R.I.A. FCU - Products and Services

What is Courtesy Pay?

Courtesy Pay is a service that adds a measure of protection to your personal checking account. Courtesy Pay may cover your insufficient funds checks, up to your approved limit, for one low 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. It also helps protect your credit rating.

How Does Courtesy Pay Work?

Overdrafts on your checking account, up to a limit of $500 [including the amount of the overdrawn item(s) and the Courtesy Pay fee(s)]plus the Courtesy Pay fee(s) may be honored by R.I.A. Federal Credit Union. A $24 fee will be assessed for each item that draws your account negative. You then have up to 30 days to bring the account current, either through a direct deposit, transfer of funds, or a deposit at one of our branch offices.

What If I Already Have Overdraft Protection?

If you have established other overdraft protection methods, such as a line of credit or automatic transfer from your other accounts, we will always look to pay any overdraft by those other methods first before paying your overdraft utilizing Courtesy Pay and imposing a $24 fee for each overdraft we pay. Speak to a member service representative about establishing a line of credit or other alternatives.

Do I Have To Apply For This Service?

No. We require no applications or additional signatures. As long as you are a member in good standing which includes having an account with us for at least 90 days, you make regular deposits to that account, bring your account back to a positive balance regularly, and there are no legal orders against the account, your Courtesy Pay privilege remains activated.

How Can I Access Courtesy Pay?

Overdrafts may be paid utilizing your Courtesy Pay funds up to the limits mentioned above for the following types of transactions:

Checks
POS/Debit Cards Transactions
Electronic Transactions
Bill Payer
On-Line Banking
ATM Withdrawals

We strongly recommend that you first perform a balance inquiry before making an ATM withdrawal. Should you request a withdrawal that draws your account into the negative, the ATM may honor that request by drawing on your Courtesy Pay limit and/or any other overdraft protection you may have with the Credit Union. The ATM receipt will show the amount withdrawn. It may not indicate your withdrawal has taken your account negative or accessed Courtesy Pay and/or other overdraft protection funds, or charged a fee.

Can the Credit Union Stop My Courtesy Pay Protection?

Yes. Courtesy Pay is stopped if you are not in good standing or if you tell us not to pay your overdrafts. There may be other reasons we need to stop Courtesy Pay.

Courtesy Pay is a way for us to provide a higher level of service to our members by helping protect your account and reputation when an inadvertent overdraft occurs.

Call Us For More Information.

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 (563) 355-3800 or 1-800-RIACU4U (742-2848)