What You Need to Know about Overdrafts and Overdraft/Courtesy Pay Fees
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway.
We can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices.
This notice explains our standard overdraft practices.
What are the Standard Overdraft/Courtesy Pay Practices?
We authorize and pay Overdrafts/Courtesy Pay for the following types of transactions:
- Checks and other transactions made using your checking account number.
- Automatic Bill Payments (ACH).
We do not authorize and pay Overdrafts/Courtesy Pay for the following types of transactions unless you ask us to:
- ATM transactions.
- Everyday debit card transactions.
- We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.
If we do not authorize and pay an overdraft, your transaction will be declined.
What Fees are Associated with Partner Colorado Overdrafts?
Under our standard Overdraft/Courtesy Pay practices:
- We charge a fee of up to $35.00 each time we pay an overdraft.
- Courtesy Pay/Overdraft will only activate when a negative balance of $5.00 has been exceeded.
- A maximum of 10 Courtesy Pay/Overdraft fees will be assessed per day.
- By agreeing to have overdrafts paid by the Credit Union, you acknowledge that you have the right to revoke or change your election at any time. The change request must be provided in writing.
Can Partner Colorado Authorize and Pay Overdrafts on ATM and Everyday Debit Card Transactions?
To request additional information on Courtesy Pay/Overdraft coverage, please complete the Ask Us a Question Form located on the right side of this page and a Partner Colorado representative will get back to you.