Discretionary Overdraft Courtesy
Privilege Pay
Mistakes and unforeseen expenses happen to all of us. That's why we are happy to introduce Privilege Pay. Instead of automatically returning a check for insufficient funds, we may pay your overdrafts up to a pre-determined limit. This service is available on qualified checking accounts, as described in our Privilege Pay Discretionary Overdraft Courtesy Policy  (26 kb). Privilege Pay will be used after all other overdraft resources are exhausted.
There is no annual fee for Privilege Pay. You will only be charged if Privilege Pay is used to cover an overdraft. A Privilege Pay fee of $23 will be charged for each item that overdraws your account.
Privilege Pay will save you the expense, embarrassment, and inconvenience of having a check returned to the merchant, and help protect your credit rating.
For more information, see our Questions and Answers about Privilege Pay.
Privilege Pay may cover checks, electric bill payments, ACH payments, debit card purchases, and ATM transactions posted on to your account. Periodic payments that cause your account to overdraw will not be honored with Privilege Pay. A Privilege Pay fee of $23 will be charged for each covered item that overdraws your account. The total Privilege Pay balance, including the overdrawn amount and all fees, is payable upon demand. If your account is not brought up to a positive balance in 30 days, Privilege Pay will be suspended. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts is your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts.
|
