Courtesy Overdraft Protection

What would happen if your rent or mortgage checks were not paid in the event of insufficient funds in your account due to a miscalculation or unforeseen circumstance?

What coverage do you have in place to avoid your debit card being declined in the event of insufficient funds in your account?

Privilege Pay is an overdraft program designed to pay checks and electronic items that would otherwise be returned for insufficient funds. Privilege Pay can help prevent the inconvenience and embarrassment of an unexpected overdraft. The best part of having this coverage is there is no cost to you, unless you use the service. If Privilege Pay covers an item, a Paid Non Sufficient Funds (NSF) fee is assessed. Eligibility for Privilege Pay is based on account status at the time an item is presented.  Consumer accounts that have been open for at least thirty (30) days and business accounts that have been open for at least sixty (60) days are eligible for Privilege Pay, provided the account is in good standing.

Coverage Options

There are three different levels of Privilege Pay coverage that are available. Be sure to choose the coverage that will give you the protection you need.

Courtesy Overdraft Levels

Standard Coverage

Standard Privilege Pay coverage is automatically placed on all eligible accounts.  It covers checks, ACH items, Online Bill Pay, and recurring debit transactions if there are not sufficient funds to cover the items. Remember, standard coverage does not cover ATM or everyday debit card transactions. If you attempt to use your debit card to pay for a transaction at a store and the amount of your purchase exceeds the balance in your account, the purchase would be declined.

Full Coverage

You can opt to have your Privilege Pay extended to Full Coverage to include ATM and everyday debit card transactions. This allows you a safety net for your ATM and debit card transactions, in case of an unexpected overdraft.  All of this coverage is available at no cost to you, unless you use the service.

You can opt to have your Privilege Pay coverage extended to Full Coverage one of three easy ways:


  • Click to opt-in by logging in to Online Banking
  • Call the Member Assistance Center at (602)433-7000
  • Visit a nearby branch  

No Coverage

You can choose to opt out of all Privilege Pay coverage.   If you choose to remove your coverage, all checks and ACH items presented against an insufficient balance will be returned unpaid, and an NSF fee will be assessed. In addition, ATM and everyday day debit card transactions will be declined if there are not sufficient funds in the account.


PrivPay

How Privilege Pay can benefit you!

  • Provides a convenient alternative to traditional overdraft protection, at no cost to you unless you use the service (then our Paid Non Sufficient Funds (NSF) fee applies).
  • Gives easy access to overdraft coverage up to the Privilege Pay limit if you aren’t interested in (or don’t qualify for) a line of credit.
  • Saves money in additional fees from merchants or payees by avoiding returned items.
  • Allows greater flexibility in money management.
  • Provides peace of mind that checks, ACH items, Online Bill Pay, and recurring debit transactions may be paid when there is an unforeseen overdraft.
  • Avoids embarrassment due to returned checks or a transaction being declined.
  • Provides the convenience of having funds available automatically in case of an unexpected overdraft, with an option to opt-in for extended coverage for everyday debits and ATM withdrawals.
  • Avoids worry and uncertainty of whether items will be paid with a disclosed Privilege Pay limit.
To learn more about this service, we encourage you to take a moment to read the Discretionary Privilege Pay Disclosure. For additional information, visit the Privilege Pay FAQs or call our Member Assistance Center at (602)433-7000.

 

Equal Housing Lender Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S.Government Agency. ©2014 Desert Schools Federal Credit Union