Let’s face it, life happens.
Make sure that you're prepared when it does.
Whether it's an honest mistake in balancing your checkbook, an unforeseen expense, or a temporary shortfall, sometimes your balance can fall on the wrong side of zero.
Courtesy Pay
Courtesy Pay service is added to qualified checking accounts at account opening. Courtesy Pay can save potential added costs and embarrassment from returned items.1 Courtesy Pay will cover check writing, automatic withdrawals (ACH), and Interra Bill Pay. Interra debit card transactions will be covered after you opt-in. You will receive a notice each time items are paid using the Courtesy Pay service. There is no fee to have Courtesy Pay on your account. You are only charged a $34 Courtesy Pay fee per presentment that would have created an overdraft on your account, up to the Courtesy Pay maximum.
For more information and related resources, please refer to:
Interra Balancing Made Simple brochure.
If you would like Interra to authorize and pay an overdraft for everyday one-time debit card transactions you must opt-in. For additional questions please contact Interra.
How does Courtesy Pay work?
With Courtesy Pay service, instead of returning a check to the merchant or other payee, the credit union may pay your check, saving you embarrassment and additional charges from a merchant or a collection company. As long as you maintain your account in good standing (as defined in the Courtesy Pay Disclosure), Interra may elect to honor overdrafts up to the Courtesy Pay limit on your account. You will receive a notice each time items are paid using the Courtesy Pay service.
What does Courtesy Pay cost?
There is no additional cost associated with this privilege unless you use it. However, you should keep in mind that you will be charged a Courtesy Pay fee of $34.00 each time an item is presented, or payment is otherwise requested and the available balance in your account is insufficient. Please note that all fees are included as part of your maximum Courtesy Pay limit. As an additional courtesy, we will only assess the Courtesy Pay fee if the paid item draws your account for more than $5 negative.
How quickly must I repay my Courtesy Pay?
You must bring your account to a positive balance at least once within every 30 days (meaning your balance must remain positive after all account activity is posted for that business day). If you are unable to do so, you will receive a letter from Interra informing you of the situation and your options. If, after 30 days, your account has not been brought to a positive balance, Interra will suspend your Courtesy Pay privilege and take other steps to receive the funds.
How do I get rid of Courtesy Pay on my account?
You may waive the service by contacting Interra. Your waiver of the Courtesy Pay service may result in returned and/or declined items if there are not sufficient available funds to cover them.
Other than courtesy pay are there alternative ways to cover an overdraft?
Yes. All overdrafts will first attempt to be paid through any existing overdraft protection or line of credit services established on the account.
Checking line of credit
A checking line of credit (LOC) provides an overdraft protection option for your personal checking account and allows you to pay for emergency expenses or any other need. Visit the checking line of credit page for more information.
Automatic transfers
If you do not have enough money in your checking account to pay a check or other transaction presented for payment, funds can automatically be transferred from most deposit accounts on which you are an owner or joint owner. Please contact the credit union for your options.
1Courtesy Pay is not a line of credit nor is it a guarantee of payment or an invitation to overdraw your account. Courtesy Pay service does not constitute either a written agreement of an obligation or a prearranged agreement for Interra Credit Union to pay overdrafts. Payment of any overdrafts is at the discretion of Interra Credit Union and payment of an overdraft does not obligate us or create an agreement or course of dealing on our part to allow overdrafts on any occasion. We do not guarantee that we will authorize and pay any type of transaction.
