Privilege Pay Agreement and Disclosure

What you need to know about Overdrafts and Overdraft fees:

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway.

We can cover your overdrafts in two different ways:

  1. We offer standard overdraft practices with your account
  2. We also offer overdraft protection plans, such as a link to a savings account which may be less expensive then our standard overdraft practices.

This notice explains our standard overdraft protection via Privilege Pay

What are the standard overdraft practices that are available with my account if I elect to OPT-IN to Privilege Pay?

We do authorize and pay overdrafts for the following types of transactions:

  1. Checks and other transactions made using your checking account number
  2. Automatic bill payments (ACH)
  3. ATM transactions
  4. Everyday debit card transactions
  5. Periodic payment transfers

We pay overdrafts at our discretion, which mean we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Ravalli County FCU pays my overdraft(s)?

Under our standard overdraft practices:

  1. We will charge you a Privilege Pay fee of $25 each time we pay an overdraft
  2. There is no limit on the total fees we can charge you for overdrafting your account

What if I DO NOT elect to have Ravalli County FCU pay my overdraft(s) under the Privilege Pay Program (OPT-OUT)?

  1. Checks and automatic bill payments will be returned NSF and a NSF fee of $25 will be charged
  2. ATM and everyday debit card transactions will be declined