Courtesy Pay
A valuable tool to help manage your Tyndall Federal Checking AccountCourtesy Pay is a member benefit which may be offered to our Members who are in good standing with Tyndall Federal Credit Union and meet certain qualifications. Courtesy Pay is
not a loan or a line of credit, but it is a service designed to assist in the event of an overdraft on your
Tyndall Federal Checking or Money Market Account(s). - This program allows you to take the account balance below zero for a short amount of time.
- You must bring the account to a positive balance as soon as possible within 30 days.
- The Courtesy Pay limit is $500, which includes the amount of the overdraft(s) plus a $20 fee per item. (This fee is the same amount as the NSF fee that Tyndall Federal assesses for checks that are returned as "Unpaid.")
How does Courtesy Pay work?
- If you do not have sufficient funds available in your Checking (or Money Market) Account, Tyndall Federal will access the standard Overdraft Protection sources established on your account first.
- Once your Overdraft Protection sources have been exhausted, Tyndall Federal may pay the item through Courtesy Pay - up to the established $500 limit. If so, you will be charged a $20 Courtesy Pay fee for each item paid.
- You then have a maximum of 30 days in which to bring your account to a positive balance.
Examples:
Since the check is paid to the merchant, there is no merchant fee and no impact on your check privileges with that merchant.
Since
the check is returned as
“Unpaid,” you may be placed on the merchant’s
“Bad Check” list and your check privileges with that merchant may be
revoked.
Already have Courtesy Pay on your account?
If so, it is important to note that, because of recent legislation, we
can no longer authorize and pay overdrafts for your everyday debit card
transactions or for ATM withdrawals unless you ask us to.
If you wish keep your Overdraft Coverage in place as it is today, please click on the button below and select "Opt-In" on the secure Overdraft Coverage form.
If
you do not Opt-In, you will no longer have the coverage on your
everyday debit card transactions and ATM withdrawals, effective August
15, 2010. Regardless of your decision, the coverage will remain in place
on your checks and ACH transactions.
For more information, please click here.
Frequently Asked Questions about Courtesy Pay
Tips for Properly Managing your Tyndall Federal Checking Account and your Finances
The following documents are available to be downloaded in Adobe Acrobat (.pdf) format:
FREE Adobe Acrobat Reader
The Courtesy Pay program does not constitute either a written agreement of an obligation or a prearranged agreement for Tyndall Federal Credit Union to pay your overdrafts, and we may withdraw this privilege at any time. Payment of any overdrafts will continue to be at the credit union's discretion. For example, we typically do not pay overdrafts if your account is not in good standing, or if you are not making regular deposits, or if you have too many overdrafts.
Should you have any questions about the Courtesy Pay Program, please speak with one of our Financial Sales Representatives at any of our Branch locations, or contact our Call Center at (850) 747-4300 or toll-free at 888-896-3255. Or, call our Courtesy Pay Administrator at (850) 769-9999, ext. 8413, or toll-free at 888-896-3255, ext. 8413.
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