Montgomery County EFCU
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Enjoy Peace of Mind with Courtesy Pay

Ever worry that you didn’t have enough funds to cover a check you wrote? No matter how often you reconcile your account, you may occasionally miscalculate or simply run short. When your debit card is declined or a check has been returned unpaid to a retailer, loved one, friend or business associate it can be embarrassing. And, you may end up paying high penalties to the retailer for returned check charges.

Overdraft Peace of Mind Comes With Any of These Transactions:
Our standard Courtesy Pay practice is to pay checks, automatic bill payments and other transactions using your account number.
We will not authorize and pay overdrafts for automated teller machine (ATM) transactions and everyday debit card transactions on consumer accounts unless you specifically elect this option. These transactions are covered for business accounts.

With COURTESY PAY, MC EFCU may honor an overdraft transaction up to $500 or $750.

Who is Covered by Courtesy Pay?
Courtesy Pay is available to eligible checking accounts. If your account is eligible and a COURTESY PAY limit has been assigned to your account, you will receive a notice by mail.

How Does Courtesy Pay Work?
As long as your account remains in good standing, MC EFCU will honor overdrafts up to the Courtesy Pay limit on your account. An COURTESY PAY fee, currently $30, will be deducted from your account for each overdraft transaction.

When a check, electronic withdrawal, ATM transaction* or everyday debit card transaction* is made that exceeds the balance in your account, the item will be honored up to your COURTESY PAY limit. This means that the merchant who received your check or debit transaction will be paid, or the amount of cash you requested from the ATM will be given to you. Your account will be overdrawn to cover the transaction and will be assessed the $30 COURTESY PAY fee. You must bring your account balance positive within 35 days from the date of the first overdraft occurrence.

How is Courtesy Pay Different Than Overdraft Protection?
The Credit Union has two options for overdraft protection. You can elect to use your regular, special or Christmas savings accounts under the same account number as your checking account for overdraft protection. A $5.00 fee will be assessed for each transfer from your savings account(s). We also offer a line of credit loan that you can apply for and designate as additional overdraft protection. You can apply at any branch.

Courtesy Pay will only be used after you have exhausted the available funds in your other overdraft protection options.

The Choice is yours. Consider These Ways to Cover your Overdrafts:
Returned item due to overdraft: $35 MC EFCU fee + $30 merchant fee*

Ways to cover your overdrafts
Overdraft from regular savings
Overdraft from line of credit
Courtesy Pay (COURTESY PAY)

Cost for each overdraft
$5.00 fee per transfer
$0 fee + variable APR*
$30 per item paid

*The amount of the merchant fee, if applicable, may vary.
**Annual Percentage Rate.

*The Credit Union will not authorize or pay ATM transactions and everyday debit card transactions unless you opt in to have those transactions covered.

What if I do not have COURTESY PAY and would like to have the service on my account?
If you do not have COURTESY PAY on your account and would like the coverage, please contact us at 301-279-1964 or stop by any branch, and if your account is eligible, COURTESY PAY will be added to your account.

What if I do have Courtesy Pay and I want MC EFCU to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call us at 301-279-1964 to opt-in over the phone.

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