Courtesy Pay
What is Courtesy Pay?
Courtesy Pay is an
overdraft protection service that Elevations Credit Union may elect to use if your overdraft protection sources are exhausted. While it is not an invitation to overdraw your account, it is an added layer of safety should you accidentally become overdrawn.
How does it work?
If you don’t have enough money in your checking account to cover a check, an automatic payment, or a check card transaction, your overdraft protection sources will transfer the needed funds to your checking account. When there is no money available in your overdraft protection sources, Elevations may then elect to cover your transaction using Courtesy Pay. (This does not include ATM transactions.) Transactions might not be received and processed in the order in which you initiated them. The order in which transactions are received and processed by Elevations can affect the total amount of overdraft or courtesy pay fees incurred.
What is the fee for Courtesy Pay?
For each item paid using Courtesy Pay, your account will be charged a fee. Please see our
fee schedule for more information.
Is Courtesy Pay a loan?
Courtesy Pay is not a loan and it is not guaranteed. If we elect to cover your overdraft using Courtesy Pay, the overdraft amount plus the Courtesy Pay fee are due immediately. If the checking account has more than one (1) owner, each owner is jointly and severally liable for such overdrafts and/or fees.
How do I know when I’ve used Courtesy Pay?
You will receive a notice when transactions are paid using Courtesy Pay. You may also review your account information 24 hours a day with Link24 online banking. We have no obligation to notify you before we pay or return an item or deny a transaction.
How do I sign up for Courtesy Pay?
Elevations Credit Union will elect to use Courtesy Pay at its discretion. No enrollment action is needed.
What if I exceed my Courtesy Pay limit?
Transactions will be returned unpaid and will process as non-sufficient funds, with appropriate fees assessed.
How do I learn more about Courtesy Pay?
Contact a Financial Service representative at 303.443.4672, or 800.429.7626 or visit your nearby branch and they will be happy to answer your questions.
How do I opt out of Courtesy Pay?
At your request, your account can be removed from coverage of any future Courtesy Pay overdraft protection. Contact a Financial Service representative at 303.443.4672, or 800.429.7626 or visit your nearby branch, and inform us of your wish to be removed from Courtesy Pay.
All Courtesy Pay elections are within the sole discretion of Elevations Credit Union, and we have no contractual obligation with our members’ to pay or transfer any NSF item/transaction. Courtesy Pay is an optional service that we may provide as set forth herein to members in good standing. Courtesy Pay is not an entitlement, it is not a loan, and may be discontinued or denied at any time even though we have paid such items at other times. The Courtesy Pay program does not release you from your obligation to pay your debts including any amount by which your accounts may be overdrawn. Further, Courtesy Pay does not affect or limit Elevations Credit Union’s other rights/options regarding NSF transactions under our other policies, procedures and applicable laws. Pursuant to your Membership Agreement, the Credit Union retains discretion to decide which items to pay, and in what order to pay items. Without limiting this discretion, we usually pay items presented for payment against your checking account as follows: checks and ACHs first presented, ATM transactions immediately. Check card transactions may also post immediately. Elevations Credit Union may revoke the privilege at any time without notice.
