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- About PFFCU
The amount you qualify for will depend on several factors in your checking account, including, but not limited to, deposit activity and transaction activity. The Courtesy Overdraft limit may change depending on these factors. FREE overdraft protection from your Savings and/or Personal Line of Credit will be used before Courtesy Overdraft protection is accessed.
PFFCU offers a Courtesy Overdraft Program (COD), where PFFCU will pay overdrafts, up to a predetermined limit, for a fee, if there are insufficient funds in your savings account and you either don’t have available credit on your PLOC or you have not selected the PLOC option to cover overdrafts. When a transaction item is paid through the COD program, it causes your checking account to have a negative balance, which must then be repaid.
Federal regulations prohibit us from paying everyday debit card transactions unless you authorize us to do so by enrolling in this service. To enroll, login to Online Banking, click the Services tab then click Continue next to ‘Courtesy Overdraft (COD) Service Opt In’ and complete the steps which follow.
If you are not enrolled in Online Banking you can complete this form, or call Telephone Member Service at 215-931-0300 or 800-228-8801 or visit your nearest PFFCU branch location.
If you would like to opt-out, that is, if you would prefer we not pay everyday debit card transactions that would overdraw your account, you may opt-out by writing to us or by calling us at 215-931-0300 or 800-228-8801 and informing us of your intention to opt-out.
Your checking account has two kinds of balances: the “actual” balance and the “available” balance. It is important to understand how these balances differ so that you know when a given transaction may cause you to incur a fee under the COD Program.
Click here to learn how we apply COD Program fees based upon the available balance in your account.
Courtesy Overdraft e-mail notices are sent the next day to members who have supplied PFFCU with a primary e-mail address. If you have not provided us with that information, or you need to update your e-mail address, you should log onto Online Banking, select “Personal Profile” and choose the “Change Address” screen. You may also provide us with your primary e-mail address information by calling 215-931-0300 or 800-228-8801. After we have that information, we will send e-mail notifications to you beginning the first of the following month. Members with no primary e-mail address on file will receive notification by US mail.
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 Debit Card authorization will be denied.
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 clearing the negative balance in your account. If a negative balance continues, we will close your account and report the overdraft balance to ChexSystems, a national reporting agency.