Privilege Pay is an overdraft service for your checking account. With Privilege Pay, checks and ACH debits that might otherwise have been returned for non-sufficient funds will be paid, up to a limit of $500.00. It can provide an occasional, short-term solution for everyday financial headaches.
How does Privilege Pay work?
Privilege Pay is used to cover items that would otherwise be returned as Non-Sufficient Funds. If you overdraw your account, Privilege Pay will cover written checks, preauthorized drafts to third parties, ACH debits, and everyday debit card transactions. If you opt in, Community 1st will never charge a fee on Privilege Pay until your negative balance exceeds $5.00. Beyond that and up to the overdraft limit of $500.00, you will be charged an overdraft fee of $25.00 per item, up to a daily maximum charge of $75.00. If you do not opt in, your debit card transactions will be immediately declined if you do not have sufficient funds in your checking account.
How do I get Privilege Pay?
You must “opt in” for Privilege Pay. Simply fill in the Opt-In box below and click "Submit," or visit with a Community 1st member service representative. There is no charge to opt in to Privilege Pay.
What if I do not want Privilege Pay?
No problem. You can choose not to opt in. No action on your part is necessary.
Can Privilege Pay be taken away?
Yes. The privilege can be taken away if your account is no longer in good standing as defined by the Credit Union. Eligibility is based on you managing your account in a responsible manner.
Are there other overdraft protection products available?
Yes. The Credit Union will automatically transfer money from your primary savings account to cover checking account overdrafts. Transfers are made in $100 increments with no charge. These transfers will be included in the federally regulated limit of 6 transfers per month. We also offer an overdraft protection line of credit, which similarly transfers money in $100 increments for a $5.00 fee to cover overdrafts. The line of credit is subject to credit approval and nominal finance charges.