Terms
and
Conditions
-
Courtesy
Pay
Description
of Service
Courtesy Pay
is a service
that Matadors
Community Credit
Union offers
to its checking
account holders.
With Courtesy
Pay, the Credit
Union at its
sole discretion
may honor and
pay checks, automatic
debits (ACH),
Check Card purchases,
ATM withdrawals,
and Bill Payer
withdrawals drawn
against a checking
account that
does not have
sufficient funds
available at
the time of the
presentment.
Eligibility
Courtesy Pay is made automatically available to all checking account
holders who meet specific criteria. Account holders in good standing
and not under administrative/legal order or a levy may be eligible.
If you qualify for Courtesy Pay, there is no action required on
your part. The credit union will determine a specific limit for
your checking account based on, but not limited to length of membership
and account history. The minimum limit is zero the maximum is $1,000.00
per checking account.
Fees
Your account will be charged a Courtesy Pay service fee for each
item (check, automatic debit (ACH), ATM withdrawal, Debit (Point-of-Sale)
withdrawal, Check Card purchase, or Bill Payer debit). The fee for
each item paid is $25. Courtesy Payment (overdraft payment), Courtesy
Pay fee, and other charges may not exceed the cumulative Courtesy
Pay limit assigned to your account. The service charge is not refundable.
More than one Courtesy Pay fee may be charged against your account
per day, depending on the number of items presented on, and other
withdrawals made from, your account.
In order to cover as many items as possible, small dollar amount
checks will be paid first. Authorization for debit card, ATM, ACH
& Bill Payer transactions will be immediate in the order they
are received. The order in which transactions are received and processed
by the credit union can affect the total amount of Courtesy Pay
fees you incur.
If we choose not to pay a check, you will be subject to the Non-Sufficient
Fund fee (NSF) as set forth in our schedule of fees.
Notices
This is NOT a
contractual
obligation.
Your Courtesy
Pay limit may
be reduced
to zero at
any time. Requirements
and procedures
may also be
changed at
any time without
notice to you
and at the
sole discretion
of Matadors
Community Credit
Union.
After
your existing overdraft protection,
if any, has been exhausted, and
your account qualifies for a
Courtesy Pay limit, checks may
be paid at the sole discretion
of Matadors Community Credit
Union.
We
do not guarantee the payment
of any item. We may at our sole
discretion pay checks or automatic
debits in any order or return
them unpaid. Even if at one time,
you qualified for Courtesy Pay
and we paid checks in this manner,
we may choose not to pay any
other checks and remove your
account from this program without
notice to you. Matadors Community
Credit Union will NOT be liable
for damages, including, but not
limited to consequential damages,
for checks we return unpaid.
Checks will be returned to the
presenting bank when your Courtesy
Pay limit is depleted or if you
do not qualify for Courtesy Pay.
If
we pay an item under the Courtesy
Pay program, we will send you
a notice to the address of record.
You must bring your account to
a positive status by paying back
the funds we covered, plus any
service charges under the Courtesy
Pay program. As set forth in
our full account disclosure,
under “Credit
Union’s
Right to Offset”,
you agree that the credit union
has the right to offset against
any account of any Account Holder
to cover any amount owing to
the Credit Union for any reason.
Organization, Savers Plus, and Health Savings accounts are excluded
from this program.
The
terms of this program shall be
governed by and construed according
to the laws of the State of California.
All aspects of this program shall
be deemed to be entered into
in the City of Northridge, State
of California. Any lawsuit arising
out of this program shall be
filed in a court of competent
jurisdiction in the County of
Los Angeles, State of California.
You
have the option of withdrawing
from this program. When you withdraw
from the program, your checks
or other items covered under
the Courtesy Pay program will
not be paid when you have insufficient
funds in your account or insufficient
overdraft protection funds. To
withdraw from the Courtesy Pay
program, you will need to place
your request in writing and send
it to:
Matadors
Community Credit Union
P.O. Box 1052
Northridge, CA
91328
Please
refer to our full account disclosure
for any other information regarding
your checking account.
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