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Overdraft Protection & Courtesy Pay

Life happens! Fort Lee Federal Credit Union understands that unexpected overdrafts occur from time to time—Overdraft Coverage can help.

Overdraft Coverage Options

The choice is yours. Consider these options to cover overdrafts:

Service Cost
Overdraft Protection — Link to Another Deposit Account you have at Fort Lee Federal Credit Union No fee per transfer
Courtesy Pay $25 Courtesy Pay
Fee per item

Overdraft Protection services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account (e.g., Primary Savings).

Courtesy Pay allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction.  Even if you have overdraft protection, Courtesy Pay is still available as secondary coverage if the other protection source is exhausted.

Transactions Covered With
Courtesy Pay
Standard
Coverage

(No Action Required)
Extended
Coverage

(Your Consent Required)*

If you would like to select Extended Coverage for future transactions:

Checks
ACH – Automated Debits
Recurring Debit Card Payments
Online Bill Pay Items
Teller Window Transactions
ATM Transactions   ✓*
Everyday Debit Card Transactions   ✓*

*If you choose Extended Coverage, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage.

You can discontinue the Courtesy Pay in its entirety by contacting us at (804) 452-0736.

What Else You Should Know

  • A link to another account is a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our mobile banking, Internet banking, and telephone banking services to keep track of your balance.
  • The $25.00 Courtesy Pay Fee is the same fee amount that is charged if a check is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Courtesy Pay Fee or a Return Fee of $25.00. All fees and charges will be included as part of the Courtesy Pay limit amount. Your account may become overdrawn in excess of the Courtesy Pay limit amount as a result of a fee.
  • We will not charge a Courtesy Pay Fee if a member account is overdrawn by $1.00 or less.
  • We generally post items in the following order: 1) credits with the same effective date 2) ACH debits (in the order received during overnight cycle), 3) checks (in the order received during overnight cycle). ATM and debit card transactions post in real-time throughout the day in the order they are received. Exceptions to this posting order will occur. Holds on funds (described below) and the order in which transactions are posted may impact the total amount of Courtesy Pay Fees or Return fees assessed.
  • Although under payment system rules, Fort Lee Federal Credit Union may be obligated to pay some unauthorized debit card transactions, Fort Lee Federal Credit Union will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions and any fee(s).
  • Giving us your consent on your account to pay every day debit card and ATM overdrafts may result in you incurring Courtesy Pay Fees for transactions that we would otherwise be required to pay without assessing a Courtesy Pay Fee. However, this would allow us to authorize transactions up to the amount of your Courtesy Pay limit and may also help you avoid overdrafts in excess of your available funds that could result in restriction of your debit card.
  • Fort Lee Federal Credit Union authorizes and pays transactions using the available balance in your account. The available balance is comprised of the ledger balance (collected funds) less any debit card holds, and does not include any deposited funds on hold. Fort Lee Federal Credit Union may place a hold on deposited funds in accordance with our Funds Availability Policy and Disclosure.
  • If the funds in the available balance are not sufficient to cover a transaction, any available overdraft protection and/or the amount of the Courtesy Pay limit, may be used to authorize and pay a transaction.
  • Fort Lee Federal Credit Union will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules.  In some cases, the hold may exceed the amount of the transaction.  When the hold ends the funds will be added to the available balance in your account.  If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, a Courtesy Pay Fee may be assessed.
  • Except as described in this letter, Fort Lee Federal Credit Union will not pay items if your account does not contain available funds (including the Courtesy Pay limit) to cover the item(s) and the amount of any fee(s).
  • We may restrict your debit card use if you incur overdrafts in excess of the available funds in your account, including any Courtesy Pay limit.
  • Courtesy Pay is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
  • Courtesy Pay may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within thirty-two (32) days for a minimum of one business day.
  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Truth-In-Savings Disclosure Fee Schedule. The total (negative) balance, including all fees and charges, is due and payable upon demand. 

If you have any questions about Overdraft Protection or Courtesy Pay, please call us at (804) 452-0736 or visit a branch.