OCourtesy Pay Fee
After you become eligible* and after you opt into Courtesy Pay as an overdraft option for payment coverage on everyday debit card or point-of-sale (POS) and ATM withdrawal transactions, a Courtesy Pay fee will be charged at $30 per item paid when any everyday debit or point-of-sale (POS) or ATM withdrawal transaction posts to your account for an amount greater than your Available Balance. There is a cap of (5) five overdraft transactions per day and maximum fee of $150.00 per day ($30 per occurrence) that SMCU charges for overdrawing your account.
Also note that Courtesy Pay on a check(s), ACH or Bill Pay transaction(s) incur a $30 fee per item posting to your account for any amount greater than your Available Balance.
If you choose to not opt into Courtesy Pay on everyday debit card or point-of-sale (POS) and ATM withdrawal transactions, you will be charged a non-sufficient funds (NSF) fee of $30 each time any everyday debit or point-of-sale (POS) or ATM withdrawal transaction attempts to post to your account when the amount is greater than your Available Balance. In addition, any check(s), ACH or Bill Pay transaction(s) that attempt to post to your account when the amount is greater than your Available Balance incur a $30 fee per item attempt. Items may be presented multiple times, incurring a NSF fee of $30 each time. The Payee may also charge you for a returned item fee. When unable to cover the transaction at the time of presentment your check(s), ACH or bill payment will be returned unpaid to the person, merchant or financial institution (Payee).
You can avoid being charged an NSF fee by ensuring your purchase(s), checks written against your account or any withdrawal transactions that post to your account are less than or equal to your Available Balance. Unlike Courtesy Pay fees there is no cap on the per presentment NSF charges for overdrawing your account.
Overdraft Protection Services
Overdraft Protection services, which are different than Courtesy Pay, may be an available, less expensive option. Overdraft Protection services include linking your share draft (checking) account to another account with SMCU such as a money market or savings account or a line of credit source such as a credit card. No fee is incurred when covering an overdraft using this service so long as there are available funds to cover the transaction from the linked account.
* Within 60 days of account opening, upon meeting eligibility criteria