenience and ease to your account. Please call us at 1-800-222-7228 for more information.
*Other Overdraft Option - Transfer From Another Account
If you have other accounts with us, you can authorize us in advance to transfer the funds needed to cover your overdraft. There is a small fee for this service. Ask a Member Service Representative for more information.