What is Courtesy Pay?
Courtesy Pay is the overdraft protection service on your checking account which pays a check, a debit card transaction or an ACH transaction presented for payment against your account- even if it causes the account to become overdrawn. Courtesy Pay will cover overdrafts up to $400 for a $25 fee per transaction. This is provided to Maine Family members in good standing whose account has been open for 60 days or longer.
Courtesy Pay is not an invitation to overdraw your account, but it is an added layer of safety should you accidentally present items for more than you have in your account, or an inadvertent error which causes the account to be overdrawn. Overdraft protection from savings and/or Overdraft Line of Credit are utilized BEFORE courtesy pay can be used.
Why is it important to opt in to Courtesy Pay? Imagine you are low on gas, or you need to buy medicine for your child. You swipe your card only to find it is declined because there isn’t enough money available in the account. If you opt in for Courtesy Pay, we cover the transaction, access the fee and send you a notice.
If you choose not to opt in to Courtesy Pay for one-time debit card and ATM transactions and your account is not set up with other overdraft protection services such as automatic transfers from your savings, transactions on insufficient funds will be declined at the point of sale.
To opt in to Courtesy Pay, simply call 1.800.783.2071 or stop in either one of our branches.
If you have questions about overdraft protection services, simply call Member Services.
How does it work?
- Overdrafts up to a total of $400 are covered.
- This creates a negative balance in the account. Within 30 days, preferably sooner, you, the member, are expected to pay all the overdrafts and related fees.
- Limit of up to 5 fees per day.
- Each time a member’s overdraft is paid, a fee equal to Maine Family’s current insufficient funds fee will be charged to the member for each item paid. The amount charged for each item and the related fees will be subtracted from the total limit of $400.
- Overdraft protection from savings and/or Overdraft Line of Credit are utilized BEFORE Courtesy Pay can be used.
- A member has the right to discontinue this service at any time by notifying Maine Family at 783-2071.