Important Changes to our Courtesy Pay Program

Beginning August 1, 2011 we are making an important change to our Debit Card Courtesy Pay service that we want to make you aware of. Instead of having a tiered fee structure based on the amount the account is overdrawn, effective August 1, 2011 each Debit Card Courtesy Pay transaction will have a $10 fee applied. All other Courtesy Pay fees for ACH and checks will remain unchanged.

An overdraft occurs when you do not have enough money in your checking account to cover a transaction but we pay it anyway. Should this occur, with a debit card transaction, we may pay the debit with our Debit Card Courtesy Pay program, but only if you opt in to the program. Our Debit Card Courtesy Pay program allows you to have a negative balance while we may pay the overdrafts up to $300. With Debit Card Courtesy Pay coverage, you have the flexibility to avoid the embarrassment of having a debit card transaction declined at a local restaurant or your neighborhood grocery store. By opting in to this Debit Card Courtesy Pay program, you get peace of mind knowing these types of uncomfortable situations may be avoided.

For each Debit Card Courtesy Pay transaction, a $10 fee is applied. If you opt in and never use this overdraft protection, you won’t be charged for it. You can opt out of Courtesy Pay at any time. If you do not opt in, we are required to decline your debit card purchases if the funds are not available.

If you want GEFCU to authorize and pay overdrafts on your debit card transactions, please complete this form and mail it to us at PO Box 81535, Austin, TX 78708-1535 or you may fax it to 512-836-3732. You may also opt-in to this program by visiting any GEFCU location or by calling Member Services 512-339-9812 Option 1.