Discretionary Courtesy Pay FAQ

What is discretionary courtesy pay?
If you don't have enough funds in your checking account, or through your overdraft protection plan, Columbia covers your purchase, up to a pre-determined limit, with our discretionary courtesy pay. Currently, your Columbia checking account comes with discretionary courtesy pay for purchases made by check, ACH (automatic electronic payments), and debit card.

Does it cost money to opt in?
It costs you absolutely nothing to opt in for discretionary courtesy pay for your everyday, one-time debit card transactions. If you ever need it, there is a $28 overdraft fee for us to pay the item instead of declining the transaction. Discretionary courtesy pay is not a loan, and the fee and the overdraft amount must be paid within 14 days.

Why must I opt in to discretionary courtesy pay?
Federal Regulation requires you to opt in to receive discretionary courtesy pay service on your everyday, one-time debit card transactions. If you do not opt in and you do not have available funds in your checking account or through overdraft protection, your debit card transactions will be declined.

Must I opt in to receive discretionary courtesy pay on my checks and automatic electronic payments?
No. The new regulation only applies to everyday, one-time debit card transactions. You do not need to do anything to continue to receive discretionary courtesy pay on other transactions from your Columbia checking.

Once I've opted in, can I change my mind at a later date?
Yes. You or other signers on your account may cancel at any time by contacting the Credit Union.

What other overdraft protection service is available to me at Columbia?
Enrolling in an overdraft protection plan enables automatic transfers from your other designated Columbia accounts such as savings, money market, or line-of-credit, to cover your overdrafts for just $3.00 per transfer. If there isn't enough money in your designated accounts or a transfer cannot be made for another reason, discretionary courtesy pay can help. Instead of your one-time debit card transaction being denied, discretionary courtesy pay may cover the amount of the purchase as an added safeguard. If you are unsure if you have an overdraft protection plan in place, please call or visit your nearest branch.

If I sign up for discretionary courtesy pay, will my debit card purchases always go through?
No. Whether or not a transaction will be paid is discretionary and we reserve the right not to pay. We will make every attempt to pay the transaction, but there is no guarantee.

	How can I avoid overdrawing my account and incurring fees? Always know the balance in your checking account by regularly balancing your account. Set-up free e-alerts through online banking to let you know when your account balance is running low. Establish an emergency savings account to cover unexpected expenses. If you don’t already have it, set-up an overdraft protection plan to automatically transfer funds from other accounts to your checking in the event of an overdraft. Set-up free direct deposit of your payroll checks or recurring government checks to ensure timely, automatic deposits into your account. Learn budgeting skills by attending one of our free financial workshops.