Due to Regulation E, financial institutions cannot allow a checking account to go into the negative from ATM card POS and debit card purchases and apply an overdrawn fee.
Because some members would like to be able to have these transactions approved regardless of their current balance and would agree to accept a fee, Delta Community provides members with the option to opt-in and allow ATM card POS and Debit Card purchases to be paid.
Overdraft service options:
To set up your account, simply contact us at 1-800-544-3328 or visit any of our branch locations.
You can set up Overdraft Protection using a Savings account, Money Market account, Visa Credit Card or Line of Credit. More than one account can be used to cover your transactions. The system will use the account(s) you have authorized, in the sequential order you requested, as long as you have available funds or credit. A fee will be assessed for any transfer of funds from a loan product. Instructions to set up Overdraft Protection.
Funds transferred for Overdraft Protection that are pulled from a Savings, Money Market or other share account will not be assessed a fee. However, for any overdraft transfers that pull funds from a Visa Credit Card or other loan products, a fee overdraft transfer will apply. And, if a line of credit is utilized, you may also incur finance charges.
If none of your authorized overdraft protection sources have available funds or credit, we may pay items presented using Courtesy Pay or Courtesy Pay Plus, if there are funds available or in the case of Courtesy Pay Plus, you have opted in.
No, it‘s a service provided by the Credit Union to provide you with the convenience of knowing your purchases will be approved if there are insufficient funds in your account.
By opting in to Courtesy Pay Plus, you add an extra layer of overdraft protection coverage which will cover ATM card and Debit Card purchases. Fees are only applied if you use the overdraft protection so, since there is no fee to opt-in and no fee if you do not use the service, you won't be charged.
No. If you do not have sufficient funds in your Checking account to cover an ATM withdrawal, the transaction will be declined.
Your cardholder experience will remain the same as it is today. The Credit Union will not authorize and pay overdrafts for ATM card or Debit Card purchases, unless you ask us to by opting in electronically to Courtesy Pay Plus via the Delta Community website or verbally by telephone at 1-800-544-5438.
There is no charge for opting in, but if there are insufficient funds in the account and Courtesy Pay or Courtesy Pay Plus is used, then there is a per item fee for each time an item is paid.
There is no limit on the total fees that can be charged when you overdraw your account. However, Delta Community Credit Union reserves the right to cancel Courtesy Pay/Courtesy Pay Plus due to excessive fees.
Requirements for Courtesy Pay Plus are the same as Courtesy Pay, and include but are not limited to the following guidelines:
Courtesy Pay and Courtesy Pay Plus have a combined limit of $500 which includes the aggregate amount of the overdrawn item(s) and the Courtesy Pay fee(s). A fee will be assessed for each item paid by Courtesy Pay.
Repayment of the overdraft amount is expected within 30 days. If you have additional overdraft items during this time, the account must be brought to a positive balance on or before the 30th day from the date of the initial overdraft item. Deposits received by Delta Community during the 30 days will be applied first to your overdrawn checking balance.
Checks, ACH items, or ATM Card and Debit Card purchases that exceed your account protection coverage beyond the $500 limit may be returned or declined when presented for payment.
You can still opt-in to Courtesy Pay Plus. There’s no charge to opt-in, and you’ll have an extra layer of overdraft protection for ATM card or Debit Card transactions. Remember you will only incur fees if you use the service.
We pay overdrafts at our discretion. This means we do not guarantee we will always authorize and pay any type of transaction when there is not enough money available in your checking or designated overdraft protection accounts to cover the item. For example, we may not pay overdrafts when you are in default on a loan with Delta Community or your account is otherwise not in good standing.
Yes. When you open a Delta Community Checking Account, it is set up to automatically transfer funds from your Savings Account to your Checking Account should there be insufficient funds in your account. View more information about Overdraft, Protection Options.
Simply log in to Online Banking and select Courtesy Pay Plus under Additional Services. You can also stop by any Delta Community Credit Union branch or contact us at 1-800-544-3328.
Courtesy Pay is required in order to have Courtesy Pay Plus. There is no fee to have Courtesy Pay if it’s never used.
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