Courtesy Pay FAQ

What is an overdraft protection plan?

Overdraft protection helps you avoid costly overdraft fees when you do not have sufficient funds in your checking account for a check, electronic debit, ATM, or debit card transaction you authorized.

Your checking account is automatically linked to your savings account for overdraft purposes. You may also apply for an overdraft line of credit. We automatically transfer available funds from these accounts into your checking account as needed to avoid an overdraft situation. There is a $3 fee charged to your savings account for each overdraft transfer. Transfers from an overdraft line of credit are free; however, interest accrues from the date of the transfer.

What is Courtesy Pay?

When you don't have sufficient funds available in your checking account, including any overdraft protection plan you have established, to clear your paper checks or pre-authorized electronic transactions, SESLOC may cover your inadvertent overdrafts in amounts up to $200 OR up to $1,000 including fees, based on qualification. The Courtesy Pay limit is based on deposit amounts during the previous 35 days for accounts in good standing. This protects you from returned checks and electronic debits. It can also help protect your good credit, save you the inconvenience of having transactions declined, and reduce the possibility of additional merchant fees. 

How much does Courtesy Pay cost?

When your available balance goes negative, Courtesy pay covers your overdraft.  Courtesy Pay fees are based on the transfer amount and will not exceed $100. For current fees associated with Courtesy Pay, view our Fee Schedule » 

How do I qualify for Courtesy Pay?

SESLOC members in good standing with a checking account that has been open for at least 90 days, who make regular deposits sufficient to cover transactions, are automatically enrolled in Courtesy Pay for paper checks and pre-authorized electronic items cleared through the automated clearing house (ACH). This automatic coverage includes recurring debit card transactions for the payment of a bill that you have previously authorized. 

Is there coverage for ATM and Point of Sale transactions using my Visa Debit Card?

Yes, an additional level of protection is available for your ATM and one-time/everyday debit card point-of-sale transactions. These transactions are ATM withdrawals and retail purchases with your SESLOC debit card. You must qualify for Courtesy Pay to use this additional coverage and it requires that you complete our Opt-In form. You may opt-in through Online Banking, or complete the Opt-in Form and return it to any SESLOC branch.

  Courtesy Pay Opt-In form

If you do not complete the Opt-In form, Courtesy Pay protection can still cover paper checks and electronic items cleared through the automated clearing house (ACH), including recurring debit card transactions for the payment of a bill that you have previously authorized.

How do I decline Courtesy Pay Protection?

If you would like to be excluded from the discretionary payment of overdrafts entirely, you may opt out. Any owner of the account may authorize this. Your Opt-Out covers all transactions on the account, regardless of which account owner initiated the transaction. To opt out, send a signed written notice to:

SESLOC Federal Credit Union
Attn: Member Support
P.O. Box 5360
San Luis Obispo, CA 93403-5360