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!
- The Car Breaks Down
- The Air Conditioning goes out
- or an account balancing mistake happens!
- We got your Back!
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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 balance 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.
- ACH Items
- Bill Pay
- 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.