Creating An Overdraft Protection Plan
North Island provides Overdraft Protection and Courtesy Pay to help you prevent overdraft and unavailable funds/insufficient fees on your personal checking account.
We all make mistakes. An overdraft protection plan can provide you with peace of mind knowing your transactions will be covered. An overdraft protection plan helps you avoid costly overdraft fees when you do not have sufficient funds in your checking account for a check, electronic debit, ATM, or debit card transaction you authorized.
North Island offers you two protection options:
- Courtesy Pay
- Overdraft Protection Accounts
With Courtesy Pay, North Island Credit Union may cover your paper checks, bill payments, pre-authorized electronic transactions (ACH), and recurring debit card transactions, even if there is not enough available funds in your qualified checking account.
Additionally, ATM and one-time/everyday debit card transactions may be covered if you opt-in to allow us to pay these transactions when you do not have sufficient available funds in your checking account. You may opt-in online, call (800) 848-5654, or visit any North Island Credit Union branch to complete the opt-in form.
There is no fee to have Courtesy Pay protection, but there is a $27 fee each time an overdraft occurs and we pay it, taking your account negative.
Overdraft Protection Accounts
Share Savings, Money Market, and Line of Credit
You may also link your checking account to a savings account, a money market account, or a line of credit to automatically transfer funds and avoid overdraft fees. Enroll in Overdraft Protection by calling (800) 848-5654, or by bringing this printer-friendly form to any North Island Credit Union branch. It only takes a moment, and will remain in effect until you inform us otherwise.
Linking your accounts is free, although there is a $5 fee charged to your savings, money market account, or line of credit for each overdraft transfer.
See complete list of fees and charges.
North Island Also Provides Other Resources To Help You Manage Your Checking Account:
Stay informed with free, timely account alerts sent directly to your email or mobile device:
- Balance alerts are free with your Digital Banking access
- You choose the amount and we will send you a message that your account balance is getting low
- Be notified of check clearings, paycheck deposits, and other account activity with transaction alerts
- You are in control – add new alerts, turn off existing alerts, or change your contact preferences at any time
- Sign in to Digital Banking to enroll or change your alerts
Online Account Transfer1
Easily move funds from one account to another with your Digital Banking account. Access your North Island accounts from ANY web browser, ANY time of day.
- Digital Banking is a free service available at North Island Credit Union
- Make an immediate funds transfer from one of your other accounts to your checking account
Terms & Conditions
1 The number of transfers from savings and money market accounts is limited to 6 per month. A $10 fee is charged for each transaction over the regulatory limit.
Please see our Consumer Account Agreement & Disclosure Booklet for important overdraft information. Our Courtesy Pay coverage is not a loan. All fees and overdraft (negative balance) are due upon transaction notification.
Federal Regulation D limits the number of transfers from savings and money market accounts to 6 per month. A $10 fee is charged for each transaction over the regulatory limit.
Payment of an inadvertent overdraft is not guaranteed and is paid at the Credit Union's sole discretion. Courtesy Pay is not a loan, and all fees and the overdraft amount (negative balance) are due and must be repaid to us promptly.
Lower limits may be granted at the discretion of the credit union. Courtesy Pay of an inadvertent overdraft is not guaranteed and is paid at the Credit Union's sole discretion.
There is a 5 per day limit on the number of times we will charge this fee.
Good standing means that you and any of your joint owners:
- Pay your negative balances timely (within 10 days)
- Make your loan payments on time
- Have not caused a loss to the Credit Union
- Do not repeatedly overdraw your account