An overdraft occurs when you do
not have enough money in your account to cover a transaction, but we pay it
anyway. We can cover your overdrafts in two different ways:
1. We offer overdraft protection
plans, such as a link to a savings account or a line of credit. These
plans are less expensive than our “Courtesy Pay” program. To learn more,
contact our Member Services Department.
2. We offer a Courtesy Pay program that may be added to your account.
What is Courtesy Pay?
Courtesy Pay is a
non-contractual service that allows us to pay an item presented against your
checking account, even if it causes the account to become overdrawn. This
service is added to qualified checking accounts after the account has been open
for 30 days. We will pay overdrafts at our discretion, which means we do
not guarantee that we will always authorize and pay any type of
transaction.
Under our Courtesy Pay Program:
· We will charge you a fee of $28 each time we pay an overdraft.
· There is no limit on the total fees
we can charge you for overdrawing your account.
What services are included in
the Courtesy Pay Standard option?
Our Standard Courtesy Pay
service authorizes us to pay overdrafts for the following types of transactions:
· Checks and other transactions made
using your checking account number, including checks cashed at a teller window.
· Automatic bill payments.
· Recurring debit card transactions.
· Automated Clearinghouse (ACH)
withdrawals – like a utility bill that is automatically paid from your
checking account each month.
After August 15, 2010, we will
not authorize and pay overdrafts
for the following types of transactions unless you ask us to:
· ATM withdrawals and transfers.
· One-time debit card transactions.
What services are included in
the Courtesy Pay Opt-In option?
Our Opt-In Courtesy Pay service
authorizes us to pay overdrafts on transactions covered by the Standard option,
as well as:
· ATM withdrawals and transfers.
· One-time debit card transactions.
What if I want Foothill FCU
to authorize and pay overdrafts on my ATM and one-time debit card transactions?
If you want us to authorize and
pay overdrafts on ATM and one-time debit card transactions (in addition to the
other types of transactions listed above) you must complete the OPT-IN FORM below and return it to us at one of our branch
locations, mail it to: Foothill Federal Credit Union P.O. BOX 660130 Arcadia,
CA 91066, or fax at 626-445-8042. For additional information, call us at
626-445-0950 or 866-995-FFCU or visit us at www.foothillcu.org.
OPT-IN FORM
By
signing this Opt-In form, I authorize Foothill FCU to pay ATM and one-time
debit card transactions (in addition to the other types of transactions listed
above), which will bring my account to a negative balance. I agree to abide by
the terms of the Courtesy Pay disclosure that was provided to me. If I wish to
opt-out of any Courtesy Pay service in the future, I may do so at anytime. (By providing FFCU with your email address
below and signing this form you are giving consent to send the Opt-In
confirmation to you electronically.)
□ I wish to have Courtesy Pay services extended to me (or continue
to be extended to me) on ATM and one-time debit card transactions on August 15,
2010 and thereafter on the following member number and account ID(s):
Member
Number: ______________________________________ Print
Name:__________________________________________________________________
Signature: ____________________________________________ Date: _____________________________________
Email
address for Opt-In confirmation: ________________________________________________________________
For Foothill Employees Only: Copy of Notice/Opt-In form
given to member on (date) ________________ by (employee initial) _________Revised 04/01/2010
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