Overdraft Services | Northeastern OH Overdraft Protection

Cover your checks and electronic transactions

Everyone can make an honest mistake on their accounts - forgetting a check that hasn't cleared or having a large expense post unexpectedly. With Overdraft Services from 7 17 Credit Union, you can attach a financial safety net to your accounts to avoid costly merchants' fees and the stress of bounced checks and denied transactions.

Overdraft Protection

Back up the checks you write with your own funds. You can choose up to five Overdraft Protection accounts, and you designate the order in which the accounts are used. If you write a check that lacks sufficient funding, these sources kick in to cover the difference. Funds will be automatically transferred from the designated accounts. Funds may be withdrawn in $100 increments from your line of credit or Visa^® account.

Membership Savings or Club Savings Accounts
High Yield Money Market account
Visa^® Rewards Credit Card

There will be a fee for every Overdraft Protection transfer. Your fee may be reduced depending on your Simply Rewarding level. Transfers are free when you use your Visa Rewards Credit Card as the overdraft protection source.

To designate your Overdraft Protection accounts, simply stop by one of our branch offices or call our Teleservices Representatives during regular office hours.

Courtesy Pay

When funds are not available in your checking account or designated overdraft protection sources, 7 17 offers Courtesy Pay. This overdraft service is automatically extended to Members 18 or older in good standing* to cover shortfalls on written checks, electronic transfers from a checking account and recurring debit card transactions.

Courtesy Pay will honor the transaction(s) by bringing the checking account to a negative balance not to exceed $1,000**. 7 17 will mail a special notice informing you that your account has been brought to a negative balance to pay the check(s), and the account must be brought to a positive balance within 30 days.

Courtesy Pay carries a $30 fee*** for each paid item. All covered overdrafts are subject to your Courtesy Pay limit.** Courtesy Pay is not available on personal savings accounts, business accounts, and trust accounts. To access enhanced overdraft protection services, business and trust accounts may utilize Courtesy Pay PLUS.

How Courtesy Pay works:

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

Checks and other transactions made using your checking account number (example: ACH payments)
Automatic bill payments and recurring pre-authorized debits

We do not authorize and pay overdrafts for the following types of transactions unless you opt-in to Courtesy Pay Plus (see below):

ATM transactions
Everyday debit card transactions

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

Courtesy Pay Plus

Courtesy Pay Plus, an extension of Courtesy Pay, covers ATM withdrawals from your checking account and point-of-sale (POS) transactions using your debit card. Members 18 or older in good standing can opt-in to use Courtesy Pay Plus. Unless you opt-in, federal law prohibits your POS debit card and ATM transactions from being covered by our Courtesy Pay Plus service.

You may also opt-out of our Courtesy Pay Plus service at any time.

Courtesy Pay Plus carries a $30 fee*** for each paid item. If you do not opt-in to Courtesy Pay Plus, you will not be charged a fee for overdrafts on ATM and debit card transactions. However, your transactions will be declined, and you will need to find other means to complete those transactions.

How to opt-in or opt-out of Courtesy Pay Plus coverage on your ATM and debit card transactions:

1. Online: Visit the secure Online Courtesy Pay Plus Opt-In site if you want 7 17 Credit Union to authorize and pay overdrafts on your ATM and everyday debit card transactions.

Visit the secure Online Courtesy Pay Plus Opt-Out site only if you previously opted in but now you do not want 7 17 Credit Union to authorize and pay overdrafts on your ATM and everyday debit card transactions.

2. Phone: Call one of our TeleServices representatives during regular business hours to let us know if you would like to opt-in to Courtesy Pay Plus, or if you would like to opt-out of the service if already enrolled.

3. Mail: Download the Courtesy Pay Plus opt-in/opt-out PDF form, print and mail your completed form to:

7 17 Credit Union, Inc.
ATTN: Compliance/CPP
3181 Larchmont Ave, NE
Warren, OH 44483-2498

4. In person: Stop by any branch office during regular office hours to sign the necessary form.

Your request may take up to two business days to become active. After we process your opt-in request for Courtesy Pay Plus coverage on your ATM and everyday debit card transactions, you will receive a confirmation notice.

DISCLOSURES:
Your request may take up to two business days to become active. After we process your opt-in request for Courtesy Pay Plus coverage on your ATM and everyday debit card transactions, you will receive a confirmation notice.

*Your account must be in good standing to be eligible for Courtesy Pay and Courtesy Pay Plus, which includes having your loans being less than 15 days delinquent, your checking account not being negative for 30 days or more, and you are not subject to any legal or administrative order or levy. Based on review of your account status, we may not allow you to opt in or you may be opted out of our discretionary Courtesy Pay program.

**If Courtesy Pay (CP) is granted, the CP limit is $1,000 with a single direct deposit of $250 or more, or $500 without direct deposit. If the Member stops the automated deposit or reduces it below the $250 amount, the limit will revert back to a $500 limit for the following month. Accounts that remain negative for 45 days may be subject to closure. For questions and details, call 7 17 Credit Union.

***If you have Basic Checking, we will charge you a fee of $19.50 each time we pay an overdraft, and if your account is overdrawn for five (5) or more consecutive calendar days, we will charge an additional $0.99 daily negative balance fee per day up to a maximum of 45 days.