You may have heard of FSU Credit Union’s Overdraft Protection and Courtesy Pay services, but you still aren’t exactly sure what the difference is between the two. Both services keep your debit card from being declined when making a transaction, but the method each service uses is different.
Overdraft Protection uses money from your savings account or an established line of credit to cover transactions when you have insufficient funds in your checking account. So if you don’t have enough to cover your purchase, you’ll tap into your own available funds.
Courtesy Pay advances you the money to overdraft your checking account to a predetermined amount up to $1,000, for a $30 fee.
There are some stipulations to qualify for Courtesy Pay. Members must:
- be at least 18 years old
- have a draft/checking account with a positive balance
- be no more than 30 days past due on any FSU Credit Union loan
- have an automated direct deposit into their account
- have the account open for a minimum of 45 days.
Courtesy Pay is automatically activated for members meeting the requirements and will be removed from accounts that remain negative for 30 days.
For more information and frequently asked questions on FSU Credit Union’s Courtesy Pay service visit our FAQ page, get in touch with your partners at FSU Credit Union by visiting any FSU Credit Union branch or call (850) 224-4960 (Tallahassee) or 877-GO-FSUCU (Toll Free).