ALEC’s Courtesy Pay is designed with your protection and convenience in mind. The vast majority of our members do not overdraw their accounts and incur fees, however life doesn’t always go according to plan, and overdrafts do occur.
Keep in mind - all accounts offer free Overdraft Protection which transfers funds from your linked savings account(s) to cover overdrafts for the following transactions: Paper Checks, Automatic Withdrawals (ACH and Bill Pay), Recurring Debit Transactions, Everyday Debit Transactions, ATM Transactions. This service will occur before Courtesy Pay if sufficient funds are available in your savings account to cover the overdraft, but is limited to a total of 6 electronic transfers as covered by Regulation D in a calendar month.
Basic Courtesy Pay
Courtesy Pay is a service that allows ALEC to pay an item presented against your checking account even if it causes the account to become overdrawn. Courtesy Pay may provide certain account holders in good standing with the ability to overdraw their checking account. The Courtesy Pay dollar amount limit includes any overdraft fees assessed. Whether we pay or return an item, your account may be assessed a fee, either as a Courtesy Pay fee or a Non-Sufficient Funds fee, but you will not be charged both fees by us.
Basic Courtesy Pay:
- Comes standard with eligible accounts
- Does not require an opt in or a consent
- Includes Checks
- Includes Automatic Withdrawals (ACH and Bill Pay)
- Includes Recurring Debit Transactions
Debit Courtesy Pay
Our optional Debit Courtesy Pay includes the following additional transactions, providing you more protection and convenience.
- ATM Transactions
- Debit Card Transactions
This service requires you to provide us your consent and requires you to have our Basic Courtesy Pay.
Why opt into Debit Courtesy Pay?
Without giving us your consent, ATM and everyday debit card transactions may be declined if you attempt to make a transaction without sufficient funds.
There is no cost if you do not use the service, just enjoy the peace of mind of knowing you are covered for your ATM and everyday debit transactions – when you may need it.
Please review the Important Information below and then complete the Online Overdraft Consent Request for Debit Courtesy Pay.