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How far overdrawn can my
account go?
If eligible, items will be paid up to an overdrawn limit of
$500.00 (including Courtesy Pay fees of $20.00 per item).
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How do I apply for Courtesy Pay?
There is no need to apply for Courtesy Pay. This is a
service provided to every accountholder in "good standing."
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How will I know if I have
Courtesy Pay on my checking account?
If you have maintained your account in good standing, we
will assign you an overdraft courtesy of $500.00.
Good standing can be defined as:
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Is there a cost for this
service?
Courtesy Pay does not cost anything unless you use it. If
you overdraw your account within the Courtesy Pay limit
(including fees) we will assess a $20.00 Courtesy Pay fee
for each item presented and paid. Items that exceed the
Courtesy Pay limit of $500.00 (including Courtesy Pay fees)
will be assessed a $20.00 non-sufficient fund fee for each
item and returned as NSF.
For example, if you use the Courtesy Pay service for two
overdrawn items, your account will be charged two separate
Courtesy Pay fees ($20.00 for each overdrawn item).
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What transactions will access
Courtesy Pay?
If you inadvertently overdraw your account, Courtesy Pay
will cover checks and withdrawals from ATMs up to a total of
$500 including Courtesy Pay fees.
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Will my Courtesy Pay limit be
reflected in my available balance?
No. When you view your available balance on your statement,
Call 24, online or at an ATM, the Courtesy Pay amount will
not be added to your account balance. For example, if your
account balance is $1,000.00, your funds available will
appear as $1,000.00, not $1,500.00.
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Is Courtesy Pay a loan?
No. We extend this non-contractual courtesy to members who
maintain their checking accounts in "good standing." This
service is available to you at the discretion of the Credit Union.
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Can I use Courtesy Pay to pay a
Northrop Grumman FCU loan payment?
No. You cannot use Courtesy Pay to meet this obligation.
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When do I have to repay the
overdraft?
You will need to bring your account to a positive end-of-day
balance at least once every thirty (30) days.
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I would like a larger Courtesy
Pay limit.
The limit is $500.00 for all eligible members and cannot be
increased at this time.
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Can the Courtesy Pay charge be
waived?
No. Courtesy Pay fees are not eligible for discounts or
reimbursements.
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What are the checking account
requirements associated with Courtesy Pay?
- Make regular deposits sufficient to cover
transactions
- No legal orders outstanding on your account
- Bring your account to a positive end-of-day balance
at the end of the business day at least once every
thirty days
- All outstanding loans must be no more than 30 days
past due
The following accounts are
excluded from accessing the Courtesy Pay service.
- Accounts not currently in good standing
- Accounts with a loan more than 30 days delinquent
- Accounts that are not brought to a positive
end-of-day balance at least once every thirty days
- Accounts with legal orders outstanding
- Money market accounts
- Share (savings) accounts
- Loans
- Personal Line of Credit accounts
- Home Equity Line of Credit accounts
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Do I have Courtesy Pay on all
of my checking accounts?
If you qualify for Courtesy Pay, all your checking accounts
are eligible.
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What if I do not want Courtesy
Pay?
We can change your account status so that no overdrawn items
are paid using the Courtesy Pay service. If you choose to
opt out
of the Courtesy Pay service, any future overdrawn items
presented for payment against your account will be returned
unpaid and a $20.00 NSF fee will be assessed after funds for
overdraft protection (if applicable) have been depleted. You
may also be charged additional fees by the merchant/payee.
Carefully consider your decision to opt out of this program.
(If you decide to opt out of Courtesy Pay, call us at
800-633-2848, or download and fax the signed
opt-out
form.)
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What if I opt out of Courtesy
Pay and change my mind later?
Speak with a Northrop Grumman Federal Credit Union Member
Service Representative at 800-633-2848 or
click
here to download an opt-out/opt-in form.
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Can Courtesy Pay be taken away
by the credit union?
Yes. If the Credit Union determines an account is no longer
in good standing, the Courtesy Pay service can be taken away
at any time. The Credit Union is not obligated to honor any
future Courtesy Pay items, even though it may have
previously approved Courtesy Pay items for you.
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Does Northrop
Grumman FCU offer traditional overdraft protection?
Yes. Credit Union members can choose one or both of the
following overdraft protection options:
- A transfer from your regular share or money market
account, and/or
- A transfer from a regular share or money market
account on another account number, and/or
- An advance from an overdraft line of credit on your
account, and/or
- An advance from an overdraft line of credit on
another account
The transfer feature from a deposit account and/or an
advance from a line of credit will be processed before the
Courtesy Pay feature is used.
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What is the
difference between Overdraft Protection and Courtesy Pay?
With Overdraft Protection funds
are transferred fee-free from a previously designated
account to your share draft account to pay an item.
Overdraft Protection will NOT allow the account to overdraw
(go into a negative balance) to pay an item. A MoneyMaster
Line of Credit may be used for overdraft protection. In
order to receive a MoneyMaster Line of Credit, you must
receive credit approval.
Courtesy Pay is a non-contractual courtesy
offered at the sole discretion of the Credit Union to
members who maintain their Share Draft accounts in good
standing. Any Courtesy Pay amount covered by the Credit
Union in the Courtesy Pay process is NOT considered an
accountholder loan, and is not subject to interest. Each
overdraft item that is paid is subject to the Courtesy Pay
fee.
Overdraft Protection and Courtesy Pay are two completely
separate services offered by Northrop Grumman FCU.
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Are you encouraging
me to write bad checks?
No. We are simply responding to frequent member requests to
pay items that were being returned when the amount available
in the checking account was only a few dollars less than the
amount of the check. With Courtesy Pay, we are now helping
members by helping to prevent embarrassment and additional
fees associated with returned checks assessed by payees.
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Can I overdraw my
account using an ATM card or point-of-sale transaction?
Yes, you can overdraw your checking account when making
an ATM or POS transaction with your Northrop Grumman FCU
Visa ® ATM/Check Card or ATM Card. A $20 Courtesy Pay
fee will be assessed for each transaction.
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I thought I had
Courtesy Pay. Why did you return my check as NSF?
Remember, the Courtesy Pay maximum is $500.00 (including all
Courtesy Pay fees). Items are returned NSF when the payment
of the item, combined with the item fee, is more than your
Courtesy Pay available amount.
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If I use Courtesy
Pay and do not bring my account into a positive end-of-day
balance at least once every 30 days, will you report me to
credit reporting agencies?
Yes. If this account is charged off, the account will be
referred to a collection agency and we will report you to
Chexsystems. We will, however, work with any members who
find themselves in such situations.
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How will I know if I
have Courtesy Pay on my checking account?
If you have maintained your account in good standing, we
will assign you an overdraft courtesy of $500.00.
Good standing can be defined as:
- Making regular deposits sufficient to cover
transactions.
- Account is brought to a positive end-of-day balance
at least once every 30 days.
- There are no legal orders outstanding on your
account.
- Your account does not have Northrop Grumman FCU
loans more than 30 days delinquent.
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