What does Courtesy Protection privilege cost?
Do I need to apply for this service?
What is my Courtesy Pay limit?
How will I know when I use my overdraft limit?
What if I go beyond my Courtesy Pay limit?
How quickly must I repay Courtesy Pay?
What types of accounts are not eligible for Courtesy Pay protection?
What if Courtesy Pay is not for me?
What does Courtesy Protection privilege cost?
- There are no additional costs associated with the overdraft privilege unless you use Courtesy Paysm. If you use Courtesy Pay, our standard NSF/overdraft fee will apply to each item that overdraws your eligible checking account. Checks drawn up to your Courtesy Pay limit will generally not be automatically returned unpaid, but will be considered for payment using your Courtesy Pay limit This can save you the high costs and embarrassment associated with returned check fees charged by merchants and retailers.
Do I need to apply for this service?
No. Courtesy Paysm may be applied to any qualifying checking account that meets the requirements for good standing.
What is my Courtesy Pay limit?
Personal checking* $750
Business checking* $1,500
Not all checking accounts are eligible and some restrictions apply to eligible accounts. Courtesy Pay is not available to account holders less than 18 years of age. Your Courtesy Pay limit will include standard NSF/overdraft fees that are charged to your account. Some restrictions apply and you should read our Courtesy Pay Disclosure for more information.
What if I go beyond my Courtesy Pay limit?
- Overdrafts beyond your established Courtesy Pay limit, or if you do not maintain your account in good standing as defined in our Courtesy Pay Disclosure, may result in checks being returned to the payee. The fee for paying an item is the same as for returning one. Standard NSF/overdraft fee will be charged and assessed to your account for each item. We will continue to notify you by mail of all paid and returned overdrafts, and of our fees for these overdrafts.
How quickly must I repay Courtesy Pay?
- You need to bring your account balance positive within 30 days, or upon our demand. If you are not able to repay as we require, you will receive a letter informing you of your options. If, after a period of time, your account has not been brought into a positive balance, we will have no option but to close your account and take steps to recover the funds.
What types of accounts are not eligible for Courtesy Pay protection?
The following retail and commercial accounts are NOT eligible:
- All savings accounts, money market accounts and accounts held by customers ages 18 years and under
What if Courtesy Pay is not for me?
If you feel this service is not for you, please let us know. We have other options that may help to cover inadvertent overdrafts, such as lines of credit and transfers between accounts. We would be happy to discuss these alternatives with you.
For more information, call (413) 443-5601, 1-800-773-5601, stop into any Berkshire Bank office, or contact us.
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