Frequently Asked
Questions
Do I have to apply for this service?
No. PFFCU's Courtesy Overdraft service is automatically added to
PFFCU checking accounts that are in good standing and meet our
eligibility requirements. If you wish to know if this service is
currently available to you, you may call 215-931-0300 or 800-228-8801.
How much Courtesy Overdraft protection do I have?
The amount you qualify for will
depend on the frequency and amount of
deposits made
to your
account,
and
the
number of
days per month your account is overdrawn. The Courtesy Overdraft
limit may change monthly depending on your deposit practices and
overdraft history.
How do I use the Courtesy Overdraft service?
It is automatic if you overdraw your account by check, preauthorized
ACH debit, through the use of Bill Payer or for PIN and signature
point-of-sale transaction purchases made with a PFFCU Check Card
or PFFCU ATM card. Overdraft Protection from your S1 and/or PLOC
will be used before Courtesy Overdraft Protection is activated.
Can I Opt Out of Courtesy Overdraft?
Yes, Courtesy
Overdraft is optional. If you do not want Courtesy Overdraft on your
account, please contact the PFFCU at 215-931-0300 or 800-228-8801,
and advise a Call Center Representative that you do not want Courtesy
Overdraft on your account, and it will be removed.
How will I know I am overdrawn?
We will mail you a letter to notify you any time your account is
overdrawn.
Can I overdraw more than my Courtesy Overdraft limit?
In most instances, if an item is presented for payment, or you authorize
payment from your account, and you have insufficient funds to pay
it, PFFCU will consider paying the item as long as it does not
result in a negative balance in your account (exclusive of fees),
greater than your limit. If paying any item will cause you to exceed
your limit, the item will be returned unpaid or the Check Card
authorization will be denied.
How
quickly do I have to deposit funds to cover an overdraft?
PFFCU expects that you will deposit funds to cover any overdrafts
immediately. If you do not deposit funds to cover your overdraft,
we will send you additional letters and contact you to discuss any
problems you have. If a negative balance still exists after 30 days,
we will close your account and report the overdraft balance to ChexSystems,
a national reporting agency.
Do I have to pay for this service?
Your PFFCU S1 and L2 (if applicable) overdraft protection will be
used first to pay any item. If an item cannot be paid from your
S1 or L2, a $19 fee will be charged for any check, ACH or
Bill Payer transaction, whether the transaction was paid or returned.
A $5 fee will be assessed for any POS EFT transaction that is paid.
You
should know that we are not obligated to pay any item presented
for payment or approve a transaction, if your account does not
contain sufficient collected and/or available funds, even if previous
items have been paid; Furthermore, PFFCU is not obligated to provide
prior written notice to you of our decision to refuse payment of
any item that is to be paid out of your account, or that has been
presented to your account for payment.
Should you issue a check or make any funds transaction
that exceeds what is available in your account, you are responsible
to PFFCU, pursuant to your Membership Agreement, for the amount of
any overdraft, plus any fees, immediately, without notice or demand
from PFFCU.
Your Membership Agreement sets forth all duties, obligations
and rights with regard to your checking account. The terms of your
Membership Agreement shall apply in any potential conflict of interests. ^top^
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