Overdraft service opt-in
Important information about overdrafts and overdraft fees
An overdraft occurs when you spend or withdraw more money than you have available in your account at the time an item is presented.
Deseret First Credit Union provides several ways of covering your overdrafts including Courtesy Pay -- an overdraft line of credit or a link from your account to another account with us. This notice only explains our Courtesy Pay Program. Please contact us to discuss other available options.
Courtesy Pay ProgramOur Courtesy Pay Program is offered on all checking accounts to save you from cancelled transactions due to lack of funds. We automatically cover the following transactions:
- Automatic payments such as preauthorized transactions, ACH transactions, etc
The following transactions REQUIRE YOUR CONSENT for the credit union to include them in the Courtesy Pay Program. Choosing not to opt in may result in the following transactions being declined:
- ATM withdrawals
- Debit/credit card purchases made at a store, online, or by telephone
Overdraft FeesEnrolling in the Courtesy Pay Program does not guarantee the credit union will pay your overdrafts. For example, overdrafts will not be paid on accounts that are not in good standing. If the credit union pays an overdraft, you will be charged fees as described:
- A $28.00 Courtesy Pay fee each time we pay your overdraft
- A Courtesy Pay fee for each day your account remains overdrawn. If you account has a negative balance for more than 30 days, we may suspend your account and take further steps to recover the funds. There is not limit on the total Courtesy Pay fees charged for overdrawing your account
Courtesy Pay ConsentConsent to opt in from any account owner will be treated as an affirmative consent from all account owners. An opt out from any account owner will also be treated as such. At any time, you have the right to revoke the prior decision made and select the alternate option as listed below. Please allow one business day for processing.
Choose ONE Courtesy Pay Program option you would like on your account.
Full Coverage: I want Deseret First Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions as well as my checks and ACH transfers
Standard Coverage: I do not want Deseret First Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions; only my checks and ACH transfers