Courtesy 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.

  • Courtesy Pay is automatically available on qualified accounts once the account has been open for 30 days; it is not a service for which you must apply.

    Courtesy Pay covers particular types of overdrafts. However, if you would like the coverage it provides to extend to ATM and everyday debit card transactions, you must specifically request it (see information below regarding Opting-In to Overdraft Coverage).

  • The Courtesy Pay limit is set based on each member’s relationship with the credit union. It is dynamic, which, in this case, means that it can change as often as daily, based on a number of factors. It is set at a range between $750 and $1,750. The limit includes the amount of the overdraft(s), plus a Paid NSF fee (as stated in the current Rate & Fee Schedule) for each item. The Paid NSF Fee is currently $28 per item, and is the same amount as the NSF Fee that Tyndall assesses for checks that are returned as “Unpaid.”

How does Courtesy Pay work?

  • If you never use Courtesy Pay, there is never any fee to pay.

  • If you do not have sufficient funds available in your Checking (or Money Market) Account, Tyndall will access the standard Overdraft Protection sources established on your account first in order to cover the overdraft.

  • Once your standard Overdraft Protection sources have been exhausted, Tyndall may pay the item through Courtesy Pay, up to the established limit.

  • The Courtesy Pay limit includes the amount of the overdraft(s), plus a Paid NSF Fee per item (currently $28).

  • Courtesy Pay applies to checks, ACH (automatic or pre-authorized) debits, and Tyndall Online Banking/Bill Pay transactions. It does not apply to GENIE24 transactions.

  • Courtesy Pay coverage does not apply to ATM withdrawals and everyday Check Card (debit card) transactions automatically. If you would like to have Courtesy Pay coverage apply to those types of transactions, you must specifically request it by Opting-In to Overdraft Coverage. If you do not want those transactions covered, we recommend you Opt-Out of Overdraft Coverage.

  • The Courtesy Pay overdraft limit is not included in your “available balance” shown at the ATM, through GENIE24, or through Online Banking. If you withdraw funds in excess of your available balance at an ATM and you have Opted-In to Overdraft  Coverage, the withdrawal may access Courtesy Pay and you would incur overdraft fees.

  • You are responsible for managing your account; we recommend you regularly monitor your account through Online and/or Mobile Banking so you are immediately aware if an overdraft occurs. No separate notification is sent to you when Courtesy Pay is used.

  • If you exceed your Courtesy Pay limit, any additional items presented for payment will be returned and applicable fees will be assessed.

  • Because Courtesy Pay is a non-contractual courtesy extended to you by the Credit Union based on how well you manage your account, it can be removed from your account at any time and at the sole discretion of the Credit Union. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay them. For example, we typically do not pay overdrafts if your account is not in good standing, if you are not making regular deposits, or if you have too many overdrafts.

Examples:

With Courtesy Pay
Available Checking Account Balance: $25
Written Check Amount $50
No Overdraft Protection sources available  
Result: Check is paid to Merchant.  
TFCU Courtesy Pay Fee Assessed: $28
Merchant Fee:1 $0
Total Fees: $28
1The amount of the merchant fee, if applicable, may vary


Since the check is paid to the merchant, there is no merchant fee and no impact on your check privileges with that merchant.

Without Courtesy Pay
Available Checking Account Balance: $25
Written Check Amount $50
No Overdraft Protection sources available  
Result: Check not paid. Check returned to merchant.  
TFCU NSF Fee Assessed: $28
Merchant Fee:1 $35
Total Fees: $63
1The amount of the merchant fee, if applicable, may vary


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 to cover your everyday Check Card and ATM transactions, please be sure to Opt-In.

Just contact our Call Center at 850-747-4300 (888-896-3255, toll-free) or stop by one of our branches and speak with a Financial Sales Representative.

If you have not Opted-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 Checking Account and your Finances

The following documents are available to be downloaded in Adobe Acrobat (.pdf) format:


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.

Fees are subject to change without notice; please refer to our current fee schedule. If your account is not in good standing, the credit union may remove Courtesy Pay from your account without notice.

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.