Sound Credit Union :: Checking

Q. How does the Courtesy Pay program work?

A. You have a $500 or $1,000 Courtesy Pay privilege extended to your personal checking account. Your Courtesy Pay privilege amount is determined in the following way:

All eligible accounts that have deposits totaling $1,000 or more per month will receive a $1,000 Courtesy Pay privilege.
All other eligible accounts will receive a $500 Courtesy Pay privilege.
The Courtesy Pay privilege amount is evaluated monthly and is based on the previous calendar month’s total deposit amount. If your deposit amount changes, your Courtesy Pay privilege amount may change without notice.
Checking accounts become eligible for Courtesy Pay after being open and in good standing for 60 days.

Overdrafts on your checking account up to your limit may be honored by Sound Credit Union, at its discretion. A $29 service fee will be assessed for each check, ATM withdrawal, electronic funds transfer or other debit transaction that brings your account negative. You then have up to 30 days to bring your account current, either through a direct deposit, transfer of funds, or a deposit at one of our branches.

Q. Do I have to apply for this service?

A. No, the Courtesy Pay service has been automatically extended to your account because of your checking account being open for more than 60 days, and being in good standing at Sound Credit Union. It will stay in place as long as you bring your account positive within 30 days of your initial overdraft. Sound Credit Union reserves the right to withdraw this service at any time and you may opt-out of the service at any time.

Q. What if I already have Overdraft Protection?

A. If you already have other overdraft protection products (i.e. transfer from a savings and/or a loan), these will be activated first, in the order you established. If there is no overdraft protection, or after the other account types have been depleted, Courtesy Pay will be activated.

Q. How can I use my Courtesy Pay privilege?

A. You do not have to sign any additional documents and it costs you nothing unless you use the privilege by initiating checks, ATM withdrawals, electronic funds transfers, or other debit transactions for more than the available balance in your checking account.

Q. How will I know when I activate Courtesy Pay?

A. We will mail you a notice advising you when checks or other transactions have been paid using Courtesy Pay.

Q. How do I repay the overdraft?

A. Repayment of the overdraft is required within 30 days. If you have additional overdraft items during those 30 days, a Courtesy Pay service fee will be assessed for each transaction. The account must be brought positive on or before the 30th day from the date of the initial overdraft. Any deposits received by the credit union during the 30 days will be applied first to your overdrawn checking account.

Q. What if I exceed my privilege amount?

A. If you exceed your Courtesy Pay privilege amount, your items will not be paid and will be returned. Our standard NSF fee will be assessed.

Q. What happens if I cannot bring my account to a positive balance?

A. If you cannot bring your account to a positive balance within the 30 day repayment period, your Courtesy Pay privileges will be suspended or revoked and collection procedures will be initiated.

Q. What if I would like to opt-out of having this service?

A. At any time, you may choose to remove the Courtesy Pay service by contacting Sound Credit Union’s Call Center at (253) 383-2016 or (800) 562-8130 and requesting the service be cancelled. If you choose to opt-out of using this service, any check written or transaction completed that may overdraw your account will be returned, and the standard NSF fee will be assessed. You may also be subject to additional fees from the merchant.

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This notice does not constitute either a written agreement of an obligation, or a pre-arranged agreement for Sound Credit Union to pay your overdrafts. Payments of any overdraft (s) will continue at the discretion of Sound Credit Union. The Courtesy Pay service may be withdrawn at any time. Courtesy Pay fee is $29. A Courtesy Pay fee will be assessed for every check, ATM withdrawal, electronic funds transfer or other debit that draws your account negative. Items are paid in the order they are received. You then have up to 30 days from your first overdraft to bring your account current. All fees associated with the payment of overdraft items will be applied to the Courtesy Pay limit. At any time, you may choose to remove the Courtesy Pay service by contacting Sound Credit Union’s Call Center at (253) 383-2016 or (800) 562-8130 and requesting that the service be cancelled.