Catering to YOU with Courtesy Pay

What do you do to cover temporary cash shortages? Payday lenders? Bounce checks?

There is a better solution for our members: Courtesy Pay

What is Courtesy Pay?

Courtesy Pay is an optional service for Bowater Credit Union members with share draft accounts.  With this service, Bowater Credit Union will honor checks and automatic debits that would otherwise be “bounced” for non-sufficient funds.  With Courtesy Pay Plus+ you also have coverage on debit card transactions.

What does it do for me?

By having Courtesy Pay or Courtesy Pay Plus+ service, you can relax knowing you will never have to suffer the cost and embarrassment of bouncing a check of having your debit card rejected.  Bowater Credit Union will honor certain withdrawals, allowing your account to go negative up to $500.  Then, you bring your account positive with your next deposit.

What transactions are covered?

With basic Courtesy Pay service your checks and ACH withdrawals are covered.  If you choose Courtesy Pay Plus+, debit card transactions are also covered.

How much does Courtesy Pay cost?

There is no monthly or annual fee to have Courtesy Pay or Courtesy Pay Plus+ service on your account.  Each time an item is overdrawn, you are assessed the same fee as the fee for Non-Sufficient Funds.  That means you don’t pay for the service unless you use it.

Who is eligible for Courtesy Pay service?

All members who are in good standing, who have been members for more than 90 days, and are 18 or older are automatically given basic Courtesy Pay service (exception: Fresh Start Checking Accounts).  All members meeting those requirements can choose to opt in to Courtesy Pay Plus+.  If you do not want Courtesy Pay service, call or visit any branch to find out how to opt out (423) 336-7268.

Why does Bowater Credit Union offer Courtesy Pay and Courtesy Pay Plus+?

Your credit union knows that this service will make your life easier and more affordable if it is used to cover temporary cash shortages.  We don’t want our members to have to suffer the fees and credit damage associated with returned checks, and we don’t want members to have to resort to Payday Lenders.

Bowater Credit Union offers free overdraft protection through my savings account and Personal Line of Credit – will this replace that?

No.  If you overdraw your checking account, the credit union will look first to savings and then to a Personal Line of Credit, if applicable, unless you have specified otherwise.  After all those efforts have been exhausted, Bowater Credit Union will use Courtesy Pay or Courtesy Pay Plus+ service and charge the applicable fee for each overdrawn item.

How does Courtesy Pay work?

When you withdraw more money from your checking account than you have available, Bowater Credit Union will honor the withdrawal as long as it is a covered transaction (check or ACH; Debit Card if you have Courtesy Pay Plus+).  You will be charged the equivalent of the NSF fee for each item.  Your account will be allowed to go negative up to $500, including fees (exception: some members may have lower limits based on account activity, and Premium Interest Checking Accounts have a $1,000 limit).  You have up to 15 days to bring your account positive (30 days if you have direct deposit).  If your account is still negative after 30 days, Courtesy Pay privileges will be revoked. In the event the account is still negative after 45 days, your account will be closed and the action will be reported to TeleCheck.

How to change your Courtesy Pay preference

If you’d like to change the type of Courtesy Pay service you have on your checking account (no Courtesy Pay, Basic Courtesy Pay, or Courtesy Pay Plus), visit our applications and forms page to get the form.

Click here for full policy: Courtesy Pay Policy