Non-Sufficient Fund items may try to clear your account more than once, resulting in multiple returned items, depending on the merchant.Īutomatic Overdraft Protection is available for members to set up one or two accounts as a safety net when transactions try to clear your primary account and the funds are not available. Non-Sufficient Fund items are items that will be returned or declined payment, as there are not enough funds in an account to cover the transaction. If you would like overdraft coverage for your ATM withdrawals and everyday debit card purchases, simply ask us.įor more details regarding your options for overdraft coverage, please refer to "What You Need to Know About Overdrafts and Overdraft Fees". If approved, COURTESY PAY overdraft coverage will be automatically available for checks, automatic bill payments and other debit transactions. However, if you have an overdraft, your account will be charged our standard $25 non-sufficient funds (NSF) fee. Courtesy Pay does not guarantee that CSE will pay your insufficient item. Courtesy Pay is a non-contractual service, whereby we may honor your insufficient transactions up to your limit of $400, as long as you maintain your checking account in good standing ( view our Courtesy Pay Terms and Conditions). ![]() (If we return the check you will be charged an NSF fee.) That fee will be deducted from your account, further reducing the balance.Ĭourtesy Pay* overdraft protection is one more way we can help you meet unexpected financial needs.Īt CSE, we understand everyone needs an occasional safety net, which is why we offer Courtesy Pay overdraft protection. In this case, since the charge is based on the available balance, you will be charged an overdraft fee. Because you have only $120 available (there is a hold on your account for the pending restaurant charge of $30), your available balance would be -$10 if we pay the check, even though your actual balance is $150. Before the restaurant charge is sent to us for processing, a check that you wrote for $130 is presented for settlement. The transaction is memo-posted to your account, reducing your available balance to $120. Each debit transaction that we process when your account has a negative available balance at the time the debit transaction is processed is an overdraft, subject to an overdraft charge.Įxample: Assume your actual and available balances are both $150, and you swipe your debit card at a restaurant for $30. This determines the available balance at any given point in time for overdraft purposes. ![]() Memo-posted EFT debits (i.e., debit transactions that have been authorized but have not yet settled) are subtracted from the actual balance when the transaction is authorized. Debit transactions are subtracted from the actual balance when the debit transaction settles. Credit transactions are added to the actual balance when the credit transaction settles. As transactions are processed throughout the day, we add them to, and subtract them from, the actual balance as they occur. If there are not sufficient funds, one of the previous two scenarios will play out.įor the purpose of determining whether an overdraft has occurred, we use your available balance. If there are sufficient funds in the back-up account, CSE will automatically transfer sufficient funds to cover the transaction. If a member has Automatic Overdraft Protection setup, a transaction that would normally pull your account into the negative would first look at a back-up account that the member has setup.If this happens, your transaction will be paid, and your account will be charged the standard $25 Courtesy Pay fee. ![]() If a member has Courtesy Pay Overdraft Protection set up, CSE may honor the insufficient transaction. ![]() If this happens, the payment is returned and your account is charged a $25 NSF (Non-sufficient funds) return fee. When this happens, there are three possible outcomes: An overdraft occurs when a debit/withdrawal transaction attempts to come out of your account when there are not enough funds to cover the transaction.
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