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Courtesy Pay FAQ

When unforeseen expenses arise, we don’t always have the funds to cover those costs in our account. Instead of being declined, GTE Financial offers Payment Protection.

Overdraft Protection

What is Overdraft Protection?

If you’re trying to make a purchase that exceeds the amount available in your account, you can have funds automatically transferred from a different deposit account into your checking.

How do I signup?

To add one of your accounts as overdraft protection, you can complete the ‘Overdraft Protection’ form in Online Banking. Once logged in, click on ‘Forms’ under ‘Resources’ in the main navigation. The form is located under ‘Account Maintenance Forms’. You can also visit a Community Financial Center or give us a call at 813.871.2690 or toll-free at 1.888.871.2690.

Courtesy Pay

What is Courtesy Pay?

GTE Financial offers checking account holders a courtesy pay program to use after all overdraft sources have been exhausted. In the event you do not have sufficient funds in your account at the time a check or electronic debit is presented, the item may be paid in good faith on your behalf by the credit union,* rather than returning the payment to your vendor or declining the transaction. By Opting-in (PDF file opens in new window), this benefit will also be extended to your debit card and ATM transactions.

Why should I Opt-in?

You should Opting-in (PDF file opens in new window) if you want to maintain peace of mind when purchasing necessities (prescriptions, gas, etc.) or when you have an unexpected expense (need your car towed, go to the emergency room, A/C needs repair, etc.) and there are not sufficient funds in your account at the time the transaction is being authorized. The Courtesy Pay program could save you from an awkward situation when paying for services already provided (restaurant, hair salon, etc.). If you choose to Opt-out, these transactions will be declined when funds are not available.

Are there fees?

Yes. You will be charged a $35.00 fee for each approved Check, ACH, ATM, or Debit Card transaction if and when you do not have enough money in your account to cover the transaction. Overdrawn debit card transactions $5.00 or less will not incur a fee. Check, ACH transactions that are rejected will still be assessed a $35.00 fee for any amount overdrawn.

If I sign up for Courtesy Pay, will my debit card charges always go through?

No. Whether a transaction will be paid is discretionary and we reserve the right not to pay. Most overdrafts are paid but there is no guarantee.

If I already have an overdraft protection product, does this still affect me?

If you conduct an ATM or debit card transaction that will exceed the available balance of your overdraft account, Opting-in will allow us to approve that transaction through the Courtesy Pay program and charge a fee to your account. If you Opt-out, those transactions will be declined.

What about automatic debit card payments that I have set up (like a gym membership)?

Debit card purchases that are set up to bill automatically may continue to be authorized at our discretion even if you do not Opt-in. These transactions may incur a fee if you do not have enough funds available at the time of the transaction.

If there are multiple owners on an account, does each person need to Opt-in/Opt-out?

One owner may Opt-in or Opt-out for a joint account. Likewise, any owner can revoke the Opt-in or Opt-out on a joint account.

Can I Opt-in or Opt-out once for all my checking accounts?

No, you must Opt-in or Opt-out for each checking account you own.

What do I have to do to be enrolled in the program?

Checking accounts are automatically enrolled in the Courtesy Pay Program for checks and Automated Clearing House (ACH) payments.  If you would like to authorize Courtesy Pay coverage for ATM transactions and Debit card and point-of-sale (POS) transactions, you may opt-in by visiting any GTE Community Financial Center or in GTE Online Banking by selecting the icon next to your checking account balance. 

How are limits determined?

Limits may be recalculated daily and are based on a number of factors including the age of the account, the frequency and amount of deposits, and account history.  Accounts must be in good standing to be opted-in to the program.

How do I know what my Courtesy Pay limit is?

Unfortunately, limits may change daily and therefore we are not able to provide members with their daily limit. This program is a discretionary courtesy to our members and while we strive to pay your overdraft items whenever possible, there is no guaranteed limit amount. 

Will I receive a notice if I overdraw my account and the transaction is courtesy paid or denied?

Yes, we will send a notice the day after the overdraft occurs.

How do I know if I'm opted-in or out of the program for ATM and point-of-sale Debit transactions?

To verify this Courtesy Pay election, look to the right of your checking account balance in GTE Online Banking.  A green checkmark indicates you are opted in.  A yellow triangle indicates you are opted out of the Courtesy Pay program.  You can click the icon to change your status at any time.

* There is a limit of 6 transfers per month in accordance with Federal Reserve Regulation D.
 **This free program is discretionary and opting-in does not guarantee transactions will be approved if funds are not available. The full amount of the overdraft balance plus related fees will be due immediately, but in no event more than 20 days after the date of the occurrence.
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