We encourage our
members to manage their finances responsibly; however, we realize
that there may be times when you make a mistake, have unplanned
expenses or run short on cash – all leaving you with a negative
balance in your checking account to cover expenses. Returned checks
and denied electronic transactions can be inconvenient. They can
also be costly and result in possible damage to your credit history.
To help, we provide Courtesy Pay*, a checking account overdraft
privilege service that will pay overdrafts up to an a $500.00
overdraft limit– all for a $30 fee for each item we pay against an
Pay* covers transactions including checks, electronic debits and
automatic bill payments. For overdraft protection on your ATM and
debit card transactions, Federal Regulations require you to
personally 'Opt-In' or to complete the "Opt-In" process.
If you would not like to take advantage of this great service, you
can easily Opt-Out with our form below. We also offer you the
opportunity to lower your $500 Courtesy pay limit by using the
Opt-Out form also.
Fill out these forms directly online with our Doc-U-Sign Program
Online Forms are found on our
limit daily for a Pin-based transaction using your Master Money
Debit Card is $1,000. In other words any purchase or ATM withdrawal
which requires the use of your PIN will not be able to surpass
$1,000 for that day.
Your debit card can also
be used for credit card type transactions where no PIN is necessary
once you select “credit” at the Point Of Sale. The limit daily for
this transaction is $2,500. It is recommended that you use this for
most purchases if possible which will allow you to have more funds
at your disposal for the day. This also includes any method of
payment that requires your Debit Card number.
Maintaining a check
register is an excellent way to balance your checking account.
This allows you to record any withdrawals and deposits from the
available amount keeping in mind what your new balance ought to be.
Making use of the
Online Banking and STAR (phone) service is a great help in more ways
than one. This allows you to find out what cleared the account.
We encourage you to use this system to check balances as well. This
way you can avoid that $1 fee charged each time there is a balance
Opting in to Courtesy
Pay. A new service now offered by your credit union to alleviate
the stress of incoming payments. We have automatically enrolled all
our members, and incoming checks and other checking accounts debits
will be covered up to $500. Opting in will also cover your every day
debit card transactions up to $500 (including the minimal
transaction fee of $25).
Q: What is Courtesy Pay?
A: Courtesy Pay* is a service we provide to cover transactions up to
a $500.00 limit on your checking account. There is a $30 fee for
each transaction we cover using Courtesy Pay.
Q: Why do I have to opt in now?
A: Courtesy Pay is already set up to cover transactions including
checks, electronic debits and automatic bill payments. As of July 1,
2010 the Federal Government requires consumers to opt in or
agree to use Courtesy Pay to cover ATM and everyday debit card
transactions. We need your permission in order to set you up to use
this part of the service.
Q: How can I opt-in for overdraft protection on my
ATM and debit card transactions?
A: You can opt-in by completing our online form above or stopping by
any branch and we’ll do it for you.
Q: What is an overdraft?
A: An overdraft occurs when you do not have enough money in your
account to cover a transaction, but we pay it anyway.
Q: What types of overdraft protection do you offer?
A: We offer two types of overdraft protection.
Q: What is the fee for Courtesy Pay?
A: We will charge you a fee of $30 each time we pay an overdraft.
Q: Can I opt in later?
A: Yes, you can opt in at any time.
Q: I opened my new account. Do I have Courtesy Pay?
A: Yes, you have Standard Courtesy Pay.
Q: If I opt out totally will my transactions be
A: Yes, and you will be charged $30 per transaction.
Q: If I partially opt out will my debit card
transactions be authorized?
A: No, as specified by law, we will not pay everyday debit card
transactions unless you have specifically opted in for this service.
AND LIMITATIONS: NY TEAM Federal Credit
Union’s Courtesy Pay is a discretionary non-contractual
courtesy service that is available on individually and
jointly owned checking accounts in good standing. It is not
an obligation of NY TEAM FCU, and we may refuse to provide
Courtesy Pay on any checking account at any time. We
reserves the right to limit participation and to suspend,
revoke, or discontinue this service without prior notice.
Additionally, NY TEAM FCU may change the terms, conditions
and fees within the Courtesy Pay service in accordance with
NYTEAM FCU assumes no responsibility for the content or information
contained within the below linked references or any others contained
within our site.
This is a private computer system and is the property of NY TEAM
Federal Credit Union. Users (authorized or unauthorized) have no
explicit or implicit expectation of privacy.
Any or all uses of this system and all files on this system may be
intercepted, monitored, recorded, copied, audited, inspected, and
disclosed to authorized site, NY TEAM Federal Credit Union, and law
enforcement personnel as well as authorized officials of other
agencies, both domestic and foreign. By using this system, the user
consents to such interception, monitoring, recording, copying,
auditing, inspection, and disclosure at the discretion of authorized
site or NY TEAM Federal Credit Union personnel.
Unauthorized or improper use of this system may result in
administrative disciplinary action and civil and criminal penalties.
By continuing to use this system you indicate your awareness of and
consent to these terms and conditions of use. LOG OFF IMMEDIATELY if
you do not agree to the conditions stated in this warning.
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