Questions members frequently ask about Courtesy Pay

What is Courtesy Pay?
Courtesy Pay is a service that adds a measure of protection to your checking account. Through Courtesy Pay, Lake Trust Credit Union may cover transactions presented for payment to Lake Trust that would normally be returned for Non-Sufficient Funds (NSF). Instead of returning the overdraft item to the merchant, Lake Trust may cover it up to your approved limit. This limit is based upon your relationship with Lake Trust at the time the overdraft is presented.

What transactions are covered by Courtesy Pay?
The following transactions can cause overdrafts that may be paid by Courtesy Pay:

• Personal checks
• Debit Card purchases
• ACH transactions (electronic withdrawals presented for payment to Lake Trust)
• Online Bill Payer payments

How will I know if Courtesy Pay was used?
You'll be notified by mail if an overdraft item has been covered by Courtesy Pay and asked to bring your account to a positive balance immediately.

How is the Courtesy Pay limit established?
Your Courtesy Pay limit is based upon specific criteria including account balances, length of membership, and NSF history. This Courtesy Pay limit can change on a monthly basis depending upon your circumstances. It's a discretionary service and can cease at any time without prior notification.

Is Courtesy Pay available for new members?
It takes a period of time to build history and a relationship before being eligible for Courtesy Pay. This can be done by taking advantage of additional products and services such as getting a vehicle loan or opening a Certificate of Deposit. We also recommend you sign up for overdraft protection.

What is overdraft protection?
It's a safeguard you can sign up for that automatically transfers available funds from your savings account or line of credit into your checking account to cover the amount of an overdraft.

What if I have overdraft protection on my account?
Regular overdraft transfer options will be applied before Courtesy Pay takes effect.

What are the benefits of Courtesy Pay?
Courtesy Pay saves the expense of having to pay additional fees from merchants, payments being late, or checks being returned NSF several times. It also saves the embarrassment of having a debit card purchase or ACH transaction denied.

Is there a fee for Courtesy Pay?
If you're eligible based upon your relationship with Lake Trust Credit Union, we'll honor (pay) your transaction(s) which will result in your account going negative. The amount of the overdraft item(s) and a Courtesy Pay fee of $29.00 per overdraft item will post to your account. We ask that you bring your account to a positive balance immediately. You pay only when Courtesy Pay is used.

What happens if I don't have Courtesy Pay and my check is returned?
If a check is returned, you'll still receive a NSF charge of $29.00 in addition to a merchant NSF charge that could be as high as $46. The merchant can resubmit the check for payment and you would be charged these fees a second time. If funds aren't available in your account, whether we pay or return an item, your account is assessed a fee, either as a Courtesy Pay charge or NSF charge, but you'll not be charged both fees.  

Do I have to sign up for Courtesy Pay?
You don't need to sign up for Courtesy Pay; qualified members are approved automatically. But you must opt-in to Courtesy Pay. You can do so by clicking this link.

Is Courtesy Pay a loan?
No. It's a non-contractual courtesy that we extend to our members. This feature is discretionary on the part of Lake Trust and can cease at any time without prior notification.